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CMS Energy Q3 adjusted EPS rises YOY, tops analyst estimates

CMS Energy Corp. on Oct. 24 posted adjusted net income of $208 million, or 73 cents per share, in the third quarter of 2019, up from $169 million, or 60 cents per share, in the corresponding quarter of 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 68 cents.

GAAP net income available to common stockholders was $207 million, or 73 cents per share, compared to $169 million, or 59 cents per share, in the year-ago quarter.

Operating revenue came in at $1.55 billion, compared to $1.60 billion a year earlier. The utility recorded operating income of $351 million for the third quarter of 2019, rising from $294 million in the comparable quarter of 2018.

CMS Energy continues to target full-year 2019 adjusted EPS in the range of $2.47 and $2.51. The company also issued 2020 adjusted EPS guidance of $2.63 to $2.68.