CMS Energy(US:CMS) ZACKSยท2024-10-31 16:10Core Viewpoint - CMS Energy Corporation reported strong third-quarter 2024 earnings, with EPS of 84 cents, exceeding estimates and showing significant year-over-year growth [1] Revenue Performance - Operating revenues reached $1.74 billion, falling short of the Zacks Consensus Estimate of $1.83 billion by 4.9%, but increased by 4.2% year-over-year [2] Operational Performance - Operating expenses were $1.38 billion, a decrease of 1.9% from the previous year [3] - Net income for the quarter was $253 million, up from $176 million year-over-year, surpassing the projected $232 million [3] - Interest charges amounted to $178 million, reflecting an 8.5% increase from the prior year [3] Financial Condition - Cash and cash equivalents stood at $412 million as of September 30, 2024, compared to $227 million at the end of 2023 [4] - Total debt and financial leases were $15.45 billion, up from $14.86 billion at the end of 2023 [4] - Cash generated from operating activities in the first nine months of 2024 was $1.97 billion, compared to $1.90 billion in the same period last year [4] 2024 Guidance - The company reaffirmed its 2024 adjusted EPS guidance of $3.29-$3.35, with the Zacks Consensus Estimate at $3.33, aligning closely with the midpoint of the guidance [5] 2025 Guidance - CMS Energy introduced its adjusted earnings guidance for 2025, expecting EPS in the range of $3.52-$3.58, while the Zacks Consensus Estimate is at $3.60, above the company's range [6] Zacks Rank - CMS Energy currently holds a Zacks Rank 4 (Sell) [7]