CMS FY 2017 Earnings Report — CMS Energy Corporation Revenue & Financial Results | Market Cap Arena

CMS Energy CorporationCMS

FY 2017 Earnings

Reported February 14, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$6.6B	—	$6.4B	—	2.9%
Op. Income	$1.3B	—	$1.3B	—	6.5%
Gross Margin	38.0%	—	36.7%	—	1.3pp
Net Margin	7.0%	—	8.6%	—	-1.6pp
EPS (Diluted)	$1.64	—	$1.98	—	-17.2%
Free Cash Flow	$40M	—	-$43M	—	193.0%

Revenue Flow

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$4.1B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.2B
Operating Expenses	$1.2B
Cost & Expenses	$5.2B
OPERATING INCOME	$1.3B
Interest Income	$12M
Interest Expense	$438M
Other Income/Expenses	-$452M
INCOME BEFORE TAX	$886M
Income Tax Expense	$424M
Net Income from Continuing Ops	$462M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$460M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$460M
D&A	$881M
EBIT	$1.3B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$4.1B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.2B
Operating Expenses	$1.2B
Cost & Expenses	$5.2B
OPERATING INCOME	$1.3B
Interest Income	$12M
Interest Expense	$438M
Other Income/Expenses	-$452M
INCOME BEFORE TAX	$886M
Income Tax Expense	$424M
Net Income from Continuing Ops	$462M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$460M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$460M
D&A	$881M
EBIT	$1.3B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$460M
Depreciation & Amortization	$881M
Stock-Based Compensation	$0
Deferred Income Tax	$417M
Other Non-Cash Items	$121M
Change in Working Capital	-$174M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$1.7B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$203M
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	$404M
Common Stock Repurchased	$0
Common Dividends Paid	-$377M
Other Financing Activities	$0
NET CASH FROM FINANCING	$110M
FREE CASH FLOW	$40M
Net Change in Cash	-$55M

Balance Sheet

Item	Amount
Cash & Equivalents	$182M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$672M
Other Current Assets	$39M
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$16.8B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$64M
Tax Assets	$0
Other Non-Current Assets	$3.8B
TOTAL NON-CURRENT ASSETS	$20.6B
TOTAL ASSETS	$23.1B
Account Payables	$740M
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$308M
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$9.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6.6B
TOTAL NON-CURRENT LIABILITIES	$15.8B
TOTAL LIABILITIES	$18.6B
Common Stock	$3M
Additional Paid-In Capital	$5.0B
Retained Earnings	-$531M
Treasury Stock	$0
Accum. Other Comp. Income	-$50M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.4B
Minority Interest	$37M
TOTAL EQUITY	$4.5B
TOTAL LIABILITIES & EQUITY	$23.1B
Total Debt	$10.5B
Net Debt	$10.3B