CMS FY 2018 Earnings Report — CMS Energy Corporation Revenue & Financial Results | Market Cap Arena

CMS Energy CorporationCMS

FY 2018 Earnings

Reported February 5, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$6.9B	—	$6.6B	—	4.4%
Op. Income	$1.2B	—	$1.3B	—	-13.2%
Gross Margin	34.9%	—	38.0%	—	-3.1pp
Net Margin	9.6%	—	7.0%	—	2.6pp
EPS (Diluted)	$2.32	—	$1.64	—	41.5%
Free Cash Flow	-$371M	—	$40M	—	-1027.5%

Revenue Flow

Item	Amount
REVENUE	$6.9B
Cost of Revenue	$4.5B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.2B
Operating Expenses	$1.2B
Cost & Expenses	$5.7B
OPERATING INCOME	$1.2B
Interest Income	$11M
Interest Expense	$458M
Other Income/Expenses	-$388M
INCOME BEFORE TAX	$774M
Income Tax Expense	$115M
Net Income from Continuing Ops	$659M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$657M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$657M
D&A	$933M
EBIT	$1.2B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.9B
Cost of Revenue	$4.5B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.2B
Operating Expenses	$1.2B
Cost & Expenses	$5.7B
OPERATING INCOME	$1.2B
Interest Income	$11M
Interest Expense	$458M
Other Income/Expenses	-$388M
INCOME BEFORE TAX	$774M
Income Tax Expense	$115M
Net Income from Continuing Ops	$659M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$657M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$657M
D&A	$933M
EBIT	$1.2B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$657M
Depreciation & Amortization	$933M
Stock-Based Compensation	$0
Deferred Income Tax	$182M
Other Non-Cash Items	-$174M
Change in Working Capital	$105M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$2.1B
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$146M
Other Investing Activities	-$532M
NET CASH FROM INVESTING	-$2.6B
Net Debt Issuance	$1.2B
Common Stock Repurchased	$0
Common Dividends Paid	-$407M
Other Financing Activities	$0
NET CASH FROM FINANCING	$874M
FREE CASH FLOW	-$371M
Net Change in Cash	-$25M

Balance Sheet

Item	Amount
Cash & Equivalents	$153M
Short-Term Investments	$0
Net Receivables	$1.2B
Inventory	$650M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$2.5B
PP&E (Net)	$18.1B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$69M
Tax Assets	$0
Other Non-Current Assets	$3.9B
TOTAL NON-CURRENT ASSETS	$22.1B
TOTAL ASSETS	$24.5B
Account Payables	$733M
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$306M
TOTAL CURRENT LIABILITIES	$2.6B
Long-Term Debt	$10.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6.4B
TOTAL NON-CURRENT LIABILITIES	$17.1B
TOTAL LIABILITIES	$19.7B
Common Stock	$3M
Additional Paid-In Capital	$5.1B
Retained Earnings	-$271M
Treasury Stock	$0
Accum. Other Comp. Income	-$65M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.8B
Minority Interest	$37M
TOTAL EQUITY	$4.8B
TOTAL LIABILITIES & EQUITY	$24.5B
Total Debt	$11.8B
Net Debt	$11.6B