CMS FY 2019 Earnings Report — CMS Energy Corporation Revenue & Financial Results | Market Cap Arena

CMS Energy CorporationCMS

FY 2019 Earnings

Reported February 6, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$6.6B	—	$6.9B	—	-3.6%
Op. Income	$1.1B	—	$1.2B	—	-4.0%
Gross Margin	36.8%	—	34.9%	—	1.9pp
Net Margin	10.3%	—	9.6%	—	0.7pp
EPS (Diluted)	$2.39	—	$2.32	—	3.0%
Free Cash Flow	-$314M	—	-$371M	—	15.4%

Revenue Flow

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$4.2B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.3B
Operating Expenses	$1.3B
Cost & Expenses	$5.5B
OPERATING INCOME	$1.1B
Interest Income	$7M
Interest Expense	$460M
Other Income/Expenses	-$351M
INCOME BEFORE TAX	$764M
Income Tax Expense	$131M
Net Income from Continuing Ops	$633M
Net Income from Discontinued Ops	$49M
Other Adjustments	$0
NET INCOME	$680M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$680M
D&A	$989M
EBIT	$1.2B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$6.6B
Cost of Revenue	$4.2B
GROSS PROFIT	$2.4B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.3B
Operating Expenses	$1.3B
Cost & Expenses	$5.5B
OPERATING INCOME	$1.1B
Interest Income	$7M
Interest Expense	$460M
Other Income/Expenses	-$351M
INCOME BEFORE TAX	$764M
Income Tax Expense	$131M
Net Income from Continuing Ops	$633M
Net Income from Discontinued Ops	$49M
Other Adjustments	$0
NET INCOME	$680M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$680M
D&A	$989M
EBIT	$1.2B
EBITDA	$2.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$680M
Depreciation & Amortization	$992M
Stock-Based Compensation	$0
Deferred Income Tax	$150M
Other Non-Cash Items	$1M
Change in Working Capital	-$33M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	-$2.1B
Acquisitions (Net)	$97M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$809M
NET CASH FROM INVESTING	-$2.8B
Net Debt Issuance	$1.4B
Common Stock Repurchased	$0
Common Dividends Paid	-$436M
Other Financing Activities	$0
NET CASH FROM FINANCING	$1.0B
FREE CASH FLOW	-$314M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$140M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$605M
Other Current Assets	$50M
TOTAL CURRENT ASSETS	$2.3B
PP&E (Net)	$19.0B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$71M
Tax Assets	$0
Other Non-Current Assets	$5.5B
TOTAL NON-CURRENT ASSETS	$24.5B
TOTAL ASSETS	$26.8B
Account Payables	$635M
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$299M
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$12.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$7.0B
TOTAL NON-CURRENT LIABILITIES	$19.1B
TOTAL LIABILITIES	$21.8B
Common Stock	$3M
Additional Paid-In Capital	$5.1B
Retained Earnings	-$25M
Treasury Stock	$0
Accum. Other Comp. Income	-$73M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.0B
Minority Interest	$37M
TOTAL EQUITY	$5.1B
TOTAL LIABILITIES & EQUITY	$26.8B
Total Debt	$13.3B
Net Debt	$13.2B