CMS Q1 2019 Earnings Report — CMS Energy Corporation Revenue & Financial Results | Market Cap Arena

CMS Energy CorporationCMS

Q1 2019 Earnings

Reported April 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$2.1B	$1.8B	$2.0B	12.6%	5.4%
Op. Income	$359M	$250M	$363M	43.6%	-1.1%
Gross Margin	37.1%	31.4%	37.3%	5.6pp	-0.3pp
Net Margin	10.3%	5.9%	12.3%	4.4pp	-2.0pp
EPS (Diluted)	$0.75	$0.38	$0.86	97.4%	-12.8%
Free Cash Flow	$136M	-$364M	$286M	137.4%	-52.4%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.3B
GROSS PROFIT	$763M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$404M
Operating Expenses	$404M
Cost & Expenses	$1.7B
OPERATING INCOME	$359M
Interest Income	$1M
Interest Expense	$121M
Other Income/Expenses	-$98M
INCOME BEFORE TAX	$261M
Income Tax Expense	$48M
Net Income from Continuing Ops	$213M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$213M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$213M
D&A	$298M
EBIT	$382M
EBITDA	$680M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.3B
GROSS PROFIT	$763M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$404M
Operating Expenses	$404M
Cost & Expenses	$1.7B
OPERATING INCOME	$359M
Interest Income	$1M
Interest Expense	$121M
Other Income/Expenses	-$98M
INCOME BEFORE TAX	$261M
Income Tax Expense	$48M
Net Income from Continuing Ops	$213M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$213M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$213M
D&A	$298M
EBIT	$382M
EBITDA	$680M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$213M
Depreciation & Amortization	$298M
Stock-Based Compensation	$0
Deferred Income Tax	$43M
Other Non-Cash Items	$16M
Change in Working Capital	$47M
OPERATING CASH FLOW	$617M
Capital Expenditure	-$481M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$194M
NET CASH FROM INVESTING	-$675M
Net Debt Issuance	$255M
Common Stock Repurchased	$0
Common Dividends Paid	-$108M
Other Financing Activities	$0
NET CASH FROM FINANCING	$150M
FREE CASH FLOW	$136M
Net Change in Cash	$93M

Balance Sheet

Item	Amount
Cash & Equivalents	$234M
Short-Term Investments	$0
Net Receivables	$1.3B
Inventory	$442M
Other Current Assets	$98M
TOTAL CURRENT ASSETS	$2.4B
PP&E (Net)	$18.4B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$62M
Tax Assets	$0
Other Non-Current Assets	$4.0B
TOTAL NON-CURRENT ASSETS	$22.4B
TOTAL ASSETS	$24.8B
Account Payables	$550M
Short-Term Debt	$864M
Deferred Revenue	$0
Other Current Liabilities	$565M
TOTAL CURRENT LIABILITIES	$2.1B
Long-Term Debt	$11.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$6.6B
TOTAL NON-CURRENT LIABILITIES	$17.8B
TOTAL LIABILITIES	$19.9B
Common Stock	$3M
Additional Paid-In Capital	$5.1B
Retained Earnings	-$166M
Treasury Stock	$0
Accum. Other Comp. Income	-$66M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.9B
Minority Interest	$37M
TOTAL EQUITY	$4.9B
TOTAL LIABILITIES & EQUITY	$24.8B
Total Debt	$12.1B
Net Debt	$11.9B