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JACKSON, Mich. - CMS Energy Corp., which operates the gas and power utility Consumers Energy, said Wednesday third-quarter earnings slipped, but still beat Wall Street estimates.
| CMS | 10.87 |  -0.18 |
Net income slipped to $79 million, or 34 cents a share, after paying preferred dividends in the July-September period from $82 million, or 34 cents a share, a year ago.
Adjusted to exclude one-time items, profit was $78 million, or 33 cents per share, in the latest period.
Analysts surveyed by Thomson Reuters were expecting earnings of 26 cents per share. The estimates typically exclude one-time items.
Revenue rose to $1.43 billion from $1.28 billion last year.
The company reiterated its expectation that full-year adjusted earnings will come in at $1.20 per share, excluding an unrealized loss on retirement investments of 3 cents per share. Wall Street expects $1.19 in profit.
CMS shares rose 24 cents, or 2.3 percent, to $10.61 in midday trading. In the past year, the stock has ranged from $8.33 to $18.07.
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