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Companhia Energetica Minas Gerais (CIG)
NYSE:CIG
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Earnings Data
Report Date
Mar 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.08Last Year’s EPS
$0.13Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -3.57%
|Next Earnings Date:Mar 20, 2025
Earnings Call Sentiment|Positive
The earnings call was largely positive, highlighting significant financial achievements, strong revenue growth, and strategic successes in divestments and tariff revisions. However, challenges in energy trading and a drop in recurring EBITDA were notable lowlights.Company Guidance
In the third quarter of 2024, Cemig achieved remarkable financial results, highlighted by an EBITDA of BRL 5 billion, marking the highest in the company's history. This success was bolstered by a capital gain of BRL 1.6 billion from the sale of Aliança Energia and a BRL 1.5 billion gain from transmission tariff revisions. The company's credit rating was upgraded to AAA, the best in its history, reflecting strong cash generation and a robust EBITDA-to-net debt ratio. Cemig's investments in 2024 have already surpassed BRL 4 billion, with plans to exceed last year's BRL 4.8 billion, demonstrating a commitment to future growth and profitability. Additionally, Cemig is on track to invest 90% of its bold annual investment target of BRL 6.2 billion. Despite challenges in energy trading and market dynamics, the company's strategic divestment and investment plans continue to pave the way for sustainable growth and shareholder value creation.Record-Breaking AAA Rating
Achieved the best rating in the company's history, AAA, showcasing significant financial turnaround and stability.
Strong Financial Performance
Recorded a capital gain of BRL 1.6 billion from the sale of Aliança Energia, contributing to the highest EBITDA in history at BRL 5 billion for Q3.
Significant Revenue Growth
Achieved nearly 20% growth compared to Q3 2023, with investments over BRL 4 billion so far in 2024, exceeding last year's BRL 4.8 billion.
Transmission Tariff Revision Success
Received a gain of BRL 1.5 billion from transmission tariff revision, enhancing financial outcomes.
Successful Debenture Issuance
Issued BRL 2.5 billion in debentures with strong market demand, improving debt profile and extending average maturity.
Recognition for Transparency
Awarded for being one of the most transparent companies in Brazil, emphasizing quality and quick information to investors.
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CIG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CIG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $1.96 | $2.07 | +5.61% |
| Aug 13, 2024 | $1.92 | $2.05 | +6.77% |
| May 10, 2024 | $1.78 | $1.81 | +1.69% |
| Mar 21, 2024 | $1.64 | $1.69 | +3.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Companhia Energetica Minas Gerais (CIG) report earnings?
Companhia Energetica Minas Gerais (CIG) is schdueled to report earning on Mar 20, 2025, TBA Not Confirmed.
What is Companhia Energetica Minas Gerais (CIG) earnings time?
Companhia Energetica Minas Gerais (CIG) earnings time is at Mar 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CIG EPS forecast?
CIG EPS forecast for the fiscal quarter 2024 (Q4) is $0.08.
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