US power company CMS Energy reaffirmed its adjusted profit outlook for 2009 to $1.25 per share while posting a rise in profits.
The company reported that its second-quarter profit rose 68% as lower operating expenses offset a decline in revenue.
The adjusted profit outlook is 2¢ below the estimates Thomson Reuters analysts surveyed.
CMS said it made $74m, or 32¢ per share for the quarter ended 30 June compared with a profit of $44m, or 18¢ per share, in the year-ago quarter.
Revenue fell to $1.2bn from $1.4bn.
Discounting one-time gains and a charge for an environmental project, CMS reported a profit of $62m, or 26¢ a share, for the quarter.
CMS shares rose 38¢ or 3% to $13.03. The shares have traded between $8.33 and $14.88 over the past year, writes the Associated Press.
CMS Energy has an electric and natural gas utility, Consumers Energy and also owns and operates independent power generation businesses.