Equity Profile

CIG

Companhia EnergÃ©tica de Minas Gerais - CEMIG

UtilitiesElectric Utilities$8.5B

Aug13Thu

Pre-Earnings Brief

UpcomingQ2-2018After Close5:00 PM EDT

Company Snapshot

Companhia Energética de Minas Gerais - CEMIG (CIG) is a major electric utility company in Brazil, providing electricity to millions of customers. As a key player in the utilities sector, CEMIG is significant for its role in energy distribution and generation, especially in a country that relies heavily on hydroelectric power.

Key Metrics to Watch

Revenue Growth

Revenue growth is crucial for assessing the company's ability to expand and meet demand in a competitive energy market.

N/A

Earnings Per Share (EPS)

EPS is a key indicator of profitability and financial health, impacting investor sentiment and stock performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CIG Q2-2018 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

+0.00%

Avg Stock Reaction

-2.53%

Last Quarter Recap

In the last quarter, CEMIG reported an EPS of $0.32, but the revenue figures were not disclosed. Following the earnings announcement, the stock experienced a slight decline of 1.85%.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about CEMIG's upcoming earnings, given the company's historical performance and the current market dynamics in the utilities sector.

Bull Case

If CEMIG can show strong revenue growth and improved EPS, it may indicate effective management and operational efficiency, boosting investor confidence.

Bear Case

Conversely, if the company fails to meet expectations on revenue or EPS, it could raise concerns about its market position and operational challenges, leading to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth for the quarter?

Revenue growth is a critical indicator of the company's performance and ability to capture market demand.

How has customer growth impacted operational efficiency?

Understanding customer growth will help gauge the company's market position and potential for future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate CEMIG's potential for revenue growth due to its strong customer base and operational efficiency, which could lead to better-than-expected results.

Supporting Evidence

Options are pricing a 27.97% move, indicating high volatility expectations that may not align with historical performance.

CEMIG's previous quarters have shown resilience despite market challenges, suggesting a potential for positive surprises.

Key Risk

If revenue growth exceeds expectations, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around CEMIG's ability to maintain or improve its revenue growth in a competitive utilities market.

Bull Confirmed If

Revenue growth exceeding 5% year-over-year would confirm the bull case.

Bear Confirmed If

Revenue growth below 0% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±27.97%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±28.0% while CIG has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

30d HV

27.5%

Calls (30K)P/C Ratio: 0.01Puts (400)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

This setup has occurred 30 times across Utilities in the last 2 years. 23 of 30 (77%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 1.5%, with a raw directional average of -0.7% (modestly negative historical bias).

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders adding

Institutional

7.61%

of float

Insider

0.00%

of float

Holders

236

institutions

Top Holders· as of Dec 2025

Blackrock Inc.
19,646,670 sh · $50.7M
1.03%
3.2%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If CEMIG beats expectations, history suggests the stock could rise by an average of 2.53%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with history suggesting an average drop of 1.59% in such scenarios.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition strategies and their effectiveness.
2Details on operational efficiencies that may impact profitability.
3Insights into regulatory changes affecting the utilities sector.
4Management's outlook on future revenue growth and market conditions.
5Any commentary on cost management and its impact on margins.

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Company Snapshot

Key Metrics to Watch

Revenue Growth

Revenue growth is crucial for assessing the company's ability to expand and meet demand in a competitive energy market.

N/A

Earnings Per Share (EPS)

EPS is a key indicator of profitability and financial health, impacting investor sentiment and stock performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CIG Q2-2018 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

+0.00%

Avg Stock Reaction

-2.53%

Last Quarter Recap

In the last quarter, CEMIG reported an EPS of $0.32, but the revenue figures were not disclosed. Following the earnings announcement, the stock experienced a slight decline of 1.85%.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about CEMIG's upcoming earnings, given the company's historical performance and the current market dynamics in the utilities sector.

Bull Case

If CEMIG can show strong revenue growth and improved EPS, it may indicate effective management and operational efficiency, boosting investor confidence.

Bear Case

Conversely, if the company fails to meet expectations on revenue or EPS, it could raise concerns about its market position and operational challenges, leading to a decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth for the quarter?

Revenue growth is a critical indicator of the company's performance and ability to capture market demand.

How has customer growth impacted operational efficiency?

Understanding customer growth will help gauge the company's market position and potential for future profitability.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate CEMIG's potential for revenue growth due to its strong customer base and operational efficiency, which could lead to better-than-expected results.

Supporting Evidence

Options are pricing a 27.97% move, indicating high volatility expectations that may not align with historical performance.

CEMIG's previous quarters have shown resilience despite market challenges, suggesting a potential for positive surprises.

Key Risk

If revenue growth exceeds expectations, it could significantly shift market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around CEMIG's ability to maintain or improve its revenue growth in a competitive utilities market.

Bull Confirmed If

Revenue growth exceeding 5% year-over-year would confirm the bull case.

Bear Confirmed If

Revenue growth below 0% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±27.97%

Historical Avg

±2.5%

Pricing rich

The options market is pricing in a significant potential move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±28.0% while CIG has averaged ±2.5% over the last 8 prints — setup is pricing rich.

Detail

30d HV

27.5%

Calls (30K)P/C Ratio: 0.01Puts (400)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Utilities

n=30

Fade rate: 7 of 30 (23%)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders adding

Institutional

7.61%

of float

Insider

0.00%

of float

Holders

236

institutions

Top Holders· as of Dec 2025

Blackrock Inc.
19,646,670 sh · $50.7M
1.03%
3.2%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If CEMIG beats expectations, history suggests the stock could rise by an average of 2.53%, confirming strong operational performance.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with history suggesting an average drop of 1.59% in such scenarios.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on customer acquisition strategies and their effectiveness.
2Details on operational efficiencies that may impact profitability.
3Insights into regulatory changes affecting the utilities sector.
4Management's outlook on future revenue growth and market conditions.
5Any commentary on cost management and its impact on margins.