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 utility company based in Brazil that provides electric power to millions of customers. As a key player in the electric utilities sector, its performance can be influenced by factors such as energy demand, regulatory changes, and economic conditions.

Key Metrics to Watch

Revenue Growth

Revenue growth is crucial for assessing the company's ability to expand and meet customer demand.

N/A

Earnings Per Share (EPS)

EPS indicates the company's profitability and is a key measure for investors.

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, with the stock experiencing a slight decline of 1.85% the following day. Revenue figures were not disclosed, leaving some uncertainty about overall performance.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for CEMIG's upcoming earnings are uncertain due to the lack of analyst estimates and management guidance. Investors are likely looking for signs of revenue growth and profitability.

Bull Case

If CEMIG shows strong revenue growth and improved EPS, it could indicate a robust recovery in demand and operational efficiency, leading to a positive market reaction.

Bear Case

Conversely, if the company fails to meet revenue expectations or reports declining customer numbers, it could raise concerns about its future performance and lead to a negative response from investors.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the revenue growth rate for this quarter?

Revenue growth is a key indicator of the company's performance and ability to attract and retain customers, which will heavily influence market sentiment.

How many new customers has CEMIG added this quarter?

Customer growth can indicate demand trends and operational efficiency, making it a critical metric for assessing future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating CEMIG's potential for revenue growth due to recent investments in infrastructure and customer service improvements.

Supporting Evidence

Historical data shows that CEMIG has consistently added customers in previous quarters, which could indicate a trend.

Options pricing suggests a high level of expected volatility, indicating that the market anticipates significant news.

The company's recent focus on renewable energy initiatives could attract more customers and improve revenue.

Key Risk

If customer growth exceeds expectations, it could significantly shift market sentiment in favor of CEMIG.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around the company's ability to demonstrate growth in both revenue and customer base amidst a challenging economic environment.

Bull Confirmed If

Revenue growth of 5% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A decline in customer numbers or negative revenue growth 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 of nearly 28%, suggesting that investors expect volatility around the earnings report.

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 around 2.53% on the first day, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but cautious in tone, the stock may see muted movement as investors digest the commentary.

Miss

If the company misses expectations, the stock could decline, with historical patterns indicating a potential drop of around 2.53%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on revenue growth compared to the previous quarter.
2Updates on customer acquisition strategies and results.
3Any commentary on regulatory changes affecting the utility sector.
4Insights into operational efficiency improvements.
5Management's outlook on future demand for electricity.

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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 customer demand.

N/A

Earnings Per Share (EPS)

EPS indicates the company's profitability and is a key measure for investors.

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

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If CEMIG shows strong revenue growth and improved EPS, it could indicate a robust recovery in demand and operational efficiency, leading to a positive market reaction.

Bear Case

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the revenue growth rate for this quarter?

Revenue growth is a key indicator of the company's performance and ability to attract and retain customers, which will heavily influence market sentiment.

How many new customers has CEMIG added this quarter?

Customer growth can indicate demand trends and operational efficiency, making it a critical metric for assessing future performance.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating CEMIG's potential for revenue growth due to recent investments in infrastructure and customer service improvements.

Supporting Evidence

Historical data shows that CEMIG has consistently added customers in previous quarters, which could indicate a trend.

Options pricing suggests a high level of expected volatility, indicating that the market anticipates significant news.

The company's recent focus on renewable energy initiatives could attract more customers and improve revenue.

Key Risk

If customer growth exceeds expectations, it could significantly shift market sentiment in favor of CEMIG.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around the company's ability to demonstrate growth in both revenue and customer base amidst a challenging economic environment.

Bull Confirmed If

Revenue growth of 5% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A decline in customer numbers or negative revenue growth 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 of nearly 28%, suggesting that investors expect volatility around the earnings report.

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 around 2.53% on the first day, confirming a positive outlook.

In-Line / Cautious

If results are in line with expectations but cautious in tone, the stock may see muted movement as investors digest the commentary.

Miss

If the company misses expectations, the stock could decline, with historical patterns indicating a potential drop of around 2.53%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Details on revenue growth compared to the previous quarter.
2Updates on customer acquisition strategies and results.
3Any commentary on regulatory changes affecting the utility sector.
4Insights into operational efficiency improvements.
5Management's outlook on future demand for electricity.