CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2021 adjusted earnings per share (EPS) of 47 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.
The company also reported GAAP earnings of $2.20, up from 55 cents generated in the year-ago quarter.
For 2021, CMS Energy posted an adjusted EPS of $2.66 from continuing operations, which surpassed the Zacks Consensus Estimate of $2.65. The reported figure also improved from $2.27 generated in 2020.
Operational Performance
For the quarter under review, CMS Energy’s operating revenues were $2,033 million, which exceeded the Zacks Consensus Estimate of $1,754 million by 15.9%. The top line also improved 17.7% on a year-over-year basis.
In 2021, the company generated operating revenues of $7.33 billion, which exceeded the Zacks Consensus Estimate of $6.97 billion. The top line also improved 14.2% from the 2020 revenue figure.
CMS Energy’s interest charges were $126 million during the fourth quarter, down 0.8% from the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $452 million as of Dec 31, 2021, up from $32 million at the end of 2020.
As of Dec 31, 2021, total debt, financial leases and financing obligations (excluding securitization debt) were $12,276 million, up from $12,166 million at the end of 2020.
In 2021, the company generated cash from operating activities worth $1,819 million compared with $1,276 million in 2020.
2022 Guidance
CMS Energy raised the upper end of its 2022 adjusted earnings guidance to the range of $2.85- $2.89 per share from the prior guidance of $2.85- $2.87 per share. The Zacks Consensus Estimate for the company’s 2022 earnings is currently pegged at $2.87, in line with the mid-point of the company’s newly guided range.
Zacks Rank
CMS Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Recent Utility Release
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%. The bottom line was also up 2.5% from the prior-year quarter.
NextEra’s operating revenues were $5,046 million, which lagged the Zacks Consensus Estimate of $5,436 million by 7.2%. Nonetheless, the top line improved 14.8% year over year.
Upcoming Releases
Duke Energy (DUK - Free Report) is set to release fourth-quarter 2021 results on Feb 10. The Zacks Consensus Estimate for earnings per share is pegged at 95 cents.
Duke Energy’s long-term earnings growth is projected at 5.3%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 4.6%.
Dominion Energy (D - Free Report) is scheduled to announce fourth-quarter 2021 results on Feb 11. The Zacks Consensus Estimate for earnings is pegged at 90 cents per share.
Dominion’s long-term earnings growth is projected at 6.6%. The Zacks Consensus Estimate for 2022 earnings per share suggests year-over-year growth of 7%.
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CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2021 adjusted earnings per share (EPS) of 47 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure declined 2.1% on a year-over-year basis.
The company also reported GAAP earnings of $2.20, up from 55 cents generated in the year-ago quarter.
For 2021, CMS Energy posted an adjusted EPS of $2.66 from continuing operations, which surpassed the Zacks Consensus Estimate of $2.65. The reported figure also improved from $2.27 generated in 2020.
Operational Performance
For the quarter under review, CMS Energy’s operating revenues were $2,033 million, which exceeded the Zacks Consensus Estimate of $1,754 million by 15.9%. The top line also improved 17.7% on a year-over-year basis.
In 2021, the company generated operating revenues of $7.33 billion, which exceeded the Zacks Consensus Estimate of $6.97 billion. The top line also improved 14.2% from the 2020 revenue figure.
CMS Energy’s interest charges were $126 million during the fourth quarter, down 0.8% from the year-ago period.
Financial Condition
CMS Energy had cash and cash equivalents of $452 million as of Dec 31, 2021, up from $32 million at the end of 2020.
As of Dec 31, 2021, total debt, financial leases and financing obligations (excluding securitization debt) were $12,276 million, up from $12,166 million at the end of 2020.
In 2021, the company generated cash from operating activities worth $1,819 million compared with $1,276 million in 2020.
2022 Guidance
CMS Energy raised the upper end of its 2022 adjusted earnings guidance to the range of $2.85- $2.89 per share from the prior guidance of $2.85- $2.87 per share. The Zacks Consensus Estimate for the company’s 2022 earnings is currently pegged at $2.87, in line with the mid-point of the company’s newly guided range.
Zacks Rank
CMS Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A Recent Utility Release
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 adjusted earnings of 41 cents per share, which beat the Zacks Consensus Estimate of 40 cents by 2.5%. The bottom line was also up 2.5% from the prior-year quarter.
NextEra’s operating revenues were $5,046 million, which lagged the Zacks Consensus Estimate of $5,436 million by 7.2%. Nonetheless, the top line improved 14.8% year over year.
Upcoming Releases
Duke Energy (DUK - Free Report) is set to release fourth-quarter 2021 results on Feb 10. The Zacks Consensus Estimate for earnings per share is pegged at 95 cents.
Duke Energy’s long-term earnings growth is projected at 5.3%. The Zacks Consensus Estimate for 2022 earnings per share indicates year-over-year growth of 4.6%.
Dominion Energy (D - Free Report) is scheduled to announce fourth-quarter 2021 results on Feb 11. The Zacks Consensus Estimate for earnings is pegged at 90 cents per share.
Dominion’s long-term earnings growth is projected at 6.6%. The Zacks Consensus Estimate for 2022 earnings per share suggests year-over-year growth of 7%.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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