CMS Energy's (CMS) Q4 Earnings Beat, Revenues Fall Y/Y

Zacks Equity Research Published on February 01, 2024

CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2023 adjusted earnings per share of $1.05, which surpassed the Zacks Consensus Estimate of $1.04 by 1%. The bottom line also increased 75% from 60 cents reported in the previous year.

The company’s GAAP earnings came in at $1.05 per share compared with 58 cents in the fourth quarter of 2022.

For 2023, the company reported adjusted earnings of $3.11 per share, which surpassed the Zacks Consensus Estimate of $3.10 by 0.3%. The bottom line also increased 7.6% from $2.89 per share reported in the previous year.

Revenues

Operating revenues totaled $1,950 million, which lagged the Zacks Consensus Estimate of $2,461.4 million by 20.8%. The top line also decreased 14.4% on a year-over-year basis.

For 2023, the company reported operating revenues of $7.46 billion, which missed the Zacks Consensus Estimate of $8.12 billion by 8.1%. The full-year top line also went down 13.3% from $8.60 billion in 2022.

Zacks Reveals ChatGPT "Sleeper" Stock

One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.

As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.