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CMS Energy (CMS) Q4 Earnings In Line, Revenues Increase Y/Y
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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.
CMS Energy Corporation Price, Consensus and EPS Surprise
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.
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 (CMS) Q4 Earnings In Line, Revenues Increase Y/Y
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.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation price-consensus-eps-surprise-chart | CMS Energy Corporation Quote
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%.