We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CMS Energy (CMS) Q3 Earnings In Line, Revenues Increase Y/Y
Read MoreHide Full Article
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2022 earnings per share (EPS) of 56 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure however declined 3.7% on a year-over-year basis.
Operational Performance
For the quarter under review, CMS Energy’s operating revenues were $2,024 million, which exceeded the Zacks Consensus Estimate of $1,763.5 million by 14.8%. The top line improved 17.3% on a year-over-year basis.
CMS Energy’s interest charges were $130 million during the third quarter, which moved up 4% from the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy had cash and cash equivalents of $168 million as of Sep 30, 2022, down from $452 million at the end of 2021.
As of Sep 30, 2022, total debt, financial leases and financing obligations (excluding securitization debt) were $13,571 million compared with $12,276 million at the end of 2021.
During the first nine months of 2022, the company generated cash from operating activities worth $667 million compared with $1,483 million in the year-ago period.
2022 Guidance
CMS Energy currently expects its adjusted earnings guidance in the range of $2.87-$2.89 from the prior guidance range of $2.85- $2.89 per share. The Zacks Consensus Estimate for the company’s 2022 earnings is currently pegged at $2.89, which matches the high-end of the company’s guided range.
FirstEnergy Corporation (FE - Free Report) delivered third-quarter 2022 operating earnings per share (EPS) of 79 cents, beating the Zacks Consensus Estimate of 77 cents by 2.6%. It generated operating revenues of $3,533 million in the third quarter, which surpassed the Zacks Consensus Estimate of $3,190 million by 10.8%. The top line improved 13.1% from the year-ago quarter.
As of Sep 30, 2022, FE had cash and cash equivalents of $251 million compared with $1,462 million as of Dec 31, 2021. Net cash provided by operating activities for the first nine months of 2022 was $1,837 million compared with $2,104 million in the year-ago period.
Upcoming Releases
Ameren (AEE - Free Report) is scheduled to report its third quarter 2022 results on Nov 3. The Zacks Consensus Estimate for its third-quarter earnings is pegged at $1.71 per share, indicating an improvement of 3.6% from the prior-year reported figure.
Ameren boasts a long-term earnings growth rate of 7.2%. The Zacks Consensus Estimate for AEE’s third-quarter sales is pegged at $1.90 billion, suggesting a 5% increase from the prior-year reported figure.
Pinnacle West Capital (PNW - Free Report) is slated to report its third quarter 2022 results on Nov 3. The Zacks Consensus Estimate for its third-quarter earnings, pegged at $2.62 per share, implies a decline of 12.7% from the prior-year quarter’s reported figure.
PNW has a four-quarter earnings surprise of 115.48%. The Zacks Consensus Estimate for Pinnacle’s third-quarter sales suggests a growth rate of 0.6% from the prior-year quarter’s reported figure.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
CMS Energy (CMS) Q3 Earnings In Line, Revenues Increase Y/Y
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2022 earnings per share (EPS) of 56 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure however declined 3.7% on a year-over-year basis.
Operational Performance
For the quarter under review, CMS Energy’s operating revenues were $2,024 million, which exceeded the Zacks Consensus Estimate of $1,763.5 million by 14.8%. The top line improved 17.3% on a year-over-year basis.
CMS Energy’s interest charges were $130 million during the third quarter, which moved up 4% from the year-ago period.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation price-consensus-eps-surprise-chart | CMS Energy Corporation Quote
Financial Condition
CMS Energy had cash and cash equivalents of $168 million as of Sep 30, 2022, down from $452 million at the end of 2021.
As of Sep 30, 2022, total debt, financial leases and financing obligations (excluding securitization debt) were $13,571 million compared with $12,276 million at the end of 2021.
During the first nine months of 2022, the company generated cash from operating activities worth $667 million compared with $1,483 million in the year-ago period.
2022 Guidance
CMS Energy currently expects its adjusted earnings guidance in the range of $2.87-$2.89 from the prior guidance range of $2.85- $2.89 per share. The Zacks Consensus Estimate for the company’s 2022 earnings is currently pegged at $2.89, which matches the high-end of the company’s 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
FirstEnergy Corporation (FE - Free Report) delivered third-quarter 2022 operating earnings per share (EPS) of 79 cents, beating the Zacks Consensus Estimate of 77 cents by 2.6%. It generated operating revenues of $3,533 million in the third quarter, which surpassed the Zacks Consensus Estimate of $3,190 million by 10.8%. The top line improved 13.1% from the year-ago quarter.
As of Sep 30, 2022, FE had cash and cash equivalents of $251 million compared with $1,462 million as of Dec 31, 2021. Net cash provided by operating activities for the first nine months of 2022 was $1,837 million compared with $2,104 million in the year-ago period.
Upcoming Releases
Ameren (AEE - Free Report) is scheduled to report its third quarter 2022 results on Nov 3. The Zacks Consensus Estimate for its third-quarter earnings is pegged at $1.71 per share, indicating an improvement of 3.6% from the prior-year reported figure.
Ameren boasts a long-term earnings growth rate of 7.2%. The Zacks Consensus Estimate for AEE’s third-quarter sales is pegged at $1.90 billion, suggesting a 5% increase from the prior-year reported figure.
Pinnacle West Capital (PNW - Free Report) is slated to report its third quarter 2022 results on Nov 3. The Zacks Consensus Estimate for its third-quarter earnings, pegged at $2.62 per share, implies a decline of 12.7% from the prior-year quarter’s reported figure.
PNW has a four-quarter earnings surprise of 115.48%. The Zacks Consensus Estimate for Pinnacle’s third-quarter sales suggests a growth rate of 0.6% from the prior-year quarter’s reported figure.