CMS Energy Corporation ( CMS Quick Quote CMS - Free Report) reported fourth-quarter 2022 adjusted earnings per share (EPS) of 60 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure improved 27.7% on a year-over-year basis. The company reported GAAP earnings of 58 cents per share compared with 40 cents per share recorded in the fourth-quarter of 2021. For 2022, the company reported adjusted EPS of $2.89, compared with $2.65 recorded in 2021. The full-year bottom line came in line with the Zacks Consensus estimate. Operational Performance
For the quarter under review, CMS Energy’s operating revenues were $2,278 million, which exceeded the Zacks Consensus Estimate of $2,185.3 million by 4.2%. The top line improved 12.1% on a year-over-year basis.
For 2022, the company recorded operating revenues worth $8.60 billion, up 17.3% from 2021’s reported top-line figure. The full-year revenues also surpassed the Zacks Consensus Estimate of $8.50 billion.
CMS Energy’s interest charges were $139 million during the fourth quarter, which moved up 10.3% from the year-ago period.
CMS Energy had cash and cash equivalents of $164 million as of Dec 31, 2022, down from $452 million at the end of 2021.
As of Dec 31, 2022, total debt, financial leases and financing obligations (excluding securitization debt) were $14,139 million, compared with $12,276 million at the end of 2021.
During 2022, the company generated cash from operating activities worth $855 million compared with $1,819 million in the year-ago period.
CMS Energy currently expects its adjusted earnings guidance in the range of $3.06-$3.12 per share, up from its prior guidance range of $3.05-$3.11. The Zacks Consensus Estimate for the company’s 2023 earnings is currently pegged at $3.11 per share, which comes near the high-end of the company’s guided range.
CMS Energy currently carries a Zacks Rank #4 (Sell).
You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Recent Utility Releases Xcel Energy Inc. ( XEL Quick Quote XEL - Free Report) posted fourth-quarter 2022 operating earnings of 69 cents per share, which were on par with the Zacks Consensus Estimate. The bottom line improved 18.9% from the year-ago earnings of 58 cents per share. Xcel Energy’s fourth-quarter revenues of $4,053 million beat the Zacks Consensus Estimate of $3,537 million by 14.6%. The same improved by 20.8% from the year-ago quarter’s figure of $3,355 million. NextEra Energy, Inc. ( NEE Quick Quote NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%. The bottom line was also up 24.4% from the prior-year quarter. For the fourth quarter, NextEra’s operating revenues were $6,164 million, which surpassed the Zacks Consensus Estimate of $5,743 million by 7.3%. The top line improved 22.2% year over year. An Upcoming Release Dominion Energy ( D Quick Quote D - Free Report) is scheduled to announce fourth-quarter 2022 results on Feb 8. The Zacks Consensus Estimate for its Q4 earnings is pegged at $1.03 per share.
Dominion’s long-term earnings growth is projected at 5.8%. The Zacks Consensus Estimate for its Q4 sales, pegged at $4.20 billion, suggests year-over-year growth of 8.1%.