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CMS Energy (CMS) Q4 Earnings In Line, '23 EPS Guidance Up

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CMS Energy Corporation (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.

CMS Energy Corporation Price, Consensus and EPS Surprise

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 $2,278 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.

Financial Condition

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.

2023 Guidance

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.

Zacks Rank

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 - 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 - 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 - 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%.

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