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CMS Energy (CMS) Q1 Earnings Beat, Revenues Increase Y/Y

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CMS Energy Corporation CMS reported first-quarter 2022 adjusted earnings per share (EPS) of $1.20 from continuing operations, which beat the Zacks Consensus Estimate of $1.13 by 6.2%. The reported figure also improved 10.1% on a year-over-year basis.

The company reported GAAP earnings of $1.21, flat year over year.

Operational Performance

For the quarter under review, CMS Energy’s operating revenues were $2,374 million, which exceeded the Zacks Consensus Estimate of $2,128.9 million by 11.5%. The top line also improved 17.9% on a year-over-year basis.

CMS Energy’s interest charges were $124 million during the first quarter, which remained unchanged from the year-ago period.

CMS Energy Corporation Price, Consensus and EPS Surprise

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

Financial Condition

CMS Energy had cash and cash equivalents of $446 million as of Mar 31, 2022, down from $452 million at the end of 2021.

As of Mar 31, 2022, total debt, financial leases and financing obligations (excluding securitization debt) were $12,275 million compared with $12,276 million at the end of 2021.

During the first quarter of 2022, the company generated cash from operating activities worth $707 million compared with $832 million in first-quarter 2021.

2022 Guidance

CMS Energy reaffirmed its adjusted earnings guidance in the range of $2.85- $2.89 per share. The Zacks Consensus Estimate for the company’s 2022 earnings is currently pegged at $2.88, slightly above the mid-point 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.

Other Utility Releases

FirstEnergy Corporation FE delivered first-quarter 2022 operating earnings per share (EPS) of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined 13% from the year-ago earnings of 69 cents per share.

The company generated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. The top line improved 8.7% from $2,752 million in the year-ago quarter.

NextEra Energy NEE reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.

Its operating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. The top line also decreased 22.4% year over year.

Entergy Corporation ETR reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined 10.2% from $1.47 per share in the year-ago quarter.

Its first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. Further, revenues increased 1.2% from $2.84 billion in the year-ago quarter.


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