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CMS Energy (CMS) Q3 Earnings In Line, Revenues Increase Y/Y

CMS Energy Corporation CMS 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 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 $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 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 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 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.


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