CMS Energy Corporation (CMS) reported fourth-quarter 2014 earnings per share of 35 cents on an adjusted basis. Quarterly earnings lagged the Zacks Consensus Estimate by a penny and declined 5.4% from the year-ago figure of 37 cents.
2014 earnings came in at $1.77 per share, missing the Street consensus estimate by a penny. However, the reported figure increased 6.6% year over year.
Operational Performance
In the quarter under review, CMS Energy’s operating revenues were $1,758 million, beating the Zacks Consensus Estimate of $1,579 million by 11.3%. On a year-over-year basis, revenues edged up 1.3% from $1,736 million.
Full year 2014 revenues of $7,179 million increased 9.3% year over year and surpassed the Zacks Consensus Estimate of $6,829 million.
The company’s operating expenses in the reported quarter were $1,485 million, up 0.9% year over year.
Operating income grew 3.4% to $273 million from $264 million a year ago.
CMS Energy’s interest charges increased to $104 million from $99 million a year ago.
Financial Condition
CMS Energy had cash and cash equivalents of $207 million as of Dec 31, 2014, up from $172 million as of Dec 31, 2013.
As of Dec 31, 2014, total debt, capital leases and financing obligations rose to $8.31 billion from $7.88 billion as of Dec 31, 2013.
In 2014, cash from operating activities was $1,447 million compared witth $1,421 million in the year-ago comparable period.
Guidance
CMS Energy expects adjusted earnings per share for 2015 in the $1.86–$1.89 range. The company also reaffirmed its long-term adjusted earnings growth guidance of 5–7%.
Other Releases
Consolidated Edison, Inc. (ED) is expected to release fourth-quarter results on Feb 19, 2015. The Zacks Consensus Estimate for the quarter is 56 cents per share.
Duke Energy Corp. (DUK) is expected to release its fourth-quarter results on Feb 18, 2015. The Zacks Consensus Estimate stands at 89 cents.
American Electric Power Company Inc. (AEP) reported fourth-quarter 2014 operating earnings of 48 cents per share, missing the Zacks Consensus Estimate of 52 cents by 7.7%. The quarterly figure also moved downward from the year-ago profit of 60 cents per share by 20%.
Zacks Rank
CMS Energy currently has a Zacks Rank #2 (Buy).
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