CMS Energy Corp. has reported their fourth-quarter profits, showing a significant increase from the previous year and surpassing Wall Street forecasts. The company's net income reached $306 million, which amounts to $1.05 per share. This is a marked improvement from the $168 million, or $0.58 per share, reported in the same timeframe the prior year.
Adjustments aside, CMS Energy Corp. reported an adjusted income of $308 million or $1.05 per share for the quarter. According to data collated by Thomson Reuters, market analysts had projected a per share earning of $1.04 on average, typically not factoring in extraordinary items.
However, the firm's quarterly revenue dipped by 14.5%, declining from $2.28 billion the previous year to $1.95 billion. Here's a glance at the CMS Energy Corp. earnings following Generally Accepted Accounting Principles (GAAP):
- Fourth-quarter earnings: $306 million vs. $168 million in the previous year.
- Earnings per share (Q4): $1.05 vs. $0.58 last year.
- Market analyst estimates: $1.04.
- Fourth-quarter revenue: $1.95 billion vs. $2.28 billion from the previous year.
