CMS Energy Corp. on Feb. 14 posted fourth-quarter 2017 adjusted net income of $145 million, or 51 cents per share, climbing from $81 million, or 29 cents per share, in the comparable quarter of 2016.
The result was in line with the S&P Capital IQ consensus normalized EPS estimate for the most recent quarter of 51 cents.
Operating revenues for the quarter ending Dec. 31, 2017, were up to $1.78 billion, from $1.64 billion in the fourth quarter of 2016, while operating income for the quarter grew to $379 million, from $280 million in the year-ago quarter.
Including a charge associated with the federal tax reform, CMS Energy recorded a GAAP fourth-quarter 2017 net loss available to common stockholders of $3 million, or 1 cent per share, compared with net income available to common stockholders of $77 million, or 28 cents per share, in the corresponding quarter of 2016.
On a full-year basis, the company reported 2017 adjusted net income of $610 million, or $2.17 per share, compared with $563 million, or $2.02 per share, in 2016.
The S&P Capital IQ consensus normalized EPS estimate for 2017 was $2.17.
Full-year operating revenues totaled $6.58 billion in 2017, compared with $6.40 billion in 2016, while operating income increased to $1.34 billion, from $1.26 billion in 2016.
The company booked $460 million, or $1.64 per share, in 2017 net income available to common stockholders, compared with $551 million, or $1.98 per share, a year ago.
CMS Energy generated more than $1.7 billion in operating cash flow, which was in excess of guidance, the company said.
Looking ahead, CMS Energy raised its full-year 2018 adjusted EPS guidance to range of $2.30 to $2.34, representing a 6% to 8% growth. The company was previously targeting adjusted EPS in the range of $2.29 to $2.33.