JACKSON, Mich., Feb. 4, 2016 /PRNewswire/ -- CMS Energy announced today net income of $106 million, or $0.38 per share, for the fourth quarter of 2015, compared to $96 million, or $0.35 per share, for the same quarter of 2014.

For 2015, CMS Energy's net income is $523 million, or $1.89 per share, compared to $477 million, or $1.74 per share for 2014. Adjusted net income in 2015 was also $523 million, or $1.89 per share at the high end of guidance, compared to $486 million or $1.77 per share for 2014.

CMS Energy raised guidance for 2016 earnings to $1.99 to $2.02 per share, building, as always over the last 13 years, on the company's actual high-end performance.

The company also increased its projected spending on capital expenditures over the next 10 years from $15.5 billion to $17 billion. The additional spending enables CMS Energy to increase its earnings per share guidance to 6% to 8%, starting in 2017.

"The future looks bright for CMS. Our 10-year plan now includes $17 billion of needed capital investment projects to further improve customer service, including upgrading infrastructure, improving reliability and making renewable energy investments," said John Russell, CMS Energy's president and chief executive officer.

"Our unique business model has worked well for more than a decade and we expect it will continue going forward. Our earnings per share (EPS) guidance for 2016 has been raised to $1.99 to $2.02, up 5% to 7% over last year. In 2017, EPS is expected to increase by 6% to 8% over 2016 actual EPS while ensuring that residential customer bills remain below the national average."

In reflecting on year-end results, Russell commented, "2015 marked great progress for CMS Energy as we continued execution of our long-term plan to deliver excellent customer service and top-end earnings growth, our 13^th consecutive year of consistent financial performance. I am particularly proud of the fact that this was the safest year in our company's history, with a 29% reduction in employee injuries compared to 2014."

Several other important CMS Energy 2015 accomplishments were highlighted:

• Significant improvements in customer satisfaction as CMS earned first quartile performance for both residential electric and natural gas customer satisfaction, the first time in more than a decade.
• Best ever electric generation reliability, with record runs at several facilities and a 6^th place national ranking.
• Accelerating transition to a cleaner energy portfolio with 650 megawatts of gas and wind power added to the company's generating fleet.
• Improved electric distribution reliability performance, including decade-best performance for service restoration following an outage.
• Lowest-cost gas utility in Michigan due in part to specific steps the company took to drop fuel prices to the lowest level since 2001, a nearly 65% reduction.
• Announced that the company will spend $5 billion over the next 5 years with other Michigan-based companies as part of Pure Michigan Business Connect, creating an estimated 7,500 jobs.
• Recognized for accomplishments in sustainability broadly, and named among Michigan's 2015 Best and Brightest Sustainable Companies.

Russell also noted that Michigan's economy is growing, with nearly two-thirds of all manufacturing jobs in the U.S. last year were added in Michigan. In addition, the state's unemployment rate in 2015 fell below the U.S. average, for the first time since 2000.

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.

CMS Energy will hold a webcast to discuss its 2015 fourth-quarter results and provide a business and financial outlook on February 4 at 9:00 AM (EST). To participate in the Webcast, go to CMS Energy's home page (www.cmsenergy.com) and select "Investor Meeting."

Investors and others should note that CMS Energy routinely posts important information on its website and considers the Investor Relations section, www.cmsenergy.com/investor-relations, a channel of distribution.

This news release contains non-Generally Accepted Accounting Principles (non-GAAP) measures, such as adjusted earnings. Management views adjusted earnings as a key measure of the company's present operating financial performance, unaffected by discontinued operations, asset sales, impairments, regulatory items from prior years, or other items detailed in the attached summary financial statements. These items have the potential to impact, favorably or unfavorably, the company's reported earnings.  

This news release contains "forward-looking statements." The forward-looking statements are subject to risks and uncertainties that could cause CMS Energy's and Consumers Energy's results to differ materially. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in CMS Energy's and Consumers Energy's Securities and Exchange Commission filings. 

For more information on CMS Energy, please visit our website: www.cmsenergy.com

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SOURCE CMS Energy