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CMS Energy Stock Price

50.48 -0.20 -0.4% Volume: 1,918,809 10.22.18 04:02 ET

CMS Energy Stock Price

22Oct2018 04:02 ET 50.48 -0.20 -0.4% Volume: 1,918,809

Media Contacts

MEGAN
BROWN
Senior Director of Public Relations
and Communications
517-788-6538
megan.brown@cmsenergy.com
KATIE
CAREY
Director of Media Relations
517-788-2395
katelyn.carey@cmsenergy.com
BRIAN
WHEELER
Senior Public Information Director
517-788-2394
brian.wheeler@cmsenergy.com

Disclaimer

Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk.

CMS Energy, Corp. (“CMS”) has no control over the External Site, any data or other content contained therein or any additional linked websites. The link to the External Site is provided for convenience purposes only. By clicking “Accept” you acknowledge and agree that neither CMS nor third party provider Virtua Research, Inc. (“Virtua) is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data or the technical operation of the Linked Site. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably waive any and all rights and claims against CMS and Virtua and further acknowledge and agree that in no event shall CMS or Virtua, its officers, employees, directors and agents be liable for any (i) indirect, consequential, incidental, special, compensatory or punitive damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to the Legal Notice, this disclaimer or the External Site

By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if CMS and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s). If in any jurisdiction, any part of this disclaimer is held to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent and the remaining disclaimer shall otherwise remain in full force and effect.

Please note the information presented is deemed representative at the time of its original release. Changes in historical information may occur due to adjustments in accounting and reporting standards & procedures.

Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, CMS may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including net income, earnings per share, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. CMS provides historical financial results on both a GAAP and non-GAAP basis. Management views adjusted earnings as a key measure of the company’s present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, regulatory items from prior years, or other items. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company’s reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings.

CMS and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data. The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should be considered supplemental information to assist in fully understanding our business results, rather than as a substitute for the reported earnings.

A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included as a separate link and also posted on the CMS website at www.cmsenergy.com.

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News Releases

CMS Energy Announces First Quarter Earnings of $0.73 Per Share, Reaffirms Adjusted Earnings Guidance of $1.86 to $1.89 Per Share

Apr 23, 2015

JACKSON, Mich., April 23, 2015 /PRNewswire/ -- CMS Energy announced today reported net income of $202 million, or $0.73 per share, for the first quarter of 2015, compared to reported net income of $204 million, or $0.75 per share, for the same quarter of 2014. Earnings per share in 2015 grew 7 percent compared with 2014 on a weather-normalized basis.

CMS Energy reaffirmed its guidance for 2015 adjusted earnings of $1.86 to $1.89 per share. This is consistent with the company's long-term plan of 5 percent to 7 percent annual adjusted earnings per share growth.   

First quarter results reflect successful execution of CMS Energy's business plan and the effects of cold weather, including records set in February for both natural gas deliveries and electric sales. The company is reinvesting profits from increased natural gas and electric sales into the business with a continued focus on safety, customer service, reliability and the environment.

John Russell , CMS Energy's president and chief executive officer, said that CMS Energy's principal subsidiary, Consumers Energy, is making substantial investments in its natural gas and electric infrastructure that are driving improved customer service and system performance.

Gas withdrawals this winter were nearly 114 billion cubic feet, one of the largest withdrawal levels in the past decade. The company's expanded storage system, the largest in the nation among regulated gas utilities, has the capacity to meet 80 percent of customer needs during colder-than-normal peak weather events.

"During this second consecutive colder-than-normal winter our customers received safe and reliable energy service. This performance underscores that our long-term strategy to expand and strengthen our gas distribution, transmission and storage system is paying off for our customers," Russell said.

In April the company reduced its gas price to the lowest level since 2001, saving an average residential customer about $500 annually – or more than 60 percent -- compared to a decade ago. The price being charged this month is the lowest in Michigan among regulated providers.

Consumers Energy announced achievement of its commitment to increase by $1 billion its purchase of Michigan-made goods and services since 2011, as part of Pure Michigan Business Connect. This program has added about 5,000 jobs by suppliers and is in addition to the more than $2 billion the company spends each year in Michigan.         

The Edison Electric Institute presented Consumers Energy with its "Emergency Recovery Award" for outstanding power restoration efforts after a severe ice storm hit Michigan in December 2013.

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 first quarter results and provide a business and financial outlook on April 23 at 8:30 AM (EDT).  To participate in the Webcast, go to CMS Energy's home page (www.cmsenergy.com) and select "Investor Meeting."

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. 

Investors and others should note that CMS Energy and Consumers Energy post important financial information using the investor relations section of the CMS Energy website, www.cmsenergy.com and Securities and Exchange Commission filings.

For more information on CMS Energy, please visit our web site at: www.cmsenergy.com

 

CMS Energy Corporation

SUMMARIZED CONSOLIDATED STATEMENTS OF INCOME 

(In Millions, Except Per Share Amounts)


























First Quarter




(Unaudited)




2015


2014









Operating Revenue

$   2,111


$   2,523









Operating Expenses

1,714


2,115









Operating Income 

$      397


$      408









Other Income 

6


2









Interest Charges

101


101









Income before Income Taxes

$      302


$      309









Income Tax Expense 

100


105









Net Income Available to Common Stockholders

$      202


$      204















Income Per Share 






             Basic

$     0.73


$     0.77



             Diluted

0.73


0.75









 

 

CMS Energy Corporation

SUMMARIZED CONSOLIDATED BALANCE SHEETS

(In Millions)




March 31


December 31


2015


2014


(Unaudited)

Assets




Cash and cash equivalents

$            522


$          207

Restricted cash and cash equivalents

49


37

Other current assets

1,930


2,353

   Total current assets

$         2,501


$       2,597

Plant, property, and equipment

13,526


13,412

Other non-current assets

3,171


3,176

Total Assets

$       19,198


$     19,185









Liabilities and Equity




Current liabilities

$         1,056


$       1,414

Non-current liabilities 

5,500


5,325

Capitalization




   Debt, capital leases, and financing obligation (*)




      Debt, capital leases, and financing obligation 




         (excluding non-recourse and securitization debt)

7,463


7,428

      Non-recourse debt 

924


884

   Total debt, capital leases, and financing obligation

8,387


8,312

   Noncontrolling interests

37


37

   Common stockholders' equity

3,802


3,670

   Total capitalization

$       12,226


$     12,019

Securitization debt

416


427

Total Liabilities and Equity

$       19,198


$     19,185





(*) Current and long-term




 

 

CMS Energy Corporation

SUMMARIZED STATEMENTS OF CASH FLOWS

(In Millions)


First Quarter


(Unaudited)


2015


2014









Beginning of Period Cash

$           207


$         172









Cash provided by operating activities

$           760


$         611

Cash used in investing activities

(422)


(346)

Cash flow from operating and investing activities

$           338


$         265

Cash provided by (used in) financing activities

(23)


321

Total Cash Flow

$           315


$         586









End of Period Cash

$           522


$         758









 

 

CMS Energy Corporation

SUMMARY OF CONSOLIDATED EARNINGS

Reconciliations of GAAP Net Income to Non-GAAP Adjusted Net Income 

(In Millions, Except Per Share Amounts)










First Quarter





(Unaudited)





2015


2014










Net Income Available to Common Stockholders

$      202


$      204










Reconciling Items:







Discontinued Operations Income

 (*) 


 (*) 











Restructuring Costs and Other

 * 


 * 










Adjusted Net Income - Non-GAAP Basis

$      202


$      204

















Average Number of Common Shares Outstanding







Basic

275


266




Diluted

276


273










Basic Earnings Per Average Common Share













Net Income Per Share as Reported

$     0.73


$     0.77










Reconciling Items:







Discontinued Operations Income

 (*) 


 (*) 











Restructuring Costs and Other

 * 


 * 










Adjusted Net Income - Non-GAAP Basis

$     0.73


$     0.77

















Diluted Earnings Per Average Common Share













Net Income Per Share as Reported

$     0.73


$     0.75










Reconciling Items:







Discontinued Operations Income

 (*) 


 (*) 











Restructuring Costs and Other

 * 


 * 










Adjusted Net Income - Non-GAAP Basis

$     0.73


$     0.75

















Note:

Management views adjusted (non-Generally Accepted Accounting Principles) 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 these summary financial statements.








* Less than $500 thousand or $0.01 per share.













 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cms-energy-announces-first-quarter-earnings-of-073-per-share-reaffirms-adjusted-earnings-guidance-of-186-to-189-per-share-300070598.html

SOURCE CMS Energy

Media Contacts: Dan Bishop, 517/788-2395 or Brian Wheeler, 517/788-2394, Investment Analyst Contact: CMS Energy Investor Relations, 517/788-2590

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