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CMS Energy Stock Price

65.19 +1.07 +1.67% Volume: 2,345,898 06.24.22 04:03 ET

CMS Energy Stock Price

24Jun2022 04:03 ET 65.19 +1.07 +1.67% Volume: 2,345,898

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 Third Quarter Earnings Of $0.61 Per Share, Or $0.62 Per Share On An Adjusted Basis; Raises 2017 Adjusted Earnings Guidance, And Introduces 2018 Adjusted Earnings Guidance

Oct 26, 2017

JACKSON, Mich., Oct. 26, 2017 /PRNewswire/ -- CMS Energy announced today reported net income of $172 million, or $0.61 per share, for the third quarter of 2017 and $463 million, or $1.65 per share, for the first nine months of the year. On an adjusted basis, which excludes $0.01 for legacy legal costs, the company had net income of $173 million, or $0.62 per share, for the third quarter, and $465 million, or $1.66 per share, for the first nine months of the year. On a weather-normalized basis, adjusted earnings per share improved by $0.13 or 8 percent for the first nine months, versus the same period last year.

CMS Energy Logo

CMS Energy raised the low end of its guidance for 2017 adjusted earnings to $2.15 to $2.18 per share (*See below for important information about non-GAAP measures) or 6 to 8 percent annual adjusted earnings per share growth. Additionally, CMS Energy introduced 2018 adjusted earnings per share guidance of $2.29 to $2.33, reflecting growth of 6 to 8 percent.

"My co-workers and I work every day to ensure our customers have the reliable and affordable electricity and natural gas they need to power their homes and businesses," said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. "We work hard for the good of Michigan because we live here too – and we want to see our state succeed. During the third quarter, we have continued on a path of world class performance delivering hometown service, while remaining on track to meet our financial objectives."

CMS Energy noted several accomplishments in the third quarter:

  • Achieved record customer electric reliability this quarter despite multiple storms
  • Pledged $1 million to help with the creation of the Flint Promise, a scholarship program for Flint children through the Consumers Energy Foundation
  • Deployed over 350 Consumers Energy employees and contractors to Florida and Georgia to help restore power after Hurricane Irma
  • Launched a new pilot program to allow large business customers to be powered 100 percent by renewable energy

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 2017 third quarter results and provide a business and financial outlook on October 26 at 8:30 AM (EDT). To participate in the Webcast, go to CMS Energy's home page (www.cmsenergy.com) and select "Investor Meeting."

Important information for investors about non-GAAP measures and other disclosures.

*This news release contains non-Generally Accepted Accounting Principles (non-GAAP) measures, such as adjusted earnings. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, regulatory items from prior years, or other items detailed in the attached summary financial statements. 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. 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. The adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for the reported earnings. Adjusted weather-normalized earnings are provided to show the impact of deviations from normal weather.

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 routinely posts important information on its website and considers the Investor Relations section, www.cmsenergy.com/investor-relations, a channel of distribution.

For more information on CMS Energy, please visit our website at www.cmsenergy.com. To sign up for email alert notifications, please visit the Investor Relations section of our website.

 

CMS Energy Corporation

SUMMARIZED CONSOLIDATED STATEMENTS OF INCOME

(In Millions, Except Per Share Amounts)




Third Quarter


Nine Months


(Unaudited)


(Unaudited)


2017


2016


2017


2016









Operating Revenue

$    1,527


$    1,587


$    4,805


$    4,759









Operating Expenses

1,197


1,212


3,846


3,783









Operating Income 

$      330


$      375


$      959


$      976









Other Income 

10


16


33


50









Interest Charges

111


110


328


324









Income before Income Taxes

$      229


$      281


$      664


$      702









Income Tax Expense 

57


95


200


227









Net Income 

$      172


$      186


$      464


$      475









Income Attributable to Noncontrolling Interests

-


-


1


1









Net Income Available to Common Stockholders

$      172


$      186


$      463


$      474

















Income Per Share 








             Basic

$     0.61


$     0.67


$     1.65


$     1.71

             Diluted

0.61


0.67


1.65


1.70









 

 

CMS Energy Corporation

SUMMARIZED CONSOLIDATED BALANCE SHEETS

(In Millions)




September 30


December 31


2017


2016


(Unaudited)

Assets




Cash and cash equivalents

$           142


$         235

Restricted cash and cash equivalents

27


19

Other current assets

1,952


2,026

   Total current assets

$         2,121


$       2,280

Plant, property, and equipment

16,444


15,715

Other non-current assets

3,555


3,627

Total Assets

$       22,120


$     21,622









Liabilities and Equity




Current liabilities (1)

$         1,051


$       1,371

Non-current liabilities (1)

6,166


5,927

Capitalization




   Debt, capital leases, and financing obligation (2)




      Debt, capital leases, and financing obligation 




         (excluding non-recourse and securitization debt)

8,779


8,508

      Non-recourse debt 

1,237


1,198

   Total debt, capital leases, and financing obligation

10,016


9,706

   Noncontrolling interests

37


37

   Common stockholders' equity

4,535


4,253

   Total capitalization

$       14,588


$     13,996

Securitization debt (2)

315


328

Total Liabilities and Equity

$       22,120


$     21,622





(1)Excludes debt, capital leases, financing obligation and securitization debt




(2)Current and long-term












CMS Energy Corporation

SUMMARIZED STATEMENTS OF CASH FLOWS

(In Millions)


Nine Months


(Unaudited)


2017


2016









Beginning of Period Cash and Cash Equivalents (Including Restricted Amounts)

$           257


$         288









Cash provided by operating activities

$         1,199


$       1,241

Cash used in investing activities

(1,354)


(1,398)

Cash flow from operating and investing activities

$          (155)


$        (157)

Cash provided by financing activities

71


237

Total Cash Flow

$            (84)


$           80









End of Period Cash and Cash Equivalents (Including Restricted Amounts)

$           173


$         368









 

 


CMS Energy Corporation


SUMMARY OF CONSOLIDATED EARNINGS


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


(In Millions, Except Per Share Amounts)







Third Quarter


Nine Months



(Unaudited)


(Unaudited)



2017


2016


2017


2016










Net Income Available to Common Stockholders

$      172


$      186


$      463


$      474










Reconciling Items:









Discontinued Operations (Income) Loss

 * 


 (*) 


 *  


 *  











Voluntary Separation Program

-


11


-


11


Tax Impact

-


(4)


-


(4)











Restructuring Costs and Other

1


2


3


2


Tax Impact

 (*) 


(1)


(1)


(1)










Adjusted Net Income - Non-GAAP Basis

$      173


$      194


$      465


$      482











Non-Normal Weather Impacts

10


(48)


82


(9)


Tax Impact

(4)


18


(32)


3










Adjusted Weather-Normalized Net Income - Non-GAAP Basis

$      179


$      164


$      515


$      476










Average Number of Common Shares Outstanding









Basic

281


278


280


278


Diluted

282


279


281


279










Basic Earnings Per Average Common Share

















Net Income Per Share as Reported

$     0.61


$     0.67


$     1.65


$     1.71










Reconciling Items:









Discontinued Operations (Income) Loss

 *  


 (*) 


 *  


 *  











Voluntary Separation Program

-


0.04


-


0.04


Tax Impact

-


(0.01)


-


(0.01)











Restructuring Costs and Other

0.01


 *  


0.01


 *  


Tax Impact

 (*) 


 (*) 


 (*) 


 (*) 










Adjusted Net Income Per Share - Non-GAAP Basis

$     0.62


$     0.70


$     1.66


$     1.74











Non-Normal Weather Impacts

0.03


(0.17)


0.29


(0.03)


Tax Impact

(0.01)


0.07


(0.11)


0.01










Adjusted Weather-Normalized Net Income Per Share - Non-GAAP Basis

$     0.64


$     0.60


$     1.84


$     1.72










Diluted Earnings Per Average Common Share

















Net Income Per Share as Reported

$     0.61


$     0.67


$     1.65


$     1.70










Reconciling Items:









Discontinued Operations (Income) Loss

 *  


 (*) 


 *  


 *  











Voluntary Separation Program

-


0.04


-


0.04


Tax Impact

-


(0.01)


-


(0.01)











Restructuring Costs and Other

0.01


 *  


0.01


 *  


Tax Impact

 (*) 


 (*) 


 (*) 


 (*) 










Adjusted Net Income Per Share - Non-GAAP Basis

$     0.62


$     0.70


$     1.66


$     1.73











Non-Normal Weather Impacts

0.03


(0.17)


0.29


(0.03)


Tax Impact

(0.01)


0.07


(0.11)


0.01










Adjusted Weather-Normalized Net Income Per Share - Non-GAAP Basis

$     0.64


$     0.60


$     1.84


$     1.71










Note:

Management views adjusted (non-Generally Accepted Accounting Principles) 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 detailed in these summary financial statements.  Adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for reported earnings.  Adjusted weather-normalized earnings are provided to show the impact of deviations from normal weather.









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

















View original content with multimedia:http://www.prnewswire.com/news-releases/cms-energy-announces-third-quarter-earnings-of-061-per-share-or-062-per-share-on-an-adjusted-basis-raises-2017-adjusted-earnings-guidance-and-introduces-2018-adjusted-earnings-guidance-300543579.html

SOURCE CMS Energy

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

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