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CMS Energy Stock Price

51.02 +0.37 +0.73% Volume: 2,760,740 11.16.18 04:05 ET

CMS Energy Stock Price

16Nov2018 04:05 ET 51.02 +0.37 +0.73% Volume: 2,760,740

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 $0.59 Per Share, Raises 2018 Guidance And Introduces 2019 Guidance

Oct 25, 2018

JACKSON, Mich., Oct. 25, 2018 /PRNewswire/ -- CMS Energy announced today reported net income of $169 million, or $0.59 per share, for the third quarter of 2018. For the first nine months of the year, the company announced reported net income available to common stockholders of $549 million or $1.94 per share, and adjusted earnings per share of $1.93. The company raised its guidance for 2018 adjusted earnings per share to $2.31 - $2.34 per share (*See below for important information about non-GAAP measures). Additionally, CMS Energy introduced 2019 adjusted earnings per share guidance of $2.46 to $2.50, reflecting continued growth of 6 to 8 percent.

CMS Energy Logo

"With strong operational and financial performance year-to-date, we are confident in our ability to continue to produce consistent, industry-leading results," said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. "Our mindset remains focused on finishing this year strong with an eye toward the future. Looking ahead to 2019 and beyond, our long-term adjusted EPS growth remains at 6 to 8 percent with a bias toward the midpoint. Our EPS and dividend growth rates offer one of the best total shareholder returns in the industry."

 CMS Energy noted several accomplishments in the third quarter:

  • Replacing a record level of vintage gas service lines statewide improving safety and reliability for the residents of Michigan
  • Continuing work on our multi-year, $800-million upgrade to the Ludington Pumped Hydro Storage Facility which will increase the plant's generating capacity by 50 MW a unit, for a total summer capacity of nearly 2,300 MW
  • Donating $2 million to date in low-income heating assistance to keep families in Michigan safe and warm this winter season

"I'm proud of the team and the results we are delivering for our customers and investors," said Poppe.

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 2018 third quarter results and provide a business and financial outlook on October 25 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 per share. 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.

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

Consolidated Statements of Income

(Unaudited)






In Millions, Except Per Share Amounts



Three Months Ended


Nine Months Ended



9/30/18


9/30/17


9/30/18


9/30/17














Operating revenue

$

1,599


$

1,527


$

5,044


$

4,805














Operating expenses


1,305



1,197



4,132



3,846














Operating Income


294



330



912



959














Other income


22



10



73



33














Interest charges


114



111



337



328














Income Before Income Taxes


202



229



648



664














Income tax expense


33



57



98



200














Net Income


169



172



550



464














Income attributable to noncontrolling interests


-



-



1



1














Net Income Available to Common Stockholders

$

169


$

172


$

549


$

463



























Basic Earnings Per Average Common Share

$

0.60


$

0.61


$

1.95


$

1.65

Diluted Earnings Per Average Common Share


0.59



0.61



1.94



1.65

 

 

CMS ENERGY CORPORATION

Summarized Consolidated Balance Sheets

(Unaudited)






In Millions



As of



9/30/18


12/31/17

Assets








Current assets








Cash and cash equivalents


$

323



$

182

Restricted cash and cash equivalents



42




17

Other current assets



2,009




2,276

Total current assets



2,374




2,475

Non-current assets








Plant, property, and equipment



17,790




16,761

Other non-current assets



3,749




3,814

Total Assets


$

23,913



$

23,050










Liabilities and Equity








Current liabilities (1)


$

1,192



$

1,511

Non-current liabilities (1)



6,741




6,574

Capitalization








Debt, capital leases, and financing obligation (excluding securitization debt) (2)








Debt, capital leases, and financing obligation (excluding non-recourse and securitization debt)



9,370




8,940

Non-recourse debt



1,534




1,245

Total debt, capital leases, and financing obligation (excluding securitization debt)



10,904




10,185

Noncontrolling interests



37




37

Common stockholders' equity



4,749




4,441

Total capitalization (excluding securitization debt)



15,690




14,663

Securitization debt (2)



290




302

Total Liabilities and Equity


$

23,913



$

23,050










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


(2) Includes current and non-current portions.



















CMS ENERGY CORPORATION

Summarized Consolidated Statements of Cash Flows

(Unaudited)












In Millions



Nine Months Ended



9/30/18


9/30/17










Beginning of Period Cash and Cash Equivalents, Including Restricted Amounts


$

204



$

257










Net cash provided by operating activities



1,565




1,199

Net cash used in investing activities



(1,815)




(1,354)

Cash flows from operating and investing activities



(250)




(155)

Net cash provided by financing activities



412




71










Total Cash Flows


$

162



$

(84)










End of Period Cash and Cash Equivalents, Including Restricted Amounts


$

366



$

173

 

 

CMS ENERGY CORPORATION

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

(Unaudited)






In Millions, Except Per Share Amounts



Three Months Ended


Nine Months Ended



9/30/18


9/30/17


9/30/18


9/30/17














Net Income Available to Common Stockholders

$

169


$

172


$

549


$

463

Reconciling items:












Discontinued operations (income) loss


(*)



*



(*)



Restructuring costs and other




1



1



3

Tax impact


(*)



(*)



(*)



(1)

Gain on assets previously sold


-



-



(4)



-

Tax impact


-



-



1



-














Adjusted net income – non-GAAP

$

169


$

173


$

547


$

465














Average Common Shares Outstanding












Basic


282.5



280.8



282.1



279.8

Diluted


283.2



281.6



282.8



280.6














Basic Earnings Per Average Common Share












Reported net income per share

$

0.60


$

0.61


$

1.95


$

1.65

Reconciling items:












Discontinued operations (income) loss


(*)





(*)



Restructuring costs and other




0.01





0.01

Tax impact


(*)



(*)



(*)



(*)

Gain on assets previously sold


-



-



(0.01)



-

Tax impact


-



-





-














Adjusted net income per share – non-GAAP

$

0.60


$

0.62


$

1.94


$

1.66














Diluted Earnings Per Average Common Share












Reported net income per share

$

0.59


$

0.61


$

1.94


$

1.65

Reconciling items:












Discontinued operations (income) loss


(*)





(*)



Restructuring costs and other




0.01





0.01

Tax impact


(*)



(*)



(*)



(*)

Gain on assets previously sold


-



-



(0.01)



-

Tax impact


-



-





-














Adjusted net income per share – non-GAAP

$

0.59


$

0.62


$

1.93


$

1.66














* Less than $0.5 million or $0.01 per share.



















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.  

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/cms-energy-announces-third-quarter-earnings-of-0-59-per-share-raises-2018-guidance-and-introduces-2019-guidance-300737089.html

SOURCE CMS Energy

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