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CMS Energy Stock Price

68.83 -0.38 -0.55% Volume: 2,142,005 05.20.22 04:03 ET

CMS Energy Stock Price

20May2022 04:03 ET 68.83 -0.38 -0.55% Volume: 2,142,005

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 Strong First Quarter Results, Reaffirms 2022 Adjusted EPS Guidance

May 03, 2022

JACKSON, Mich., May 3, 2022 /PRNewswire/ -- CMS Energy announced today reported earnings per share of $1.21 for the first quarter of 2022, compared to $1.21 per share for the same quarter in 2021. The company's adjusted earnings per share for the first quarter of 2022 were $1.20, compared to $1.09 per share for the same quarter in 2021.

CMS Energy reaffirmed its 2022 adjusted earnings guidance of $2.85 to $2.89* per share (*See below for important information about non-GAAP measures) and reaffirmed long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end of the adjusted EPS growth range.

"The settlement agreement recently filed for our 2021 Integrated Resource Plan strengthens our financial outlook and serves as a proof point of our plan for net zero carbon emissions by 2040 in our electric business. As one of the first utilities in the country to eliminate coal generation by 2025, we are leading the clean energy transformation," said Garrick Rochow, President and CEO of CMS Energy and Consumers Energy.

CMS Energy (NYSE: CMS) is a Michigan-based energy provider featuring Consumers Energy as its primary business. It also owns and operates independent power generation businesses.

CMS Energy will hold a webcast to discuss its 2022 first quarter results and provide a business and financial outlook on Tuesday, May 3 at 9:00 a.m. (EDT). To participate in the webcast, go to CMS Energy's homepage (cmsenergy.com) and select "Events and Presentations."

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. All references to net income refer to net income available to common stockholders and references to earnings per share are on a diluted basis. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, changes in accounting principles, changes in federal tax policy, regulatory items from prior years, unrealized gains or losses from mark-to-market adjustments recognized in net income related to CMS Enterprises' interest expense, or other items. 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 company's 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 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







3/31/22


3/31/21














Operating revenue







$

2,374


$

2,013














Operating expenses








1,918



1,583














Operating Income








456



430














Other income








48



44














Interest charges








124



124














Income Before Income Taxes








380



350














Income tax expense








39



42














Income From Continuing Operations








341



308














Income from discontinued operations, net of tax








4



34














Net Income








345



342














Loss attributable to noncontrolling interests








(8)



(7)














Net Income Attributable to CMS Energy








353



349














Preferred stock dividends








2



-














Net Income Available to Common Stockholders







$

351


$

349














Diluted Earnings Per Average Common Share












Income from continuing operations per average common share
    available to common stockholders


















$

1.20


$

1.09

Income from discontinued operations per average common share
    available to common stockholders



















0.01



0.12

Diluted earnings per average common share







$

1.21


$

1.21

 

 

CMS ENERGY CORPORATION

Summarized Consolidated Balance Sheets

(Unaudited)



In Millions



As of



3/31/22


12/31/21

Assets








Current assets








Cash and cash equivalents


$

446



$

452

Restricted cash and cash equivalents



28




24

Other current assets



1,985




2,151

Total current assets



2,459




2,627

Non-current assets








Plant, property, and equipment



22,540




22,352

Other non-current assets



3,741




3,774

Total Assets


$

28,740



$

28,753










Liabilities and Equity








Current liabilities (1)


$

1,432



$

1,822

Non-current liabilities (1)



7,430




7,269

Capitalization








Debt, finance leases, and other financing (excluding securitization debt) (2)








Debt, finance leases, and other financing (excluding non-recourse and securitization debt)



12,201




12,200

Non-recourse debt



74




76

Total debt, finance leases, and other financing (excluding securitization debt)



12,275




12,276

Preferred stock and securities



224




224

Noncontrolling interests



551




557

Common stockholders' equity



6,630




6,407

Total capitalization (excluding securitization debt)



19,680




19,464

Securitization debt (2)



198




198

Total Liabilities and Equity


$

28,740



$

28,753










(1)

Excludes debt, finance leases, and other financing.










(2)

Includes current and non-current portions.

 

CMS ENERGY CORPORATION                

Summarized Consolidated Statements of Cash Flows           

(Unaudited)    




In Millions



Three Months Ended



3/31/22


3/31/21










Beginning of Period Cash and Cash Equivalents, Including Restricted Amounts


$

476



$

185










Net cash provided by operating activities



707




832

Net cash used in investing activities



(539)




(283)

Cash flows from operating and investing activities



168




549

Net cash used in financing activities



(170)




(210)










Total Cash Flows


$

(2)



$

339










End of Period Cash and Cash Equivalents, Including Restricted Amounts


$

474



$

524

 

CMS ENERGY CORPORATION

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

(Unaudited)    




In Millions, Except Per Share Amounts





Three Months Ended







3/31/22


3/31/21














Net Income Available to Common Stockholders







$

351


$

349

Reconciling items:












Disposal of discontinued operations gain








(5)



-

Tax impact








1



-

Discontinued operations income








-



(43)

Tax impact








-



9

Other exclusions from adjusted earnings**








(1)



(1)

Tax impact























Adjusted net income – non-GAAP







$

346


$

314














Average Common Shares Outstanding












Diluted








289.9



289.1














Diluted Earnings Per Average Common Share












Reported net income per share







$

1.21


$

1.21

Reconciling items:












Disposal of discontinued operations gain








(0.01)



-

Tax impact










-

Discontinued operations income








-



(0.15)

Tax impact








-



0.03

Other exclusions from adjusted earnings**








(*)



(*)

Tax impact























Adjusted net income per share – non-GAAP







$

1.20


$

1.09














*

Less than $0.5 million or $0.01 per share.












**

Includes restructuring costs and unrealized gains or losses, recognized in net income, from mark-to-market adjustments related to CMS Enterprises' interest expense.















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, changes in accounting principles, changes in federal tax policy, regulatory items from prior years, unrealized gains or losses from mark-to-market adjustments, recognized in net income related to CMS Enterprises' interest expense, or other items.  The 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:https://www.prnewswire.com/news-releases/cms-energy-announces-strong-first-quarter-results-reaffirms-2022-adjusted-eps-guidance-301537965.html

SOURCE CMS Energy

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