ATRs are capable of isolating outages by detecting power loss and immediately rerouting power in the opposite direction. Meanwhile, line sensors can detect grid faults and provide their locations, thereby preventing outages before they occur. Deploying these state-of-the-art technologies in its transmission and distribution systems will reduce outage events for CMS customers and strengthen its grid reliability, which should boost its customer base and revenue growth. In 2023, ATRs successfully avoided outag ...

Financial Data and Key Metrics Changes - In Q1 2024, the company reported adjusted earnings per share of $0.97, benefiting from higher weather-normalized sales and lower service restoration costs, despite experiencing a warmer-than-normal winter [24][67][68] - Rate relief net of investment-related expenses contributed $0.05 per share of positive variance due to favorable outcomes from recent electric and gas rate cases [26][69] - Weather-normalized sales for residential customers increased by approximately 0.5%, while commercial customer sales rose nearly 2.5% compared to the previous year [27][68] Business Line Data and Key Metrics Changes - The electric distribution system is undergoing modernization to enhance reliability and resilience, with a focus on addressing aging infrastructure [17][18] - The company is leading the transition to clean energy, with plans to eliminate coal by 2025 and achieve net-zero carbon emissions by 2040 [19][20] - A significant contract with a large data center is expected to add 230 megawatts of load by 2026, contributing to load growth in the service territory [22][24] Market Data and Key Metrics Changes - The company anticipates a supportive regulatory environment with the new clean energy law in Michigan, which includes a financial compensation mechanism providing a roughly 9% return on clean purchase power agreements [20][39] - The company is experiencing growth in manufacturing loads, which is expected to positively impact its financial outlook [41][42] Company Strategy and Development Direction - The company is focused on improving the reliability and resiliency of its electric and gas systems through a five-year $7 billion electric reliability roadmap [37][38] - The strategy includes balancing customer affordability with necessary capital investments to strengthen the system and prepare for a clean energy future [35][36] - The company is committed to economic development in Michigan, which is seen as beneficial for both the company and its customers [41][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook, reaffirming financial objectives despite challenges posed by weather conditions [24][44][69] - The company is optimistic about the impact of the new clean energy law and its potential to enhance financial performance while supporting environmental goals [29][39] - Management highlighted the importance of maintaining affordability for customers while making necessary investments [35][36] Other Important Information - The company plans to file a Renewable Energy Plan (REP) by mid-November, which will outline strategies for meeting renewable energy targets [49] - Moody's and Fitch reaffirmed the company's credit ratings in March and April, indicating strong financial health [30] Q&A Session Summary Question: How does the lack of ALJ affect the gas case timeline? - Management indicated confidence in the merits of the case and readiness to proceed to full litigation if necessary, ensuring a good outcome for customers and stakeholders [9][63] Question: What are the drivers behind the sales outlook? - Management noted a nearly 3.5% increase in commercial sales, with specific subsectors like agriculture and entertainment performing well, contributing to the positive outlook [65][66] Question: What is the company's strategy regarding the new energy law? - Management stated that the REP will incorporate enhanced economic incentives for energy efficiency and will be filed in November, with a focus on balancing customer needs and financial performance [57][82] Question: What is the outlook for data center demand? - Management acknowledged ongoing interest from large data center providers in Michigan, emphasizing the state's favorable conditions for such developments [94][95] Question: What are the expectations for the performance-based rates process? - Management described the process as constructive, with a focus on narrowing down metrics to ensure effective benchmarking [100]

BBB Baa3 Stable Mar. 2024 | --- | --- | --- | --- | |------------------|--------|--------|--------| | | | | | | Senior Secured | A | A1 | A+ | | Commercial Paper | A-2 | P-2 | F-2 | | Outlook | Stable | Stable | Stable | Industry-Leading Financial Performance . . . Dave Joos John Russell Patti Poppe K. Whipple Presentation endnotes are included after the appendix. CMS ENERGY 11 11 12 Sensitivity Adj. EPS OCF ($M) 1% + + 4 Utility Earned ROE 10 bps 8 10 6 Effective Tax Rate (18%) + 100 bps 3 0 2024 Adj. EPS ...

CMS Energy Corporation (CMS) reported first-quarter 2024 adjusted earnings per share (EPS) of 97 cents, which beat the Zacks Consensus Estimate of 92 cents by 5.4%. The bottom line, however, increased 38.6% from 70 cents reported in the prior-year quarter. The year-over-year improvement can be attributed to higher weather-normalized sales and lower storm restoration costs.The company’s GAAP earnings came in at 96 cents per share compared with 69 cents in the first quarter of 2023.RevenuesOperating revenues ...

Additionally, to advance its environmental stewardship in Michigan and to minimize the impact of future regulations, Consumers set the following goals for the five-year period 2023 through 2027: For the three months ended March 31, 2024, CMS Energy's net income available to common stockholders was $285 million, and diluted EPS were $0.96. This compares with net income available to common stockholders of $202 million and diluted EPS of $0.69 for the three months ended March 31, 2023. In 2024, gas and electri ...

CMS Energy (CMS) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.92 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.43%. A quarter ago, it was expected that this energy company would post earnings of $1.04 per share when it actually produced earnings of $1.05, delivering a surprise of 0.96%.Over the last four quarters, the company h ...

[CMS Energy Q1 2024 Earnings Release](index=1&type=section&id=CMS%20Energy%20Q1%202024%20Earnings%20Release) [Financial Highlights and Outlook](index=1&type=section&id=Financial%20Highlights%20and%20Outlook) The company reported strong Q1 2024 results with significant EPS growth and reaffirmed its full-year guidance Q1 Earnings Per Share Comparison | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Reported EPS | $0.96 | $0.69 | | Adjusted EPS | $0.97 | $0.70 | - The company reaffirmed its 2024 adjusted earnings guidance of **$3.29 to $3.35 per share** and its long-term adjusted EPS growth target of **6% to 8%**[7](index=7&type=chunk) - Key drivers for the improved Q1 performance were **higher weather-normalized sales** and **lower storm restoration costs**[7](index=7&type=chunk) - CEO Garrick Rochow expressed confidence in meeting full-year guidance and highlighted progress in the **electric Reliability Roadmap** and **clean energy transformation**[7](index=7&type=chunk) [Consolidated Financial Statements](index=3&type=section&id=Consolidated%20Financial%20Statements) The company's Q1 2024 statements show lower operating revenue but higher net income, asset growth, and a decline in operating cash flow [Consolidated Statements of Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income) Despite a decrease in operating revenue, lower operating expenses drove a substantial increase in operating and net income for Q1 2024 Q1 2024 vs Q1 2023 Income Statement (In Millions, Except Per Share) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Operating Revenue | $2,176 | $2,284 | | Operating Income | $412 | $314 | | Net Income Available to Common Stockholders | $285 | $202 | | Diluted Earnings Per Share | $0.96 | $0.69 | [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets and common stockholders' equity increased as of March 31, 2024, compared to year-end 2023 Balance Sheet Comparison (In Millions) | Metric | As of 3/31/24 | As of 12/31/23 | | :--- | :--- | :--- | | Total Assets | $33,901 | $33,517 | | Total Debt and Finance Leases | $15,019 | $14,856 | | Common Stockholders' Equity | $7,722 | $7,320 | [Consolidated Statements of Cash Flows](index=4&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased year-over-year, while the company ended the quarter with a significantly higher cash balance Cash Flow Summary (In Millions) | Metric | Three Months Ended 3/31/24 | Three Months Ended 3/31/23 | | :--- | :--- | :--- | | Net cash provided by operating activities | $956 | $1,040 | | Net cash used in investing activities | $(637) | $(651) | | Net cash provided by financing activities | $294 | $27 | | End of Period Cash and Cash Equivalents | $861 | $598 | [Reconciliation of GAAP to Non-GAAP Measures](index=5&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) The company reconciled GAAP net income to a higher non-GAAP adjusted net income for Q1 2024 by excluding certain restructuring and optimization costs Q1 GAAP to Non-GAAP Reconciliation (In Millions, Except Per Share) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net Income Available to Common Stockholders (GAAP) | $285 | $202 | | Reconciling Items (net) | $3 | $2 | | **Adjusted Net Income (Non-GAAP)** | **$288** | **$204** | | Diluted EPS (GAAP) | $0.96 | $0.69 | | **Adjusted EPS (Non-GAAP)** | **$0.97** | **$0.70** | [Important Disclosures](index=2&type=section&id=Important%20Disclosures) The report clarifies the use of non-GAAP measures for performance assessment and includes a standard forward-looking statement disclaimer - The company uses non-GAAP measures like adjusted earnings for internal performance assessment and external communication with analysts and investors, viewing them as a **key measure of operating financial performance**[3](index=3&type=chunk)[10](index=10&type=chunk) - The news release contains forward-looking statements subject to risks and uncertainties that could cause results to differ materially and advises investors to consider risk factors detailed in the company's **SEC filings**[3](index=3&type=chunk)

JACKSON, Mich., April 25, 2024 /PRNewswire/ -- CMS Energy announced today reported earnings per share of $0.96 for the first quarter of 2024, compared to $0.69 per share for 2023. The company's adjusted earnings per share for the first quarter were $0.97, compared to $0.70 per share for 2023 primarily due to higher weather-normalized sales and lower storm restoration costs. CMS Energy reaffirmed its 2024 adjusted earnings guidance to $3.29 to $3.35 per share (*See below for important information about non-G ...

CMS Energy (CMS) is scheduled to release its first-quarter 2024 results on Apr 25 before market open. The company delivered an earnings surprise of 0.96% in the last reported quarter.The company holds a four-quarter average earnings surprise of 3.14%.  Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors at PlayIn the first quarter, CMS Energy’s service areas witnessed mixed weather patterns. The majority of its service areas recorded cold temperatures accompan ...

JACKSON, Mich., April 22, 2024 /PRNewswire/ -- The Board of Directors of CMS Energy has declared a quarterly dividend on the company's common stock. The dividend for the common stock (CUSIP: 125896100) is 51.50 cents per share. It is payable May 31, 2024, to shareholders of record on May 15, 2024. Additional dividend information, including the tax status of CMS Energy's dividend distributions, can be obtained through the Tax Information section of CMS Energy's website, www.cmsenergy.com. CMS Energy (NYSE: C ...