CMS Energy Announces First Quarter Results for 2025, Reaffirms 2025 Adjusted EPS Guidance

Core Insights - CMS Energy reported earnings per share of $1.01 for Q1 2025, an increase from$0.96 in Q1 2024, with adjusted earnings per share at $1.02 compared to$0.97 in the previous year [1][2][8] - The company reaffirmed its 2025 adjusted earnings guidance of $3.54 to$3.60 per share, with a long-term adjusted EPS growth target of 6 to 8 percent [2][3] - The CEO highlighted operational and financial progress, supported by a favorable electric rate case outcome and ongoing investments in electric and gas systems [3] Financial Performance - Operating revenue for Q1 2025 was $2.447 billion, up from$2.176 billion in Q1 2024 [7] - Operating expenses increased to $1.953 billion from$1.764 billion, resulting in operating income of $494 million, compared to$412 million in the prior year [8] - Net income attributable to CMS Energy was $304 million, up from$287 million, with diluted earnings per share at $1.01 compared to$0.96 [8][13] Cash Flow and Balance Sheet - Cash and cash equivalents increased to $465 million as of March 31, 2025, from$103 million at the end of 2024 [9] - Total assets rose to $36.295 billion from$35.920 billion, while total liabilities and equity also increased to $36.295 billion [9][10] - Net cash provided by operating activities was$1 billion, compared to $956 million in the previous year, while net cash used in investing activities rose to$918 million from $637 million [12]