CMS Energy(CMS) - 2024 Q3 - Earnings Call Presentation

Financial Performance & Outlook - CMS Energy's adjusted EPS for YTD 2024 is $247[36], showing an increase compared to 2023, with confidence in achieving the full-year outlook - The company projects an adjusted EPS guidance of $329 to $335 for full-year 2024[36], aiming towards the higher end of the range - For 2025, the adjusted EPS guidance is set at $352 to $358[37], also targeting the higher end - The long-term adjusted EPS growth is projected at +6% to +8%[6,37], with a dividend per share growth also around +6% to +8%[6,37], targeting a ~60% payout ratio over time[37] Capital Investments & Financings - The utility capital plan is estimated at $17 billion[37], which is planned to be updated on the Q4 call - Consumers Energy completed first mortgage bond financings of approximately $13 billion[45], slightly exceeding the planned $1275 billion[45] - CMS Energy completed contracted equity issuances of approximately $266 million[46], aligning with the planned amount of ~$266 million[46] Regulatory & Operational Highlights - A new Michigan Energy Law is in effect from June 1, 2024[7,57], including a Renewable Portfolio Standard targeting 60% by 2035[11] and a Clean Energy Standard aiming for 100% by 2040[14] - The company is undertaking an Electric Reliability Roadmap with $4 billion in prior 5-year capital investments and a current filing of $7 billion + $3 billion[29], focusing on proactive grid enhancements - CMS Energy has secured 1350 MW of cumulative contracted load since 2015[32] through expansive economic development efforts, including investments from companies like Hemlock Semiconductor ($375 million)[32], Ford Blue Oval Battery Park ($26 billion)[32], and Corning Inc ($900 million)[32]