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Cms Energy Corp (CMS) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Cms Energy Corp

CIK: 811156 Ticker: CMS

Exhibit 99.1

 

 

CMS ENERGY ANNOUNCES FIRST QUARTER EARNINGS OF $0.75 PER SHARE; REAFFIRMS 2019 GUIDANCE

 

JACKSON, Mich., April 25, 2019

— CMS Energy announced today reported net income of $213 million or $0.75 per share, for the first quarter of 2019, compared to $241 million or $0.86 per share for the same quarter in 2018.

 

CMS Energy reaffirmed its guidance for 2019 adjusted earnings of $2.47 - $2.51 per share (*See below for important information about non-GAAP measures) or 6 to 8 percent annual adjusted earnings per share growth.

 

“CMS Energy’s commitment to the triple bottom line of people, planet and profit is reflected in our results for the first quarter of 2019,” said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. “Our company withstood a polar vortex and severe winter storms during the quarter while still delivering solid operating and financial performance for our customers and investors.”

 

CMS Energy noted several accomplishments in the first quarter:

 

·                  IRP SETTLEMENT: The Company announced the filing of a settlement of its Integrated Resource Plan (IRP) with the Michigan Public Service Commission (MPSC), which will reduce carbon emissions by 90 percent, eliminate the use of coal to generate electricity and quadruple renewable energy use with the addition of 6,000 megawatts of solar. The settlement, supported by a broad coalition of key stakeholders, will position Consumers Energy as a national clean energy leader. The settlement is subject to the MPSC’s approval.

 

·                  SERVICE RESTORATION: We restored power to over 400,000 customers after significant storm activity during the quarter.

 

·                  ELECTRIC RATE CASE SETTLEMENT: The MPSC approved the company’s electric rate case settlement which allows for continued investment in safety and reliability on our grid. Also included in the settlement was the approval of the company’s electric vehicle charging program.

 


The following information was filed by Cms Energy Corp (CMS) on Thursday, April 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Parenthetical)
Consolidated Balance Sheets (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Comprehensive Income (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Income (Unaudited)
Asset Sales
Asset Sales - Schedule Of Assets Held For Sale (Details)
Asset Sales (Tables)
Asset Sales - Narrative (Details)
Cash And Cash Equivalents
Cash And Cash Equivalents (Schedule Of Cash And Cash Equivalents, Including Restricted Amounts) (Details)
Cash And Cash Equivalents (Tables)
Contingencies And Commitments
Contingencies And Commitments (Contingencies And Commitments) (Details)
Contingencies And Commitments (Expected Remediation Cost By Year) (Details)
Contingencies And Commitments (Guarantees) (Details)
Contingencies And Commitments (Tables)
Earnings Per Share - Cms Energy
Earnings Per Share - Cms Energy (Basic And Diluted Eps Computations) (Details)
Earnings Per Share - Cms Energy (Tables)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Tables)
Financial Instruments
Financial Instruments (Narrative) (Details)
Financial Instruments (Schedule Of Carrying Amounts And Fair Values Of Financial Instruments) (Details)
Financial Instruments (Schedule Of Investment Securities) (Details)
Financial Instruments (Tables)
Financings And Capitalization
Financings And Capitalization (Forward Stock Contracts) (Details)
Financings And Capitalization (Major Long-Term Debt Transactions) (Details)
Financings And Capitalization (Narrative) (Details)
Financings And Capitalization (Revolving Credit Facilities) (Details)
Financings And Capitalization (Tables)
Income Taxes
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details)
Income Taxes (Tables)
Leases
Leases - Lessee Leases Narrative (Details)
Leases (Tables)
Leases - Assets And Liabilities Of Lessee (Details)
Leases - Lessor Leases Narrative (Details)
Leases - Minimum Annual Rental Commitments Post Topic 842 (Details)
Leases - Minimum Annual Rental Commitments Pre Topic 842 (Details)
Leases - Schedule Of Future Payments To Be Received (Details)
Leases - Schedule Of Lease Costs (Details)
Leases - Schedule Of Lessee Cash Flows (Details)
New Accounting Standards
New Accounting Standards (Policies)
Notes Receivable
Notes Receivable (Narrative) (Details)
Notes Receivable (Schedule Of Current And Non-Current Notes Receivable) (Details)
Notes Receivable (Tables)
Regulatory Matters
Regulatory Matters (Narrative) (Details)
Reportable Segments
Reportable Segments (Details)
Reportable Segments (Tables)
Retirement Benefits
Retirement Benefits (Schedule Of Net Benefit Costs) (Details)
Retirement Benefits (Tables)
Revenue
Revenue (Components Of Operating Revenue) (Details)
Revenue (Narrative) (Details)
Revenue (Tables)
Ticker: CMS
CIK: 811156
Form Type: 10-Q Quarterly Report
Accession Number: 0000811156-19-000007
Submitted to the SEC: Thu Apr 25 2019 9:33:57 AM EST
Accepted by the SEC: Thu Apr 25 2019
Period: Sunday, March 31, 2019
Industry: Electric And Other Services Combined

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