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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 Energys 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 MPSCs 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 companys 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 companys electric vehicle charging program.
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Cms Energy Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
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Cms Energy Corp provided additional information to their SEC Filing as exhibits
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