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Cms Energy Corp (CMS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Cms Energy Corp

CIK: 811156 Ticker: CMS

 

Exhibit 99.1

 

  

CMS Energy Announces First Quarter Earnings Results of
$0.85 Per Share Reported and $0.86 Per Share Adjusted

 

JACKSON, Mich., April 27, 2020 – CMS Energy announced today reported net income of $243 million or $0.85 per share, for the first quarter of 2020, compared to $213 million or $0.75 per share for the same quarter in 2019. The company’s adjusted earnings per share for the first quarter of 2020 were $245 million or $0.86 per share. The primary drivers of CMS Energy’s quarterly financial performance were timely recovery of customer investments and cost management, partially offset by mild winter weather.

 

“Consumers Energy is focused on the safety and health of our co-workers, customers, and the communities we serve during these unprecedented times,” said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. “We are especially mindful of our duty to deliver essential services to those on the front line of the pandemic and we are working hard to deliver safe and reliable energy to Michigan’s homes and hospitals.”

 

As the ultimate impacts of the pandemic on Michigan’s economy and our business remain uncertain, at this time CMS Energy is not changing guidance for 2020 adjusted earnings of $2.64 - $2.68* per share, as announced on January 30th (*See below for important information about non-GAAP measures). CMS Energy will discuss the financial risks and sensitivities related to COVID-19 in more detail during its earnings webcast on April 27.

 

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business. It also owns and operates independent power generation businesses.

 

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The following information was filed by Cms Energy Corp (CMS) on Monday, April 27, 2020 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

Cover Page
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)
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)
Exit Activities
Exit Activities - (Tables)
Exit Activities - Narrative (Details)
Exit Activities - Schedule Of Retention Benefit Liability Roll Forward (Details)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details)
Fair Value Measurements (Narrative) (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)
New Accounting Standards
New Accounting Standards (Details)
New Accounting Standards (Policies)
Notes Receivable
Notes Receivable (Narrative) (Details)
Notes Receivable (Schedule Of Current And Non-Current Notes Receivable) (Details)
Notes Receivable (Tables)
Notes Receivable - Schedule Of Allowance For Loan Losses (Details)
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)
Retirement Benefits Retirement Benefits (Narrative) (Details)
Revenue
Revenue (Components Of Operating Revenue) (Details)
Revenue (Narrative) (Details)
Revenue (Tables)
Ticker: CMS
CIK: 811156
Form Type: 10-Q Quarterly Report
Accession Number: 0000811156-20-000007
Submitted to the SEC: Mon Apr 27 2020 10:24:52 AM EST
Accepted by the SEC: Mon Apr 27 2020
Period: Tuesday, March 31, 2020
Industry: Electric And Other Services Combined

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