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Cms Energy Corp (CMS) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Cms Energy Corp

CIK: 811156 Ticker: CMS

Exhibit 99.1

 

 

CMS Energy Announces Second Quarter Earnings Results of $0.48 Per Share and Reaffirms 2020 Earnings Guidance

 

JACKSON, Mich., August 3, 2020 – CMS Energy announced today reported net income of $136 million or $0.48 per share, for the second quarter of 2020, compared to $93 million or $0.33 per share for the same quarter in 2019. The company’s adjusted earnings per share for the second quarter of 2020 were $139 million or $0.49 per share, compared to $93 million or $0.33 per share for the same quarter in 2019. The primary drivers of CMS Energy’s quarterly financial performance were cost management coupled with favorable weather and sales mix.

 

“Despite the numerous challenges associated with the pandemic, we’ve remained committed to delivering on our Triple Bottom of Line of People, Planet and Profit. We’ve done this by ensuring the safety and health of our co-workers, customers, and the communities we serve while providing the vital services of electricity and natural gas and delivering on cost reduction initiatives,” said Patti Poppe, President and CEO of CMS Energy and Consumers Energy.

 

CMS Energy reaffirmed its guidance for 2020 adjusted earnings of $2.64 - $2.68* per share (*See below for important information about non-GAAP measures).

 

CMS Energy noted several accomplishments in the first half of 2020:

 

·Appointed a vice president and Chief Diversity Officer, Angela Thompkins, who will lead the company’s diversity, equity, and inclusion (DEI) strategy, and partner with leaders across the organization to improve results related to DEI.

 


The following information was filed by Cms Energy Corp (CMS) on Monday, August 3, 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)
Financings And Capitalization Financings And Capitalization (Debt Retirements) (Details)
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: 0000811156-20-000012
Submitted to the SEC: Mon Aug 03 2020 10:58:52 AM EST
Accepted by the SEC: Mon Aug 03 2020
Period: Tuesday, June 30, 2020
Industry: Electric And Other Services Combined

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