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

Cms Energy Corp

CIK: 811156 Ticker: CMS

Exhibit 99.1

 

 

 

CMS Energy Announces Third Quarter Reported Earnings of $0.76 Per Share and Introduces 2021 EPS Guidance

 

JACKSON, Mich., October 29, 2020 – CMS Energy announced today reported net income of $218 million, or $0.76 per share, for the third quarter of 2020, compared to reported net income of $207 million, or $0.73 per share, for the same quarter in 2019. The company’s adjusted net income for the third quarter of 2020 was $221 million, or $0.77 per share. For the first nine months of 2020, the company reported net income of $597 million, or $2.09 per share, compared to reported net income of $513 million, or $1.81 per share for the same period in 2019. Adjusted net income for the first nine months of 2020 was $605 million, or $2.11 per share.

 

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). Additionally, CMS Energy introduced 2021 adjusted earnings per share guidance of $2.82 to $2.86, reflecting continued strong growth of 6 to 8 percent.

 

“The company’s third quarter results confirm our commitment to finish the year strong both operationally and financially and to continue to prioritize those who have been affected by the pandemic,” said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. “As we look to 2021, we will continue to focus on the triple bottom line of people, planet and profit.”

 

CMS Energy noted several accomplishments during the quarter:

 

·Consumers Energy settled its gas rate case and will not file another gas case prior to December 2021.

 


The following information was filed by Cms Energy Corp (CMS) on Thursday, October 29, 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)
Asset Sale And Exit Activities
Asset Sale And Exit Activities - (Tables)
Asset Sale And Exit Activities - Narrative (Details)
Asset Sale And Exit Activities - Schedule Of Retention Benefit Liability Roll Forward (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 (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)
Purchase Of Variable Interest Entity
Purchase Of Variable Interest Entity (Tables)
Purchase Of Variable Interest Entity - Consolidated Information Of Variable Interest Entity (Details)
Purchase Of Variable Interest Entity - Narrative (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: 0000811156-20-000017
Submitted to the SEC: Thu Oct 29 2020 10:54:53 AM EST
Accepted by the SEC: Thu Oct 29 2020
Period: Wednesday, September 30, 2020
Industry: Electric And Other Services Combined

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