earnings
confidence high
sentiment positive
materiality 0.75
CMS Energy Q3 adj EPS $0.54; raises 2021 guidance to $2.63-$2.65; sold EnerBank for >$1B
CONSUMERS ENERGY CO
- Q3 reported EPS from continuing ops $0.54 (down from $0.72 YoY); adjusted EPS $0.54 vs $0.73.
- Raised full-year 2021 adjusted EPS guidance to $2.63-$2.65 from $2.61-$2.65.
- Reaffirmed 2022 adjusted EPS guidance of $2.85-$2.87 and long-term 6-8% EPS growth.
- Closed EnerBank sale Oct 1 for gross proceeds >$1B; proceeds redeployed into core utility.
- YTD adjusted EPS $2.18 ahead of plan; strong execution with 2021 net liquidity $1.7B.