CMS Energy Q1 adjusted EPS $0.70, down 42% YoY; reaffirms FY23 guidance $3.06-$3.12

CONSUMERS ENERGY CO

Q1 reported EPS $0.69, adjusted EPS $0.70, vs $1.21 and $1.20 in Q1 2022.
Earnings decline driven by unfavorable weather (warm winter, ice storms) reducing sales and raising costs.
Reaffirmed 2023 adjusted EPS guidance $3.06-$3.12 and long-term adjusted EPS growth 6-8%.
Dividend maintained at $1.95/share; 5-year capital plan $15.5B.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CONSUMERS ENERGY CO reported first quarter of 2023 results: EPS $0.69 per share. Guidance reaffirmed.

Period: first quarter of 2023
EPS: $0.69 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

CMS Energy announced today reported earnings per share of $0.69 for the first quarter of 2023, compared to $1.21 per share for the same quarter in 2022. The company’s adjusted earnings per share for the first quarter of 2023 were $0.70, compared to $1.20 per share for the same quarter in 2022, primarily due to unfavorable weather, which reduced sales volumes, and higher service restoration costs attributable to significant storm activity during the quarter. CMS Energy reaffirmed its 2023 adjusted earnings guidance of $3.06 to $3.12* per share (*See below for important information about non-GAAP measures) and reaffirmed long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end of the adjusted EPS growth range.

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Source: SEC EDGAR

accession 0001104659-23-050652

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