CMS Energy (CMS) Tops Q4 EPS by 1c; Boosts FY15 Outlook

CMS Energy (NYSE: CMS) reported Q4 EPS of $0.37, $0.01 better than the analyst estimate of $0.36. Revenue for the quarter came in at $1.76 billion versus the consensus estimate of $1.54 billion.

CMS Energy raises FY2015 EPS of $1.86-$1.89, versus the consensus of $1.88.

"CMS Energy continues to deliver on its promise to investors, customers and the State of Michigan. 2014 marks our 12th consecutive year of consistent financial performance, delivering top-end industry earnings growth, with more progress planned for 2015 and beyond," said John Russell, CMS Energy's president and chief executive officer.

"Our customer focus is paying off, with major improvements in customer satisfaction scores, residential electric bills that are 10 percent below the national average, and strong electric and natural gas reliability, including during last winter's historic Polar Vortex."

"We're anticipating action on energy policy in Michigan consistent with statements from state policy makers. The Lower Peninsula is facing an electric generation shortfall as early as 2016, which is why we need a Michigan-first energy plan. While supporting the efforts of policy makers, we also are ensuring power reliability for our customers by taking steps such as purchasing the Jackson Gas Plant for our electric generating fleet."Russell said that CMS Energy's principal subsidiary, Consumers Energy, Michigan's largest utility with three million electric and natural gas customers, plans to invest more than $15.5 billion in its operations over the next 10 years to enhance customer value.

"We are making strategic investments in Michigan to provide customers with safe, affordable, reliable and increasingly clean energy," said Russell. "As a result of our investments electric reliability is improving, and we're proud that we achieved Michigan's standard for renewable energy production one year ahead of the statutory requirement."

For earnings history and earnings-related data on CMS Energy (CMS) click here.

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