CMS Energy (CMS) Misses Q4 EPS by 1c, Revenues Miss; Raises FY20 EPS Outlook

CMS Energy (NYSE: CMS) reported Q4 EPS of $0.68, $0.01 worse than the analyst estimate of $0.69. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.94 billion.

"CMS Energy continues to be an industry leader operationally, environmentally and financially by delivering consistent results for our customers, employees and our investors," said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. "We will not let up in 2020 as we continue to focus on our triple bottom line of people, planet and profit."

CMS Energy noted several accomplishments in 2019:

• Approval with broad support of Consumers Energy\'s Integrated Resource Plan, providing for the closure of all the utility\'s coal plants and a 90% carbon reduction by 2040.
• Committed to net-zero methane emissions by 2030 for our natural gas distribution system.
• Increased Customer Satisfaction: Ranked #1 in J.D. Power Midwest Large Residential Gas Study.
• Obtained regulatory support for $1.2 billion of gas infrastructure investment to improve safety and reliability.
• Worked across the state to attract 75 megawatts of new electric load to Michigan, bringing an estimated 3,600 jobs and over $1.5 billion of investment.
• Maintained first quartile Employee Engagement among US Utilities and exceeded the US High Performing Benchmark in Fortune\'s Most Admired and Best to Work for Companies lists.
• Won the Edison Electric Institute\'s Mid-Cap Index Award for 5-year total shareholder return.

GUIDANCE:

CMS Energy sees FY2020 EPS of $2.64-$2.68, versus the consensus of $2.67.

• CMS Energy raised its guidance for 2020 adjusted earnings to $2.64 - $2.68* per share or 6 to 8 percent annual adjusted earnings per share growth.
• Longer-term, adjusted earnings per share growth remains at 6 to 8 percent with a bias toward the midpoint.

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

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