CMS Energy Corporation reports recurring developments across its Michigan energy business, with Consumers Energy as its principal utility subsidiary. Company news commonly covers earnings results and financial outlooks, common and preferred stock dividends, and updates tied to electric and natural gas service in Michigan.
Consumers Energy updates also include grid reliability, storm response technology, customer energy-efficiency and assistance programs, and regulatory discussions involving utility assets. CMS Energy also reports on its independent power generation businesses and capital-return actions involving listed common stock, preferred securities and depositary shares.
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CMS Energy reported earnings per share (EPS) of $0.69 for Q1 2023, down from $1.21 in Q1 2022. Adjusted EPS also declined to $0.70 from $1.20 year-over-year, largely due to adverse weather conditions affecting sales volumes and increased service restoration costs from significant storms. Despite these challenges, the company reaffirmed its 2023 adjusted EPS guidance of $3.06 to $3.12 and long-term growth expectations of 6 to 8 percent in adjusted EPS. CEO Garrick Rochow expressed confidence in meeting full-year earnings guidance, citing ongoing investments in infrastructure to enhance customer reliability. A webcast discussing detailed financial results and outlook is scheduled for April 27, 2023.
The Board of Directors of CMS Energy has announced a quarterly dividend of 48.75 cents per share on its common stock. This dividend is set to be paid on May 31, 2023, to shareholders on record as of May 5, 2023. The company operates primarily through its subsidiary, Consumers Energy, and is based in Michigan. CMS Energy is also engaged in independent power generation.