CMS Energy Announces Third Quarter Earnings Of $0.61 Per Share, Or $0.62 Per Share On An Adjusted Basis; Raises 2017 Adjusted Earnings Guidance, And Introduces 2018 Adjusted Earnings Guidance

JACKSON, Mich., Oct. 26, 2017 /PRNewswire/ -- CMS Energy announced today reported net income of $172 million, or $0.61 per share, for the third quarter of 2017 and $463 million, or $1.65 per share, for the first nine months of the year. On an adjusted basis, which excludes $0.01 for legacy legal costs, the company had net income of $173 million, or $0.62 per share, for the third quarter, and $465 million, or $1.66 per share, for the first nine months of the year. On a weather-normalized basis, adjusted earnings per share improved by $0.13 or 8 percent for the first nine months, versus the same period last year.

CMS Energy raised the low end of its guidance for 2017 adjusted earnings to $2.15 to $2.18 per share (*See below for important information about non-GAAP measures) or 6 to 8 percent annual adjusted earnings per share growth. Additionally, CMS Energy introduced 2018 adjusted earnings per share guidance of $2.29 to $2.33, reflecting growth of 6 to 8 percent.

"My co-workers and I work every day to ensure our customers have the reliable and affordable electricity and natural gas they need to power their homes and businesses," said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. "We work hard for the good of Michigan because we live here too – and we want to see our state succeed. During the third quarter, we have continued on a path of world class performance delivering hometown service, while remaining on track to meet our financial objectives."

CMS Energy noted several accomplishments in the third quarter:

• Achieved record customer electric reliability this quarter despite multiple storms
• Pledged $1 million to help with the creation of the Flint Promise, a scholarship program for Flint children through the Consumers Energy Foundation
• Deployed over 350 Consumers Energy employees and contractors to Florida and Georgia to help restore power after Hurricane Irma
• Launched a new pilot program to allow large business customers to be powered 100 percent by renewable energy

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses.

CMS Energy will hold a webcast to discuss its 2017 third quarter results and provide a business and financial outlook on October 26 at 8:30 AM (EDT). To participate in the Webcast, go to CMS Energy's home page (www.cmsenergy.com) and select "Investor Meeting."

Important information for investors about non-GAAP measures and other disclosures.

*This news release contains non-Generally Accepted Accounting Principles (non-GAAP) measures, such as adjusted earnings. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, regulatory items from prior years, or other items detailed in the attached summary financial statements. Management views adjusted earnings as a key measure of the company's present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company's reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings. The adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for the reported earnings. Adjusted weather-normalized earnings are provided to show the impact of deviations from normal weather.

This news release contains "forward-looking statements." The forward-looking statements are subject to risks and uncertainties that could cause CMS Energy's and Consumers Energy's results to differ materially. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in CMS Energy's and Consumers Energy's Securities and Exchange Commission filings. 

Investors and others should note that CMS Energy routinely posts important information on its website and considers the Investor Relations section, www.cmsenergy.com/investor-relations, a channel of distribution.

For more information on CMS Energy, please visit our website at www.cmsenergy.com. To sign up for email alert notifications, please visit the Investor Relations section of our website.

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SOURCE CMS Energy