8-KEarnings & ResultsRegulation FDExhibits & Filings

CMS ENERGY CORP 8-K Report, Financial Results (Jul 26, 2018)

Filed July 26, 2018For Securities:CMSCMS-PCCMSACMSCCMSD

Summary

CMS Energy Corporation (CMS) filed an 8-K on July 26, 2018, to report its second quarter 2018 financial results. The filing primarily consists of a news release (Exhibit 99.1) detailing these results and providing forward-looking earnings guidance. Investors should note that the company utilizes "adjusted earnings" as a key performance metric for both internal assessment and external communication, which differs from GAAP-based earnings. While reconciliations for current non-GAAP measures are provided, full GAAP reconciliations for future guidance are not, as CMS Energy cannot predict the impact of specific future adjustments. This adjusted earnings metric is presented as supplemental information to aid in understanding the company's operating performance. The company also reiterated its practice of posting important information on its Investor Relations website, www.cmsenergy.com/investor-relations, encouraging stakeholders to monitor this channel for updates. The filing itself, including the news release, is furnished and not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor incorporated by reference into other filings.

Key Highlights

  • 1CMS Energy reported its second quarter 2018 financial and operational results via an 8-K filing on July 26, 2018.
  • 2The primary content of the filing is a news release (Exhibit 99.1) containing the company's quarterly earnings announcement.
  • 3CMS Energy emphasizes the use of "adjusted earnings" as a key performance indicator, both internally and for investor communications.
  • 4The company provides forward-looking earnings guidance on an adjusted basis, acknowledging that full GAAP reconciliations for future periods are not provided due to unpredictable adjustments.
  • 5Adjusted earnings are presented as supplemental information to GAAP results, intended to provide a clearer view of current operating performance.
  • 6CMS Energy directs investors to its Investor Relations website (www.cmsenergy.com/investor-relations) for routine posting of important company information.
  • 7The information furnished in this 8-K is not considered "filed" for certain SEC liability purposes.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce CMS Energy's second quarter 2018 results of operations and financial condition, primarily through an attached news release.

Adjusted earnings are a non-GAAP financial measure that CMS Energy uses to present its operating financial performance. Management views it as a key metric for both internal performance assessment and external communications with analysts and investors, providing a view of ongoing operational results potentially excluding items like discontinued operations, asset sales, or regulatory items.

No, CMS Energy states that it does not provide GAAP reconciliations for its forward-looking earnings guidance because it cannot predict the impact of specific future adjustments, such as regulatory items or restructuring costs, which could significantly affect reported earnings.

CMS Energy routinely posts important information on its website, specifically in the Investor Relations section at www.cmsenergy.com/investor-relations, and considers this a channel for distribution.