8-KEarnings & ResultsRegulation FDExhibits & Filings

CMS ENERGY CORP 8-K Report, Financial Results (Oct 24, 2019)

Filed October 24, 2019For Securities:CMSCMS-PCCMSACMSCCMSD

Summary

CMS Energy Corporation (CMS) filed an 8-K on October 24, 2019, to announce its third-quarter 2019 financial results. The filing primarily incorporates by reference a news release (Exhibit 99.1) and a presentation (Exhibit 99.2) that detail these results and provide an outlook. Investors should note that the company utilizes non-GAAP financial measures, specifically adjusted earnings, which management views as a key indicator of operating performance and uses for external communications. While these adjusted figures are presented with reconciliations for historical periods, forward-looking earnings guidance is provided on an adjusted basis without a reconciliation due to the inability to predict the impact of potential future adjustments. The report also highlights the company's plan to host a webcast on the same day to discuss its quarterly performance and business outlook. CMS Energy emphasizes that it routinely posts important information on its website, particularly in the Investor Relations section, and encourages investors to monitor this channel for ongoing updates. The company and its subsidiary Consumers Energy Company have also confirmed their elected status regarding the extended transition period for new or revised financial accounting standards.

Key Highlights

  • 1CMS Energy announced its third-quarter 2019 results via a news release (Exhibit 99.1) and presentation (Exhibit 99.2).
  • 2The company utilizes and reports 'adjusted earnings' as a key performance metric, which is a non-GAAP financial measure.
  • 3Reconciliations for historical non-GAAP measures to GAAP are provided in the accompanying news release.
  • 4Forward-looking earnings guidance is provided on an adjusted basis, but without a reconciliation due to unpredictable future adjustments.
  • 5A webcast was scheduled for October 24, 2019, to discuss Q3 results and provide a business/financial outlook.
  • 6CMS Energy directs investors to its website (www.cmsenergy.com) for routine updates and important information.
  • 7The filing confirms the company's approach to adopting new financial accounting standards.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce CMS Energy's third-quarter 2019 financial results and provide investors with access to the related news release and presentation materials.

Adjusted earnings are non-GAAP financial measures that CMS Energy uses to present its operating financial performance. Management views this metric as key for assessing performance and uses it for external communications with analysts and investors, believing it offers a clearer view of the company's ongoing operational results.

Investors should note that adjusted earnings are considered supplemental information. While CMS Energy provides reconciliations for historical adjusted earnings to GAAP measures, it is recommended to consider both GAAP and non-GAAP figures for a comprehensive understanding of the company's financial condition.

CMS Energy directs investors to its website, specifically the Investor Relations section (www.cmsenergy.com/investor-relations), as a channel for routinely posting important information and updates.