8-KEarnings & ResultsRegulation FDExhibits & Filings

CMS ENERGY CORP 8-K Report, Financial Results (Feb 4, 2021)

Filed February 4, 2021For Securities:CMSCMS-PCCMSACMSCCMSD

Summary

CMS Energy Corporation (CMS) filed an 8-K on February 4, 2021, primarily to announce its 2020 financial results. The report directs investors to an attached news release (Exhibit 99.1) and a presentation (Exhibit 99.2) for detailed financial information and future outlook. A key aspect highlighted is the company's use of "adjusted earnings" as a critical performance metric, which management uses for both internal assessments and external communications. Investors should note that adjusted earnings are presented as supplemental information to GAAP-reported earnings and may exclude items such as discontinued operations, asset sales, impairments, restructuring costs, and prior-year regulatory items. The company also scheduled a webcast for the same day to discuss these 2020 results and provide a business and financial outlook for the future. This webcast, along with the presentation materials, is available on CMS Energy's investor relations website, emphasizing the company's practice of routinely posting important information through this channel. The filing itself does not contain extensive financial details but serves as notification of the release of this information.

Key Highlights

  • 1CMS Energy announced its 2020 financial results via a news release (Exhibit 99.1) filed on February 4, 2021.
  • 2The company utilizes "adjusted earnings" as a key performance indicator for both internal assessment and external investor communications.
  • 3Adjusted earnings are considered non-GAAP financial measures and are presented as supplemental to, not a substitute for, GAAP-reported earnings.
  • 4Potential adjustments to reported earnings to arrive at adjusted earnings can include discontinued operations, asset sales, impairments, restructuring costs, and prior regulatory items.
  • 5CMS Energy held a webcast on February 4, 2021, to discuss 2020 results and provide a business/financial outlook.
  • 6Presentation materials for the webcast are available as Exhibit 99.2 to the 8-K filing.
  • 7The company directs investors to its website (www.cmsenergy.com) and investor relations section for important and routinely updated information.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce CMS Energy's 2020 financial results and to provide access to the detailed news release and presentation materials where these results are discussed.

Adjusted earnings are a non-GAAP financial measure that CMS Energy uses to represent its core operating performance. Management considers it a key metric for assessing performance internally and for communicating with analysts and investors, as it often excludes certain one-time or non-recurring items that may affect reported GAAP earnings.

Detailed 2020 financial results and the company's business and financial outlook are provided in the news release (Exhibit 99.1) and the presentation (Exhibit 99.2) attached to this 8-K filing. These materials, along with a webcast recording, are also typically available on CMS Energy's investor relations website.

The news release contains certain financial measures considered non-GAAP. While a reconciliation to the most directly comparable GAAP financial measures is provided for these figures within the release, investors should treat them as supplemental information rather than a direct substitute for GAAP-reported earnings.