Summary
CMS Energy Corporation (CMS) filed an 8-K on October 28, 2021, to report its third quarter 2021 financial results and provide an updated business and financial outlook. The report incorporates by reference a news release (Exhibit 99.1) and a presentation (Exhibit 99.2) detailing these results and future guidance. Investors should note that the company uses "adjusted earnings" as a key performance metric, which is a non-GAAP measure. While GAAP measures are also presented, adjusted earnings are highlighted as a focus for external communications, used to assess current operating performance.
Key Highlights
- 1CMS Energy announced its third quarter 2021 results via a news release furnished as part of the 8-K filing.
- 2The company provided a business and financial outlook, details of which were presented in a webcast and accompanying presentation.
- 3CMS Energy uses "adjusted earnings" as a key performance metric to measure and assess financial performance, both internally and for external communications.
- 4The news release includes non-GAAP financial measures, with reconciliations provided for historical data but not for future earnings guidance due to potential variability of certain items.
- 5The report incorporates by reference the earnings release (Exhibit 99.1) and the investor presentation (Exhibit 99.2).
- 6CMS Energy highlights that it routinely posts important information on its website, specifically the Investor Relations section, as a channel of distribution.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report CMS Energy Corporation's third quarter 2021 financial results and to provide updates on its business and financial outlook. It incorporates by reference the official news release and investor presentation detailing these announcements.
While the filing mentions that CMS Energy will provide a business and financial outlook, the accompanying news release does not contain forward-looking earnings guidance with a reconciliation. The company states this is due to the inability to estimate the impact of specific future line items that could significantly affect reported earnings.
Adjusted earnings are a non-GAAP financial measure that CMS Energy views as a key indicator of its current operating financial performance. The company uses this metric for external communications with analysts and investors, as well as for internal performance assessment, considering it supplemental to GAAP reported earnings.
The detailed third quarter results and financial outlook are primarily found in Exhibit 99.1 (News Release) and Exhibit 99.2 (Presentation), which are furnished as part of this 8-K filing. These documents were also discussed during a webcast on October 28, 2021, and can typically be found on the CMS Energy investor relations website.