Summary
CMS Energy Corporation (CMS) filed an 8-K on October 27, 2022, to report its third quarter 2022 financial results and provide an updated business and financial outlook. The filing primarily directs investors to a furnished News Release (Exhibit 99.1) and a presentation (Exhibit 99.2) which contain detailed information on the company's performance and forward-looking guidance. Investors should note that the company utilizes non-GAAP financial measures, such as adjusted earnings, to present its operating performance, with reconciliations provided in the accompanying materials. These adjusted metrics are considered by management to be key indicators of the company's current financial health and are used for external communications.
Key Highlights
- 1CMS Energy announced its third quarter 2022 results via a press release filed as Exhibit 99.1.
- 2The company provided a business and financial outlook during a webcast on October 27, 2022, with presentation materials furnished as Exhibit 99.2.
- 3The filing emphasizes the use of non-GAAP financial measures, particularly 'adjusted earnings,' for reporting operating performance.
- 4Reconciliations for non-GAAP financial measures to GAAP equivalents are provided, excluding forward-looking earnings guidance.
- 5The information furnished in the 8-K, including exhibits, is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934.
- 6CMS Energy routinely posts important investor information on its website, www.cmsenergy.com, including its Investor Relations section.
Frequently Asked Questions
The main purpose of this 8-K filing is to formally announce CMS Energy's third quarter 2022 financial results and provide forward-looking business and financial outlook. It directs investors to detailed information contained in accompanying press releases and presentations.
Adjusted earnings are non-GAAP financial measures that management uses to assess the company's present operating financial performance. They are considered a key metric for external communications with analysts and investors, offering a view of performance potentially different from GAAP net income due to adjustments for items like discontinued operations, asset sales, impairments, or regulatory items.
Detailed financial results and the business/financial outlook can be found in Exhibit 99.1 (News Release) and Exhibit 99.2 (Presentation) attached to this 8-K filing. These documents are also accessible via CMS Energy's website.
According to General Instruction B.2 of Form 8-K, the information furnished in this Current Report, including its exhibits, is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it automatically incorporated by reference into other SEC filings. However, investors should note that CMS Energy considers its website an important channel for distributing investor information.