8-KEarnings & ResultsRegulation FDExhibits & Filings

CMS ENERGY CORP 8-K Report, Financial Results (Apr 27, 2023)

Filed April 27, 2023For Securities:CMSCMS-PCCMSACMSCCMSD

Summary

CMS Energy Corporation (CMS) filed an 8-K on April 27, 2023, to report its first quarter 2023 results. The report primarily incorporates by reference a news release (Exhibit 99.1) detailing these results and a presentation (Exhibit 99.2) shared during an investor webcast. Investors should note that the company utilizes non-GAAP financial measures, specifically "adjusted earnings," to present its operating performance and for external communications. While these adjusted figures provide a view of ongoing operations, they exclude various items like discontinued operations, asset sales, impairments, and regulatory adjustments, among others. The company emphasizes that these non-GAAP measures are supplemental and should not be considered a substitute for GAAP-reported earnings.

Key Highlights

  • 1CMS Energy announced its first quarter 2023 financial results via a news release filed as Exhibit 99.1.
  • 2The company's financial reporting for this quarter includes non-GAAP financial measures, primarily 'adjusted earnings'.
  • 3Adjusted earnings are presented as a key indicator of operating performance and are used for investor communications.
  • 4These non-GAAP measures exclude a range of potential items, including but not limited to, discontinued operations, asset sales, impairments, restructuring costs, and regulatory items.
  • 5CMS Energy provided a business and financial outlook during a webcast on April 27, 2023, with a presentation filed as Exhibit 99.2.
  • 6The company directs investors to its website, including the Investor Relations section, for routine updates and important information.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce and provide details on CMS Energy's first quarter 2023 financial results, which are primarily disclosed in an attached news release (Exhibit 99.1).

CMS Energy reports its results using both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial measures. The filing highlights the use of 'adjusted earnings' as a key non-GAAP measure to present operating performance.

Adjusted earnings are a non-GAAP measure that CMS Energy uses to provide a clearer view of its ongoing operational financial performance. Management considers it a key measure for assessing performance and for external communications with analysts and investors, as it excludes various items that may not be indicative of regular business operations.

Investors can find more detailed information, including the news release and presentation from the earnings webcast, attached as exhibits to this 8-K. CMS Energy also routinely posts important information on its website, particularly in the Investor Relations section (www.cmsenergy.com/investor-relations).