Strong Financial Performance
CMS Energy reported adjusted earnings per share of $1.02 for the first quarter, which compares favorably to the same period in 2024. The company remains confident in this year's guidance and long-term outlook, reaffirming financial objectives with full-year guidance at $3.54 to $3.60 per share, expecting to hit the high end.
Constructive Regulatory Environment
The company received a favorable electric rate order in March, with approximately 65% of the revised ask approved. This supports investments to improve electric reliability. The gas rate case also started with a constructive staff position.
Positive Economic Indicators in Michigan
CMS Energy highlighted strong growth indicators, including a 2% to 3% load growth within the five-year financial plan, accelerated data center projects, and a healthy pipeline of nine gigawatts influenced by tax exemptions.
Resilient Supply Chain Strategy
With 90% of direct and indirect spend domestically sourced, CMS Energy continues to shift to US-based vendors to lower exposure to tariffs, providing stability amidst economic uncertainty.
Successful Hybrid Issuance
CMS Energy issued $1 billion in junior subordinated notes at a 6.5% coupon, demonstrating strong market receptivity and addressing a significant portion of 2025's financing needs.