CMS Energy has announced its second quarter results for 2024, with reported earnings per share (EPS) of $0.65, down from $0.67 in 2023. Adjusted EPS for the same period was $0.66, compared to $0.75 in 2023. For the first six months of 2024, the reported EPS was $1.61, an increase from $1.36 in 2023, while the adjusted EPS was $1.63, up from $1.45 in 2023. CMS Energy has also reaffirmed its 2024 adjusted EPS guidance of $3.29 to $3.35 per share, with a long-term adjusted EPS growth of 6 to 8 percent.
Garrick Rochow, President and CEO of CMS Energy and Consumers Energy, noted, "We are on track to deliver our full-year earnings guidance after a strong first half of the year prioritizing investments in our electric and gas systems to deliver value for customers. Our electric reliability roadmap, natural gas delivery plan and clean energy plan will allow us to harden and improve our systems while leading the clean energy transformation."
CMS Energy, a Michigan-based energy provider, will hold a webcast to discuss its 2024 second quarter results and provide a business and financial outlook.
The company's adjusted EPS metrics have fluctuated compared to the previous year, with reported EPS showing a decrease in the second quarter of 2024 but an increase for the first six months of the year. On an adjusted basis, EPS has increased for the first six months of 2024 compared to the same period in 2023, primarily due to constructive regulatory outcomes and higher weather normalized sales. The market has reacted to these announcements by moving the company's shares 1.7% to a price of $62.47. Check out the company's full 8-K submission here.
