CMS Energy Raises Adjusted Earnings Guidance

(RTTNews) – CMS Energy (CMS) raised 2022 adjusted earnings guidance to $2.87 to $2.89 per share, from prior guidance range of $2.85 to $2.89 per share. CMS Energy introduced preliminary 2023 adjusted earnings guidance of $3.05 to $3.11 per share. The company also reaffirmed long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

Excluding items, CMS Energy Corp. reported adjusted earnings of $163 million or $0.56 per share for the third quarter. Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Bottom line came in at $163 million, or $0.56 per share compared with $186 million, or $0.64 per share, prior year.

Revenue rose 16.8% to $2.02 billion from $1.73 billion last year.

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