CMS Energy revenue, profits inch upward

JACKSON—CMS Energy, the Jackson-based utility holding company, reported net income of $210 million or 76 cents a share in the third quarter, up from $207 million or 73 cents a share in the same quarter a year earlier. Revenue was $1.58 billion, up from $1.55 billion a year earlier.

For the nine months, net income was $590 million or $2.09 a share, up from $514 million or $1.81 a share a year earlier. Revenue was $4.89 billion, down from $5.05 billion.

Officials of CMS Energy reaffirmed guidance for 2020 adjusted earnings of $2.64 – $2.68 per share. Additionally, CMS introduced 2021 adjusted earnings per share guidance of $2.82 to $2.86, reflecting continued strong growth of 6 to 8 percent.

“The company’s third quarter results confirm our commitment to finish the year strong both operationally and financially and to continue to prioritize those who have been affected by the pandemic,” said Patti Poppe, President and CEO of CMS Energy and Consumers Energy. “As we look to 2021, we will continue to focus on the triple bottom line of people, planet and profit.”

CMS has an electric and natural gas utility, Consumers Energy, as its primary business.

To listen to a replay of a webcast discussing these results, visit cmsenergy.com.

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