JACKSON, Michigan - CMS Energy (NYSE:CMS) reported fourth quarter earnings that met analyst expectations, while revenue fell short of estimates.
The company also raised its earnings guidance for fiscal year 2025.
The Michigan-based energy provider announced fourth quarter adjusted earnings per share of $0.87, in line with analyst estimates. Revenue for the quarter came in at $1.99 billion, below the consensus estimate of $2.11 billion.
For the full year 2024, CMS Energy reported adjusted earnings per share of $3.34, up from $3.11 in 2023. The company raised its 2025 adjusted earnings guidance to a range of $3.54 to $3.60 per share, compared to the previous guidance of $3.52 to $3.58.
The midpoint of the new guidance range is slightly above the analyst consensus of $3.59 per share.
CMS Energy CEO Garrick Rochow highlighted the company’s operational improvements, stating, "We restored power to over 93% of customers in less than 24 hours – compared to 87% in 2023. We also landed over 360 megawatts of new load through our economic development efforts, bringing jobs, and investments to Michigan."
The company also announced an 11 cent increase to its annual dividend, raising it to $2.17 per share for 2025. This marks the 19th consecutive year of dividend increases for CMS Energy.
CMS Energy reaffirmed its long-term adjusted EPS growth target of 6% to 8%, expressing continued confidence towards the high end of this range.
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