CMS Energy said net income available to common stockholders in 2024 was $993 million, and diluted EPS were $3.33. In 2023, net income available to common stockholders was $877 million and diluted EPS were $3.01. The company said electric and gas rate increases were offset partially by higher interest charges, increased depreciation and amortization, and higher property taxes.

1. 01

   CMS Energy said net income available to common stockholders in 2024 was $993 million, and diluted EPS were $3.33. In 2023, net income available to common stockholders was $877 million and diluted EPS were $3.01. The company said electric and gas rate increases were offset partially by higher interest charges, increased depreciation and amortization, and higher property taxes.

2. 02

   CMS Energy said Consumers' planned capital expenditures through 2029 over the next 5 years total $20.0 billion, of which $14.8 billion is planned for electric distribution and gas infrastructure and $5.2 billion for clean generation. The company said the investment program is subject to approval through MPSC proceedings.

3. 03

   CMS Energy said the MPSC approved an annual electric rate increase of $92 million in March 2024 in the 2023 electric rate case, and in July 2023 approved a settlement agreement authorizing an annual gas rate increase of $35 million in the gas rate case. The company said it filed an application in December 2024 seeking an annual gas rate increase of $248 million.

4. 04

   CMS Energy said consolidated cash and cash equivalents as of December 31, 2024 were $178 million, which included restricted cash and cash equivalents of $75 million, and available revolving credit facility capacity was $519 million for CMS Energy and $1.3 billion for Consumers.

Key figures

Fiscal year ended December 31, 2024

Revenue

$7.3B

Operating income

$1.5B

Net income

$1.0B

EPS

$3.33

Operating cash flow

$2.4B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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