CMS Energy's 2024 Financial Performance Exceeds Expectations
CMS Energy Reports Strong 2024 Financial Results
CMS Energy has demonstrated exceptional performance in 2024, announcing reported earnings per share of $3.33, a significant increase from $3.01 per share in 2023. The adjusted earnings per share for the same period rose to $3.34, compared to $3.11 per share in the previous year.
Dividend Growth and Earnings Guidance Increase
The company's board of directors approved an annual dividend increase of 11 cents, bringing the total dividend to $2.17 per share for 2025. This marks the 19th consecutive year of dividend growth for CMS Energy. Moreover, the company raised its adjusted earnings guidance for 2025 to a range of $3.54 to $3.60 per share.
Investment Highlights and Community Support
In addition to notable financial results, 2024 saw record investments in the company’s electric grid through its Reliability Roadmap. CMS Energy successfully restored power to over 93% of customers in less than 24 hours, significantly improving from 87% in 2023. Furthermore, the company added over 360 megawatts of new load due to its economic development initiatives, contributing to local job creation and investments.
Leadership Confidence and Future Outlook
Garrick Rochow, President, and CEO of CMS Energy, expressed confidence in the company’s performance and future growth, stating that the hard work and improvements made by the CMS Energy team have positioned their customers, communities, and investors favorably for the coming year.
Financial Reporting and Webcast Details
CMS Energy will hold a webcast to discuss its year-end financial results and share an outlook on business performance. Details for participation will be available on CMS Energy's homepage, ensuring that stakeholders stay informed about the company's progress.
Understanding Non-GAAP Measures
This report includes non-GAAP financial measures. Adjusted earnings, as viewed by management, play a crucial role in assessing financial performance. Adjustments can result from various factors including asset sales, restructuring efforts, and tax policy changes, among others. These metrics are intended to provide a clearer perspective on operational success.
Frequently Asked Questions
What were CMS Energy's earnings per share for 2024?
The reported earnings per share for 2024 were $3.33, up from $3.01 in 2023.
How much is the dividend per share for 2025?
The annual dividend per share for 2025 is set at $2.17, reflecting an increase of 11 cents.
What is the adjusted earnings guidance for 2025?
The adjusted earnings guidance for 2025 has been raised to a range of $3.54 to $3.60.
What investments did CMS Energy make in 2024?
CMS Energy made strategic investments in their electric grid under the Reliability Roadmap, which improved service restoration times significantly.
Where can I find more information on CMS Energy's financials?
For additional financial details and updates, the company will host a webcast and provide resources on their official website.
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