CMS Energy Q3 Profit Rises Year-on-Year

Michigan-based CMS Energy Corp. has posted $173 million in net income for the third quarter of 2023, $10 million more than the net profit it recorded for the corresponding quarter a year prior.

Earnings per share (EPS) for the third quarter stood at $0.60, compared to $0.56 per share for the same quarter in 2022, it said in a media release. For the first nine months of the year, the company reported $1.96 in EPS, compared to $2.27 for the January–September 2022 period.

CMS Energy reaffirmed its 2023 adjusted earnings guidance of $3.06 to $3.12 per share and the long-term adjusted EPS growth of six to eight percent, with continued confidence toward the high end.

"CMS Energy is well positioned heading into the fourth quarter as we continue to execute on cost savings to offset weather-related headwinds. During the quarter, we were also pleased to introduce our electric Reliability Roadmap which will improve the reliability of our system and support a modernized grid for our customers," said Garrick Rochow, President and CEO of CMS Energy and Consumers Energy.

The company’s board of directors earlier declared a quarterly dividend per common stock of 48.75 cents, payable to shareholders of record on November 3, 2023.

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