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CMS CMS Energy

CMS Energy Corp. is a holding company, which engages in business through its subsidiaries. It operates through the following business segments: Electric Utility, Gas Utility, and Enterprises. The Electric Utility segment engages in the generation, purchase, transmission, distribution and sale of electricity. The Gas Utility segment is comprised of the purchase, transmission, storage, distribution and sale of natural gas The Enterprises segment engages primarily in domestic independent power production, marketing of independent power production and the development and operation of renewable generation. The company was founded in 1987 and is headquartered in Jackson, MI.

Company profile

CMS stock data

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Calendar

11 Feb 21
13 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from CMS Energy earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 185M 185M 185M 185M 185M 185M
Cash burn (monthly) 124.33M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 427.2M n/a n/a n/a n/a n/a
Cash remaining -242.2M n/a n/a n/a n/a n/a
Runway (months of cash) -1.9 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
19 Mar 21 Rich Brian F Common Stock Payment of exercise Dispose F No No 58.35 3,510 204.81K 78,043
19 Mar 21 Rich Brian F Common Stock Grant Aquire A No No 0 2,886 0 81,553
19 Mar 21 Rochow Garrick J Common Stock Payment of exercise Dispose F No No 58.35 4,946 288.6K 185,222
19 Mar 21 Rochow Garrick J Common Stock Grant Aquire A No No 0 4,067 0 190,168
19 Mar 21 LeeRoy Wells Jr Common Stock Payment of exercise Dispose F No No 58.35 1,105 64.48K 22,902
19 Mar 21 LeeRoy Wells Jr Common Stock Grant Aquire A No No 0 919 0 24,007
19 Mar 21 Hayes Rejji P Common Stock Payment of exercise Dispose F No No 58.35 7,594 443.11K 133,161
19 Mar 21 Hayes Rejji P Common Stock Grant Aquire A No No 0 6,245 0 140,755
19 Mar 21 Johnson Shaun M Common Stock Payment of exercise Dispose F No No 58.35 1,150 67.1K 32,382
19 Mar 21 Johnson Shaun M Common Stock Grant Aquire A No No 0 945 0 33,532

Financial report summary

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Risks
  • CMS Energy depends on dividends from its subsidiaries to meet its debt service obligations.
  • CMS Energy has indebtedness that could limit its financial flexibility and its ability to meet its debt service obligations.
  • CMS Energy and Consumers have financing needs and could be unable to obtain bank financing or access the capital markets.
  • Market performance and other changes could decrease the value of employee benefit plan assets, which then could require substantial funding.
  • Changes to ROA could have a material adverse effect on CMS Energy’s and Consumers’ businesses.
  • CMS Energy and Consumers are subject to rate regulation, which could have an adverse effect on financial results.
  • Utility regulation, state or federal legislation, and compliance could have a material adverse effect on CMS Energy’s and Consumers’ businesses.
  • Changes in taxation as well as the inherent difficulty in quantifying potential tax effects of business decisions could negatively impact CMS Energy and Consumers.
  • CMS Energy and its subsidiaries, including Consumers and EnerBank, must comply with the Dodd-Frank Act and its related regulations, which are subject to change and could involve material costs or affect operations.
  • CMS Energy and Consumers could incur substantial costs to comply with environmental requirements.
  • CMS Energy’s and Consumers’ businesses could be affected adversely by any delay in meeting environmental requirements.
  • CMS Energy and Consumers expect to incur additional substantial costs related to remediation of legacy environmental sites.
  • There are risks associated with Consumers’ substantial capital investment program planned for the next ten years.
  • CMS Energy and Consumers could be affected adversely by legacy litigation and retained liabilities.
  • Consumers is exposed to risks related to general economic conditions in its service territories.
  • Consumers is exposed to changes in customer usage that could impact financial results.
  • CMS Energy’s and Consumers’ energy sales and operations are affected by seasonal factors and varying weather conditions from year to year.
  • CMS Energy and Consumers are subject to information security risks, risks of unauthorized access to their systems, and technology failures.
  • CMS Energy’s and Consumers’ businesses have liability risks.
  • CMS Energy and Consumers are subject to risks that are beyond their control, including but not limited to natural disasters, civil unrest, terrorist attacks and related acts of war, cyber incidents, vandalism, and other catastrophic events.
  • Energy risk management strategies might not be effective in managing fuel and electricity pricing risks, which could result in unanticipated liabilities to CMS Energy and Consumers or increased volatility in their earnings.
  • Consumers might not be able to obtain an adequate supply of natural gas or coal, which could limit its ability to operate its electric generation facilities or serve its natural gas customers.
  • Unplanned outages or maintenance could be costly for CMS Energy or Consumers.
  • The COVID-19 pandemic could materially and adversely affect each of CMS Energy’s and Consumers’ business, results of operations, financial condition, capital investment program, liquidity, and cash flows.
  • CMS Energy and Consumers are exposed to counterparty risk.
  • CMS Energy and Consumers are exposed to significant reputational risks.
  • A work interruption or other union actions could adversely affect Consumers.
  • Failure to attract and retain an appropriately qualified workforce could adversely impact CMS Energy’s and Consumers’ results of operations.
Management Discussion
  • 1See Note 3, Regulatory Matters and Note 22, Asset Sale and Exit Activities.
  • 2See Note 3, Regulatory Matters.
  • For specific after-tax changes to net income available to common stockholders for 2019 versus 2018, see Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Results of Operations—CMS Energy Consolidated Results of Operations, in the Form 10‑K for the fiscal year ended December 31, 2019, filed February 6, 2020.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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