CMS · CMS Energy Q2 FY2026 earnings call record财报电话会记录

“This proven model drives a premium total shareholder return made up of 6%-8% adjusted EPS growth compounded annually and paired with an approximately 3% dividend yield.”

“On a consolidated basis, this means nearly 100% of our earnings and future growth will be rate base driven within the utility, supporting higher quality growth while simplifying and strengthening our overall business strategy and outlook.”

“We also have a clearer line of sight on our 2027 guidance given the change in strategy at NorthStar, and our introducing full-year 2027 guidance of $4.08 to $4.17, which maintains growth within our long-term guidance range of 6%-8% off of 2025 actuals.”

“The $0.23 year-over-year unfavorable variance is primarily due to benefits realized in the first half of 2025 from liability management that were already contemplated in our 2026 plan and do not impact our full-year guidance.”

“Relative to our planned assumptions so far this year, the primary headwind has been the impact of storms, which we have identified actions to offset, including, but not limited to, the pending storm deferral filed with the commission.”

“However, it does mitigate potential headwinds or allow reinvestment to benefit customers and strengthen the plan for the future.”

“We remain on track to complete our 2026 financing plan, including planned debt issuances at the utility and the remainder of our common equity issuance under our established ATM program.”

“This year, we plan to issue $700 million and have already completed nearly $500 million at attractive prices.”

“This slide depicts how growth and affordability reinforce one another and do so year in and year out, delivering 6%-8% earnings growth for investors while keeping customer bill growth at or below inflation.”

“Finally, with 2%-3% sales growth anticipated and the ongoing customer benefits of energy efficiency, which is up to 2% on the electric side, we see lower customer bills as individual customer consumption is reduced and fixed costs are spread across increasing loads.”

“The foundation of our business model is strong, and in the 12 years I've been with the company, the opportunities to serve our customers, grow our state, and drive long-term value for our investors have never been better.”

“In terms of restoration over the first six months of the year, 92% of our customers were restored in 24 hours or less across that.”