CMS FY 2024 Earnings Report — CMS Energy Corporation Revenue & Financial Results | Market Cap Arena

CMS Energy CorporationCMS

FY 2024 Earnings

Reported February 11, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$7.5B	—	$7.5B	—	0.7%
Op. Income	$1.5B	—	$1.2B	—	20.4%
Gross Margin	42.7%	—	38.4%	—	4.3pp
Net Margin	13.3%	—	11.9%	—	1.5pp
EPS (Diluted)	$3.33	—	$3.01	—	10.6%
Free Cash Flow	-$648M	—	-$910M	—	28.8%

Revenue Flow

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$4.3B
GROSS PROFIT	$3.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.7B
Operating Expenses	$1.7B
Cost & Expenses	$6.0B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$708M
Other Income/Expenses	-$364M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$176M
Net Income from Continuing Ops	$947M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$993M
D&A	$1.2B
EBIT	$1.8B
EBITDA	$3.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$4.3B
GROSS PROFIT	$3.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$1.7B
Operating Expenses	$1.7B
Cost & Expenses	$6.0B
OPERATING INCOME	$1.5B
Interest Income	$0
Interest Expense	$708M
Other Income/Expenses	-$364M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$176M
Net Income from Continuing Ops	$947M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.0B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$993M
D&A	$1.2B
EBIT	$1.8B
EBITDA	$3.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.0B
Depreciation & Amortization	$1.2B
Stock-Based Compensation	$0
Deferred Income Tax	$142M
Other Non-Cash Items	-$277M
Change in Working Capital	$262M
OPERATING CASH FLOW	$2.4B
Capital Expenditure	-$3.0B
Acquisitions (Net)	$129M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$160M
NET CASH FROM INVESTING	-$3.0B
Net Debt Issuance	$982M
Common Stock Repurchased	$0
Common Dividends Paid	-$626M
Other Financing Activities	-$33M
NET CASH FROM FINANCING	$609M
FREE CASH FLOW	-$648M
Net Change in Cash	-$70M

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$0
Net Receivables	$1.1B
Inventory	$769M
Other Current Assets	$304M
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$27.5B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$69M
Tax Assets	$0
Other Non-Current Assets	$5.6B
TOTAL NON-CURRENT ASSETS	$33.1B
TOTAL ASSETS	$35.9B
Account Payables	$1.1B
Short-Term Debt	$1.3B
Deferred Revenue	$0
Other Current Liabilities	$355M
TOTAL CURRENT LIABILITIES	$3.5B
Long-Term Debt	$15.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.0B
Other Non-Current Liabilities	$5.3B
TOTAL NON-CURRENT LIABILITIES	$23.7B
TOTAL LIABILITIES	$27.2B
Common Stock	$3M
Additional Paid-In Capital	$6.0B
Retained Earnings	$2.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$41M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.2B
Minority Interest	$518M
TOTAL EQUITY	$8.7B
TOTAL LIABILITIES & EQUITY	$35.9B
Total Debt	$16.6B
Net Debt	$16.5B