CMS Energy announced reported net income of $67 million, or $0.25 per share, for the second quarter of 2015 and $269 million, or $0.98 per share, for the first half of 2015.
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Adjusted non-GAAP earnings per share for the second quarter and first half were the same as reported amounts. Earnings per share in 2015 grew 3 cents compared with 2014 on a weather-normalized basis.
CMS Energy reaffirmed its guidance for 2015 adjusted earnings of $1.86 to $1.89 per share. This is consistent with the company's long-term plan of 5 percent to 7 percent annual adjusted earnings per share growth.
In the first half of 2015, CMS Energy continued to execute its business plan which emphasizes investments in its operations with a focus on safety, customer satisfaction, reliability and the environment.
John Russell, CMS Energy's president and chief executive officer, said that CMS Energy's principal subsidiary, Consumers Energy, is investing to strengthen its natural gas and electric infrastructure to enhance customer service, and improve Michigan's environment.
For the first time, Consumers Energy will be adding solar power to its renewable energy portfolio, as part of a new Solar Gardens program. The program, with potentially 10 megawatts of capacity, will test the viability of utility-scale solar installations in Michigan.
Meanwhile, Consumers Energy is committing nearly $200 million this year to upgrade its natural gas system throughout Michigan, and has increased its workforce by 600 since 2012 to achieve this upgrade.
In addition, the company and the Michigan State Utility Workers Union reached agreements on new five-year service contracts, expiring in 2020.
To help strengthen Michigan's economy, Consumers Energy will be spending $1 billion a year with in-state companies for each of the next 5 years, for a total of $5 billion, as part of its commitment to Pure Michigan Business Connect. Governor Rick Snyder commended Consumers Energy for its growing support for Michigan companies. ■