CMS Energy Announces 2013 Earnings Of $1.66 Per Share, Up 7%; Raises 2014 Adjusted Earnings Guidance To $1.74 To $1.78 Per

  CMS Energy Announces 2013 Earnings Of $1.66 Per Share, Up 7%; Raises 2014
     Adjusted Earnings Guidance To $1.74 To $1.78 Per Share, Up 5% To 7%

ANNOUNCES PLAN TO PURCHASE CLEAN-BURNING NATURAL GAS PLANT

PR Newswire

JACKSON, Mich., Jan. 30, 2014

JACKSON, Mich., Jan. 30, 2014 /PRNewswire/ --CMS Energy announced today
reported net income of $102 million, or $0.37 per share, for the fourth
quarter of 2013, compared to reported net income of $67 million, or $0.25 per
share, for the same quarter of 2012. Adjusted (non-Generally Accepted
Accounting Principles) net income for the fourth quarter and year was the same
as the reported amounts.

For 2013, CMS Energy had reported net income of $452 million, or $1.66 per
share, compared to $382 million, or $1.42 per share, for the same period of
2012.

CMS Energy raised previously provided guidance for 2014 adjusted earnings to
$1.74 to $1.78 per share, consistent with the company's long-term plan of 5
percent to 7 percent annual earnings per share growth.

John Russell, CMS Energy's president and chief executive officer, said the
company's strong financial performance in 2013 marked 11 straight years that
it has met or exceeded its adjusted earnings guidance.

The company also announced today its plan to purchase, for $155 million, a 540
megawatt clean-burning natural gas power plant in its hometown of Jackson,
Michigan, and will place on hold plans for a new $700 million gas plant in
Thetford Township, Genesee County. The Jackson plant is scheduled to become
part of Consumers Energy's generating system in the first quarter of 2016, and
will partially replace electric capacity from seven older coal-fired plants
planned for retirement in April 2016. Purchase of the Jackson plant is
subject to customary closing conditions, including regulatory approvals.

"The gas plant is a great example of our plan to make strategic investments in
Michigan and provide customers with safe, affordable, reliable and
increasingly clean energy," said Russell. "More than a half-billion in savings
by buying versus building provides significant headroom to expand our gas
utility, the 4^th-largest in the U.S., as well as continue investments in
improvements in electric reliability. We're updating our power generation
portfolio to emphasize sustainability, environmental benefits and long-term
value for customers."

"Our electric system recently faced major challenges with the worst ice storm
in a decade, including a record number of downed-wires and employees and
out-of-state line workers restoring service. We thank our customers for their
support during this catastrophic storm and we appreciate the extraordinary
service by our employees, mutual assistance crews and contractors during
Christmas week."

Russell said that CMS Energy's principal subsidiary, Consumers Energy,
Michigan's largest utility with three million electric and natural gas
customers, still plans to invest about $15 billion in its operations over the
next 10 years to enhance customer value.

"Our customers' needs guide our investment decisions, including strengthening
distribution reliability, energy efficiency programs that lower energy bills,
and growing our supply of renewable energy as Michigan's leader in that area.
Our ongoing cost control program provides us the ability to make these
investments and deliver on our commitment to consistent financial
performance."

Russell noted that Michigan Governor Rick Snyder's recent major address on
future energy policy, which emphasized adaptability, reliability,
affordability and protection of the environment, is consistent with the
company's strategic approach and investment plans.

These plans also include enhancing the delivery capacity of Consumers Energy's
natural gas system through investments in its 15 gas storage fields,
compressor stations and gas main replacement program. The company's gas fuel
prices are the lowest they've been in a decade.

Russell said the company will substantially increase its efforts in 2014 to
strengthen the Michigan communities where it provides electric and gas
service, including support for local businesses.

"In addition to the $2 billion we annually spend in Michigan on goods and
services, we are the largest sponsor of Pure Michigan Business Connect, which
encourages Michigan companies to do more business with each other. At
year-end, we have awarded $775 million in contracts to Michigan companies,
creating an estimated 5,000 jobs."

In reviewing recent major events, Russell cited:

  oAll-time records were set January 6-7 for gas storage withdrawal and for
    one-hour delivery to the company's 1.7 million customers.
  oConstruction started on Cross Winds® Energy Park, the company's second
    wind facility, scheduled to begin serving customers in the fourth
    quarter.
  oConstruction continues on the $120 million Southwest Michigan Pipeline to
    strengthen gas delivery reliability and support strategic supply
    purchases.
  oAchieved first-quartile ranking for sustainable business practices among
    24 utilities.

CMS Energy (NYSE: CMS) is a Michigan-based company that has an electric and
natural gas utility, Consumers Energy, as its primary business and also owns
and operates independent power generation businesses.

CMS Energy provides historical financial results on both a reported (Generally
Accepted Accounting Principles) and adjusted (non-GAAP) basis and provides
forward-looking guidance on an adjusted basis. Management views adjusted
earnings as a key measure of the company's present operating financial
performance, unaffected by discontinued operations, asset sales, impairments,
regulatory items from prior years, or other items detailed in the attached
summary financial statements. These items have the potential to impact,
favorably or unfavorably, the company's reported earnings in future periods.
Because the company is not able to estimate the impact of these matters, the
company is not providing a reconciliation to the comparable future period
reported earnings.

This news release contains "forward-looking statements" as defined in Rule
3b-6 of the Securities Exchange Act of 1934, Rule 175 of the Securities Act of
1933, and relevant legal decisions. The forward-looking statements are subject
to risks and uncertainties. All forward-looking statements should be
considered in the context of the risk and other factors detailed from time to
time in CMS Energy's and Consumers Energy's Securities and Exchange Commission
filings. Forward-looking statements should be read in conjunction with
"FORWARD-LOOKING STATEMENTS AND INFORMATION" and "RISK FACTORS" sections of
CMS Energy's Form 10-K and Consumers Energy's Form 10-K each for the year
ended December 31, 2012 and as updated in CMS Energy's and Consumers Energy's
Forms 10-Q.

CMS Energy's and Consumers Energy's "FORWARD-LOOKING STATEMENTS AND
INFORMATION" and "RISK FACTORS" sections are incorporated herein by reference
and discuss important factors that could cause CMS Energy's and Consumers
Energy's results to differ materially from those anticipated in such
statements.

For more information on CMS Energy, please visit our web site at:
www.cmsenergy.com

CMS Energy Corporation
SUMMARIZED CONSOLIDATED STATEMENTS OF INCOME
(In Millions, Except Per Share Amounts)
                              Fourth Quarter           Full Year
                              (Unaudited)              (Unaudited)
                              2013        2012         2013        2012
Operating Revenue             $  1,736  $  1,670   $  6,566  $  6,253
Operating Expenses            1,472       1,458        5,424       5,250
Operating Income             $   264  $   212   $  1,142  $  1,003
Other Income (Expense)        (1)         (7)          12          8
Interest Charges              99          96           398         389
Income before Income Taxes    $   164  $   109   $   756  $   622
Income Tax Expense           62          42           302         245
Income from Continuing        $   102  $    67  $   454  $   377
Operations
Income from Discontinued      -           -            -           7
Operations
Net Income                   $   102  $    67  $   454  $   384
Income Attributable to        -           -            2           2
Noncontrolling Interests
Net Income Available to       $   102  $    67  $   452  $   382
Common Stockholders
Income Per Share
 Basic            $   0.38  $   0.26   $   1.71  $   1.46
 Diluted          0.37        0.25         1.66        1.42

CMS Energy Corporation
SUMMARIZED CONSOLIDATED BALANCE SHEETS
(In Millions)
                                               December 31      December 31
                                               2013             2012
                                               (Unaudited)
Assets
Cash and cash equivalents                      $      172  $      93
Restricted cash and cash equivalents           32               29
Other current assets                           2,322            2,300
 Total current assets                        $     2,526  $    2,422
Plant, property, and equipment                 12,246           11,551
Other non-current assets                       2,644            3,158
Total Assets                                   $    17,416   $   17,131
Liabilities and Equity
Current liabilities                            $     1,213  $    1,146
Non-current liabilities                       4,741            5,233
Capitalization
 Debt, capital leases, and financing
obligation (*)
 Debt, capital leases, and financing
obligation
 (excluding non-recourse and           7,227            6,854
securitization debt)
 Non-recourse debt                       652              527
 Total debt, capital leases, and financing   7,879            7,381
obligation
 Noncontrolling interests                    37               44
 Common stockholders' equity                 3,454            3,194
 Total capitalization                        $    11,370   $   10,619
Securitization debt                            92               133
Total Liabilities and Equity                   $    17,416   $   17,131
(*) Current and long-term

CMS Energy Corporation
SUMMARIZED STATEMENTS OF CASH FLOWS
(In Millions)
                                             Full Year
                                             (Unaudited)
                                             2013              2012
Beginning of Period Cash                     $       93  $     161
Cash provided by operating activities        $     1,421   $    1,241
Cash used in investing activities            (1,532)           (1,350)
Cash flow from operating and investing       $     (111)  $    (109)
activities
Cash provided by financing activities        190               41
Total Cash Flow                              $       79  $     (68)
End of Period Cash                           $      172   $      93



CMS Energy Corporation
SUMMARY OF CONSOLIDATED EARNINGS
Reconciliations of GAAP Net Income to Non-GAAP Adjusted Net Income
(In Millions, Except Per Share Amounts)
                                  Fourth Quarter           Full Year
                                  (Unaudited)              (Unaudited)
                                  2013          2012       2013   2012
Net Income Available to Common    $   102    $       $    $    382
Stockholders                                    67        452
Reconciling Items:
        Discontinued Operations   -             -          -      (7)
        Income
        Electric Decoupling Court -             -          -      36
        Order
        Voluntary Separation      -             -          -      7
        Program
        Restructuring Costs and   -             -          -      (1)
        Other
Adjusted Net Income - Non-GAAP    $   102    $       $    $    417
Basis                                           67        452
Average Number of Common Shares
Outstanding
        Basic                     265           263        265    261
        Diluted                   272           269        272    269
Basic Earnings Per Average Common
Share
Net Income Per Share as Reported  $   0.38    $        $    $   1.46
                                                0.26       1.71
Reconciling Items:
        Discontinued Operations   -             -          -      (0.03)
        Income
        Electric Decoupling Court -             -          -      0.14
        Order
        Voluntary Separation      -             -          -      0.03
        Program
Adjusted Net Income - Non-GAAP    $   0.38    $        $    $   1.60
Basis                                           0.26       1.71
Diluted Earnings Per Average
Common Share
Net Income Per Share as Reported  $   0.37    $        $    $   1.42
                                                0.25       1.66
Reconciling Items:
        Discontinued Operations   -             -          -      (0.03)
        Income
        Electric Decoupling Court -             -          -      0.14
        Order
        Voluntary Separation      -             -          -      0.03
        Program
        Restructuring Costs and   -             -          -      (0.01)
        Other
Adjusted Net Income - Non-GAAP    $   0.37    $        $    $   1.55
Basis                                           0.25       1.66
Note:   Management views adjusted (non-Generally Accepted Accounting
        Principles) earnings as a
        key measure of the Company's present operating financial performance,
        unaffected by
        discontinued operations, asset sales, impairments, regulatory items
        from prior years,
        or other items detailed in these summary financial statements.



SOURCE CMS Energy

Website: http://www.cmsenergy.com
Contact: Media Contacts: Dan Bishop, 517/788-2395 or Brian Wheeler,
517/788-2394, or Investment Analyst Contact: CMS Energy Investor Relations,
517/788-2590
 
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