CMS Energy Corporation (NYSE:CMS) Q4 2022 Earnings Call Transcript

Travis Miller: Good morning everyone, thank you?

Garrick Rochow: Hi Travis, good morning.

Travis Miller: You actually couple questions ago, you answered my question about unpacking that other $0.19 to $0.25 on next year’s earnings. Just one quick follow-up to that, the usage so that’s seven that you used $0.07 on the 1% change in the electric side, especially, is that on the numbers that you talked about in terms of what’s in the guidance or is that incremental to what’s on that guidance to you? You understand my question?

Rejji Hayes: Yes, I do follow you. Yes, so the sensitivities that you see Travis on Page 15. This just highlights what the EPS impact would be if we saw another point good or bad relative to plan. And so, the sensitivity around on the electric side is about $0.07 for every percent. Now it obviously depends on mix. And so we’re assuming, like I said, for the usage, about, call it, about 0.25% up on a blended basis with resi coming down a little over 0.5% commercial, about 0.5% up and then industrial 1.5% to 2%. And so modeling purposes, that’s sort of the base case. And then if we saw any deviation, that’s what the sensitivity, provides visibility on. Does that address your question?

Travis Miller: Yes, yes absolutely. And that could be weather sensitivity, right that’s not necessarily just why they’re normal I think weather benefit or determines.

Rejji Hayes: Yes, that’s exactly, right.

Travis Miller: Okay very good, that’s all. Yes that’s all I have, appreciate it.

Garrick Rochow: Thank you.

Operator: We have no further questions at this time. So I’ll hand the call back to Mr. Garrick Rochow for concluding remarks.

Garrick Rochow: Thanks, Adam. I’d like to thank everyone for joining us today for our year-end earnings call. Certainly hope to see you on the road over the next coming months. So take care and stay safe.

Operator: This concludes today’s call. Thank you very much for your attendance. You may now disconnect your lines.