CMS Energy Corp (CMS) CEO Garrick Rochow on Q1 2022 Results - Earnings Call Transcript

CMS Energy Corp (NYSE:CMS) Q1 2022 Earnings Conference Call May 3, 2022 9:00 AM ET

Company Participants

Srikanth Maddipati - VP, IR & Finance and Treasurer

Garrick Rochow - President, CEO & Director

Rejji Hayes - EVP & CFO

Conference Call Participants

Michael Sullivan - Wolfe Research

Jeremy Tonet - JPMorgan Chase & Co.

Andrew Weisel - Scotiabank

Insoo Kim - Goldman Sachs Group

Shahriar Pourreza - Guggenheim Securities

Jonathan Arnold - Vertical Research Partners

Travis Miller - Morningstar Inc.

Durgesh Chopra - Evercore ISI

Gregg Orrill - UBS

Julien Dumoulin-Smith - Bank of America Merrill Lynch

Nicholas Campanella - Credit Suisse

Paul Patterson - Glenrock Associates

Anthony Crowdell - Mizuho Securities

Operator

Good morning, everyone, and welcome to the CMS Energy 2022 First Quarter Results. The earnings news release issued earlier today and the presentation used in this webcast are available on CMS Energy's website in the Investor Relations section. This call is being recorded. [Operator Instructions]. Just a reminder, there will be a rebroadcast of this conference call today beginning at 12 p.m. Eastern Time, running through May 10. This presentation is also being webcast and is available on CMS Energy's website in the Investor Relations section.

At this time, I would now like to turn the call over to Mr. Sri Maddipati, Treasurer and Vice President of Finance and Investor Relations.

Srikanth Maddipati

Thank you, Austin. Good morning, everyone, and thank you for joining us today. With me are Garrick Rochow, President and Chief Executive Officer; and Rejji Hayes, Executive Vice President and Chief Financial Officer.

This presentation contains forward-looking statements are subject to risks and uncertainties. Please refer to our SEC filings for more information regarding the risks and other factors that could cause our actual results to differ materially. This presentation also includes non-GAAP measures. Reconciliations of these measures to the most directly comparable GAAP measures are included in the appendix and posted on our website.

Now, I'll turn the call over to Garrick.

Garrick Rochow

Thanks, Sri, and thank you, everyone, for joining our call today. I'm pleased to share the great progress we have made over the quarter and with our IRP.

You've heard me speak about our simple investment thesis on many of these calls. It has withstood the test of time, and this quarter was no different. The industry leading at 0 commitments. These aren't just words. They are evident in our actions and our results. Our IRP settlement paves the way to be out of coal by 2025, one of the first utilities in the nation to achieve such a milestone. Our recently announced net 0 goal for our gas system, not just a dream but evident and proof point in our net 0 methane target and a 20% reduction in customer emissions by 2030.