April 25 (Reuters) - CMS Energy (CMS.N) New Tab, opens new tab reported a rise in first-quarter profit on Thursday, as the electric and gas utility benefitted from higher sales and improved weather which lowered storm-related restoration costs.

Operating expenses for the first quarter, which include restoration costs, fell to $1.76 billion from $1.97 billion in the year-ago quarter.

U.S. natural gas futures fell about 30% sequentially in the January-March quarter, which helped utilities such as CMS Energy reduce their costs.

CMS Energy, which provides services to about 6.8 million customers across Michigan, also reaffirmed its full-year adjusted profit forecast of $3.29 to $3.35 per share, compared with analysts' estimates of $3.33 per share, per LSEG data.

"We experienced a warmer-than-normal winter but remain on track to deliver our full-year earnings guidance," said Garrick Rochow, CEO of CMS Energy.

Peers such as Xcel Energy (XEL.O) New Tab, opens new tab and PG&E Corp (PCG.N) New Tab, opens new tab also benefitted from lower operating expenses and reported a rise in first-quarter profit earlier today.

The Jackson, Michigan-based firm said net income attributable to shareholders rose to $285 million, or 96 cents per share, in the quarter ended March 31, from $202 million, or 69 cents per share, a year ago.

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https://www.reuters.com/business/energy/cms-energy-posts-higher-first-quarter-profit-helped-by-robust-demand-lower-costs-2024-04-25/