The earnings call presented a generally positive outlook for CMS Energy, highlighting significant new business from a data center agreement and strong financial performance for the first half of 2025. The company also noted a supportive regulatory environment and a strong credit position. However, there were some challenges, including a temporary operational issue and increased management costs.

Company Guidance

During the CMS Energy 2025 Second Quarter Results call, the company provided extensive guidance and updates on its future plans. CMS announced an agreement with a new data center expected to add up to 1 gigawatt of load, contributing to a 9-gigawatt pipeline in their service area. The company is anticipating long-term annual sales growth of 2% to 3%, with this data center load ramping up towards the end of their five-year plan. CMS also discussed various investment opportunities exceeding $25 billion beyond the current five-year plan, with an early estimate of an additional $5 billion needed for capacity enhancements. This includes building more storage and gas capacity to replace retiring plants and a large PPA expiring in 2030. Financially, CMS reaffirmed their full-year guidance of $3.54 to $3.60 per share and expressed confidence in achieving the high end of their long-term adjusted EPS growth range of 6% to 8%. The company noted strong performance in the first half of 2025, with adjusted earnings per share of $1.73, supported by favorable weather and constructive regulatory outcomes. Additionally, CMS highlighted the completion of much of its 2025 financing plan and ongoing efforts to optimize future funding needs.

Data Center Agreement

CMS Energy announced an agreement with a new data center expected to add up to 1 gigawatt of load, contributing to a 9-gigawatt pipeline. This is expected to support long-term sales growth estimates of 2% to 3%.

Positive Financial Performance

The company reported a strong first half of 2025 with adjusted earnings per share of $1.73, ahead of their budget and full-year guidance, driven by favorable weather and constructive regulatory outcomes.

Constructive Regulatory Environment

CMS Energy highlighted a favorable regulatory environment in Michigan, including the approval of the first-ever storm deferral and supportive outcomes in rate cases.

Strong Credit and Financing Position

Moody's reaffirmed CMS Energy's credit ratings in May 2025. The company has completed most of its financing plan for the year, securing approximately $350 million through equity contracts.

CMS Energy (CMS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CMS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.85 / -	0.84	―	―	―
Jul 31, 2025	2025 (Q2)	0.68 / 0.71	0.66	7.58% (+0.05)
Apr 24, 2025	2025 (Q1)	1.01 / 1.02	0.97	5.15% (+0.05)
Feb 06, 2025	2024 (Q4)	0.87 / 0.87	1.05	-17.14% (-0.18)
Oct 31, 2024	2024 (Q3)	0.78 / 0.84	0.61	37.70% (+0.23)
Jul 25, 2024	2024 (Q2)	0.62 / 0.66	0.75	-12.00% (-0.09)
Apr 25, 2024	2024 (Q1)	0.92 / 0.97	0.7	38.57% (+0.27)
Feb 01, 2024	2023 (Q4)	1.04 / 1.05	0.6	75.00% (+0.45)
Oct 26, 2023	2023 (Q3)	0.59 / 0.61	0.56	8.93% (+0.05)
Jul 27, 2023	2023 (Q2)	0.70 / 0.75	0.53	41.51% (+0.22)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CMS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$71.64	$73.26	+2.26%
Apr 24, 2025	$72.42	$73.05	+0.87%
Feb 06, 2025	$65.62	$66.80	+1.80%
Oct 31, 2024	$68.02	$67.54	-0.71%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does CMS Energy (CMS) report earnings?

CMS Energy (CMS) is schdueled to report earning on Oct 23, 2025, Before Open (Confirmed).

What is CMS Energy (CMS) earnings time?

CMS Energy (CMS) earnings time is at Oct 23, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is CMS EPS forecast?

CMS EPS forecast for the fiscal quarter 2025 (Q3) is 0.85.

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