CMS Energy (CMS)
NYSE:CMS
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.78Last Year’s EPS
0.71Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple constructive items: strong regulatory outcomes (65% of electric ask approved, 9.9% ROE), solid first-quarter results (adjusted EPS $1.13; adjusted net income $346M), reaffirmed full-year guidance ($3.83–$3.90), an expanding customer pipeline (110 MW signed YTD, 2%–3% sales growth outlook), and meaningful long-term data-center-driven growth optionality (1 GW ≈ $2B–$5B CapEx and ~2% rate reduction per GW). Offsetting these positives were near-term operational and financing headwinds: a meaningful March ice storm (-$0.05/share), a weather-driven ~$0.23/share headwind for the balance of the year, Moody’s negative outlook on the utility due to capital/recovery timing, and incremental equity/financing pressure if large-load conversions accelerate capital needs. Overall, the company appears confident in execution, growth opportunities, and guidance, but faces tangible near-term weather, credit-outlook, and financing risks that management is actively addressing.Company Guidance
Strong Regulatory Outcomes
Electric rate case: regulatory commission approved over 65% of CMS Energy's ask and maintained a 9.9% ROE for the electric business, providing constructive support for customer investments and grid resiliency.
Solid Quarterly Financial Results and Reaffirmed Guidance
First-quarter adjusted net income of $346 million and adjusted EPS of $1.13. Company reaffirmed full-year adjusted EPS guidance of $3.83 to $3.90 and reiterated long-term adjusted EPS growth target of 6%–8%.
Customer Affordability Metrics
Michigan electric bills ranked 14th lowest in the U.S.; customer bills (electric and gas) are expected to remain below the energy CPI while the company invests over $24 billion in its five-year plan. Target dividend yield ~3%.
Growth in Customer Load and Sales Outlook
Signed roughly 110 MW of new customer contracts year-to-date vs ~100 MW signed last year (≈10% increase), on top of ~450 MW connected last year. Company expects broad state-driven load growth of ~2%–3% annual sales growth.
Data Center and Large-Load Opportunity
Advanced progress on multiple hyperscaler data-center deals (one nearing final contract). Pipeline historically ~9 GW (and described as larger today). Company estimates each 1 GW of new large load could drive $2 billion–$5 billion of incremental CapEx and would reduce average customer rates by ~2% annually over a five-year period.
NorthStar and Renewable Project Contributions
NorthStar outperformed a soft comp from last year and contributed positively to the quarter; milestones on renewable projects delivered positive earnings impacts and drove part of a $0.04 per share favorable variance in the quarter.
Proactive Financing and De-risking Steps
Executed equity forward contracts totaling approximately $495 million during the quarter and settled ~$142 million of those contracts. Company plans to issue an aggregate ~ $700 million of equity over the year and previously issued convertible debt to address parent financing flexibility.
Credit Rating Stability (Reaffirmations)
Both Moody’s and Fitch reaffirmed CMS Energy's credit ratings in March, reflecting continued investment-grade status for the company overall.
CMS Earnings History
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 |
|---|---|---|---|
Apr 28, 2026 | $76.05 | $75.92 | -0.17% |
Feb 05, 2026 | $71.07 | $72.32 | +1.76% |
Oct 30, 2025 | $71.22 | $72.12 | +1.27% |
Jul 31, 2025 | $70.58 | $72.17 | +2.26% |
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 Jul 23, 2026, Before Open (Confirmed).
What is CMS Energy (CMS) earnings time?
CMS Energy (CMS) earnings time is at Jul 23, 2026, 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 2026 (Q2) is 0.78.