CMS Energy earnings exceeded analyst expectations in the third quarter of 2026, with non-GAAP earnings of $1.44 per share. Revenue rose 7.9% from a year earlier to $2.18 billion, while shares fell 1.5% in after-hours trading.
Key Takeaways
- Quarterly earnings beat estimates by $0.09 per share, while revenue matched forecasts.
- CMS reaffirmed its adjusted earnings guidance for 2026 and 2027.
CMS Energy earnings and revenue
CMS announced its results on October 27, 2026. The earnings beat compares non-GAAP earnings per share with analyst forecasts; the revenue growth figure compares sales with the third quarter of 2025.
The Michigan-based utility holding company’s primary business is Consumers Energy, which serves approximately 1.9 million electric and 1.8 million natural gas customers. CMS also operates NorthStar Clean Energy, which focuses on renewable power generation.
| Item | Details |
|---|---|
| 2026 adjusted EPS guidance | $3.83–$3.90 |
| 2027 adjusted EPS guidance | $4.08–$4.17 |
Full-year outlook remains unchanged
CMS reaffirmed its adjusted earnings-per-share ranges for both 2026 and 2027. These figures are management forecasts for full years, not completed quarterly results.
The company also maintained a long-term growth outlook of 6% to 8%.
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