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CMS Energy Corporation (CMS - Free Report) reported third-quarter 2025 earnings per share (EPS) of 93 cents, which beat the Zacks Consensus Estimate of 86 cents by 8.1%. The bottom line also increased 10.7% from 84 cents in the prior-year quarter.
The company reported GAAP earnings of 92 cents per share, up from 84 cents recorded in the year-ago quarter.
CMS' Revenues
Operating revenues totaled $2.02 billion, which beat the Zacks Consensus Estimate of $1.82 billion by 11.2%. The top line also increased 16.1% from $1.74 billion in the prior-year quarter.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS' operating expenses amounted to $1.54 billion, up 11.9% from the year-ago quarter’s figure.
Operating income was $481 million, higher than the year-ago quarter’s figure of $367 million.
Interest charges totaled $203 million, up 14% from that recorded a year ago.
Financial Condition of CMS
CMS Energy had cash and cash equivalents of $362 million as of Sept. 30, 2025, compared with $103 million as of Dec. 31, 2024.
As of Sept. 30, 2025, total debt and financial leases (excluding securitization debt) were $17.47 billion compared with $15.87 billion as of Dec. 31, 2024.
The net cash flow from operating activities was $1.76 billion during the first nine months of 2025 compared with $1.97 billion in the prior-year period.
CMS' 2025 Guidance
The company raised its 2025 adjusted earnings guidance to $3.56-$3.60 per share from $3.54-$3.60. The Zacks Consensus Estimate for 2025 earnings is currently pegged at $3.59, which is just higher than the midpoint of the company’s newly guided range.
The company also initiated 2026 adjusted earnings guidance of $3.80-$3.87 per share. The Zacks Consensus Estimate for 2026 EPS is currently pegged at $3.86, which is close to the higher-end of the company’s guided range.
CMS also reaffirmed its long-term adjusted EPS growth in the band of 6-8%.
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2025 adjusted earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.04 by nearly 8.7%. The bottom line was also up nearly 9.7% year over year.
In the third quarter, NextEra Energy’s operating revenues totaled $7.96 billion, which missed the Zacks Consensus Estimate of $8.11 billion by 1.86%. However, the top line improved 5.3% year over year.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2025 adjusted earnings of 50 cents per share, which surpassed the Zacks Consensus Estimate of 46 cents by 8.7%. The bottom line also increased 61.3% from the year-ago quarter’s figure of 31 cents.
CNP generated revenues of $1.99 billion, which beat the Zacks Consensus Estimate by 0.5%. The top line also came in 7.1% higher than the year-ago quarter’s reported figure of $1.86 billion.
Entergy Corporation (ETR - Free Report) reported third-quarter 2025 earnings of $1.53 per share, which surpassed the Zacks Consensus Estimate of $1.46 by 4.8%. The bottom line also improved 2% from the year-ago quarter’s figure of $1.50.
Entergy reported revenues of $3.81 billion, which beat the Zacks Consensus Estimate of $3.51 billion by 8.6%. The top line also inched up 12.4% from the year-ago quarter’s level of $3.39 billion.
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CMS Energy Q3 Earnings Beat Estimates, Revenues Increase Y/Y
Key Takeaways
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2025 earnings per share (EPS) of 93 cents, which beat the Zacks Consensus Estimate of 86 cents by 8.1%. The bottom line also increased 10.7% from 84 cents in the prior-year quarter.
The company reported GAAP earnings of 92 cents per share, up from 84 cents recorded in the year-ago quarter.
CMS' Revenues
Operating revenues totaled $2.02 billion, which beat the Zacks Consensus Estimate of $1.82 billion by 11.2%. The top line also increased 16.1% from $1.74 billion in the prior-year quarter.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS Energy Corporation price-consensus-eps-surprise-chart | CMS Energy Corporation Quote
Operational Performance of CMS
CMS' operating expenses amounted to $1.54 billion, up 11.9% from the year-ago quarter’s figure.
Operating income was $481 million, higher than the year-ago quarter’s figure of $367 million.
Interest charges totaled $203 million, up 14% from that recorded a year ago.
Financial Condition of CMS
CMS Energy had cash and cash equivalents of $362 million as of Sept. 30, 2025, compared with $103 million as of Dec. 31, 2024.
As of Sept. 30, 2025, total debt and financial leases (excluding securitization debt) were $17.47 billion compared with $15.87 billion as of Dec. 31, 2024.
The net cash flow from operating activities was $1.76 billion during the first nine months of 2025 compared with $1.97 billion in the prior-year period.
CMS' 2025 Guidance
The company raised its 2025 adjusted earnings guidance to $3.56-$3.60 per share from $3.54-$3.60. The Zacks Consensus Estimate for 2025 earnings is currently pegged at $3.59, which is just higher than the midpoint of the company’s newly guided range.
The company also initiated 2026 adjusted earnings guidance of $3.80-$3.87 per share. The Zacks Consensus Estimate for 2026 EPS is currently pegged at $3.86, which is close to the higher-end of the company’s guided range.
CMS also reaffirmed its long-term adjusted EPS growth in the band of 6-8%.
CMS’ Zacks Rank
CMS Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2025 adjusted earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.04 by nearly 8.7%. The bottom line was also up nearly 9.7% year over year.
In the third quarter, NextEra Energy’s operating revenues totaled $7.96 billion, which missed the Zacks Consensus Estimate of $8.11 billion by 1.86%. However, the top line improved 5.3% year over year.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2025 adjusted earnings of 50 cents per share, which surpassed the Zacks Consensus Estimate of 46 cents by 8.7%. The bottom line also increased 61.3% from the year-ago quarter’s figure of 31 cents.
CNP generated revenues of $1.99 billion, which beat the Zacks Consensus Estimate by 0.5%. The top line also came in 7.1% higher than the year-ago quarter’s reported figure of $1.86 billion.
Entergy Corporation (ETR - Free Report) reported third-quarter 2025 earnings of $1.53 per share, which surpassed the Zacks Consensus Estimate of $1.46 by 4.8%. The bottom line also improved 2% from the year-ago quarter’s figure of $1.50.
Entergy reported revenues of $3.81 billion, which beat the Zacks Consensus Estimate of $3.51 billion by 8.6%. The top line also inched up 12.4% from the year-ago quarter’s level of $3.39 billion.