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CMS Energy Q2 Earnings Match Estimates, Revenues Decrease Y/Y
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Key Takeaways
CMS Energy's adjusted EPS fell 47.9% to 37 cents, matching the consensus estimate.
Revenues declined 0.5% to $1.83 billion, missing the consensus estimate by 4.2%.
CMS reaffirmed 2026 EPS guidance and introduced a 2027 range of $4.08-$4.17.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2026 adjusted earnings per share (EPS) of 37 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 47.9% from 71 cents in the year-ago quarter.
CMS' Revenues
Operating revenues totaled $1.83 billion, which missed the Zacks Consensus Estimate of $1.91 billion by 4.2%. The top line also fell 0.5% from $1.84 billion in the prior-year quarter.
Gas utility revenues and NorthStar Clean Energy revenues improved, while electric utility revenues decreased.
CMS Energy Corporation Price, Consensus and EPS Surprise
CMS' operating expenses amounted to $1.57 billion, up 2.9% from the year-ago quarter’s figure.
Operating income was $264 million, lower than the year-ago quarter’s figure of $317 million.
Interest on long-term debt rose to $211 million.
Financial Condition of CMS
CMS Energy had cash and cash equivalents of $241 million as of June 30, 2026 compared with $509 million as of Dec. 31, 2025.
As of June 30, 2026, total debt and financial leases (excluding securitization debt) were $18.78 billion compared with $18.31 billion as of Dec. 31, 2025.
The net cash flow from operating activities was $1.33 billion during the first six months of 2026 compared with $1.41 billion in the prior-year period.
CMS' 2026 Guidance
CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83-$3.90 per share. The Zacks Consensus Estimate for 2026 earnings is currently pegged at $3.87, higher than the midpoint of the company’s guided range.
The company introduced 2027 adjusted earnings guidance of $4.08-$4.17 per share. The Zacks Consensus Estimate for 2027 earnings is currently pegged at $4.16, which is at the high end of the company’s guided range.
CMS also reaffirmed its long-term adjusted EPS growth in the band of 6-8%.
Ameren Corporation (AEE - Free Report) is scheduled to report its second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.08 per share, which suggests a year-over-year increase of 6.9%.
AEE’s long-term (three to five years) earnings growth rate is 7.68%. The Zacks Consensus Estimate for second-quarter sales is pinned at $2.40 billion, which implies a year-over-year rise of 8.3%.
Alliant Energy Corporation (LNT - Free Report) is slated to report second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for earnings is pegged at 66 cents per share.
LNT’s long-term earnings growth rate is 7.86%. The Zacks Consensus Estimate for second-quarter sales stands at $1 billion, which calls for year-over-year growth of 4.3%.
Public Service Enterprise Group (PEG - Free Report) is slated to report second-quarter 2026 results on Aug. 4, before market open. The Zacks Consensus Estimate for earnings is pegged at 80 cents per share, which suggests a year-over-year increase of 3.9%.
PEG’s long-term earnings growth rate is 6.09%. The Zacks Consensus Estimate for second-quarter sales stands at $2.70 billion, which implies a year-over-year decline of 3.8%.
View the Zacks #1 Rank List
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CMS Energy Q2 Earnings Match Estimates, Revenues Decrease Y/Y
Key Takeaways
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2026 adjusted earnings per share (EPS) of 37 cents per share, which came in line with the Zacks Consensus Estimate. However, the bottom line declined 47.9% from 71 cents in the year-ago quarter.
CMS' Revenues
Operating revenues totaled $1.83 billion, which missed the Zacks Consensus Estimate of $1.91 billion by 4.2%. The top line also fell 0.5% from $1.84 billion in the prior-year quarter.
Gas utility revenues and NorthStar Clean Energy revenues improved, while electric utility revenues decreased.
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 $1.57 billion, up 2.9% from the year-ago quarter’s figure.
Operating income was $264 million, lower than the year-ago quarter’s figure of $317 million.
Interest on long-term debt rose to $211 million.
Financial Condition of CMS
CMS Energy had cash and cash equivalents of $241 million as of June 30, 2026 compared with $509 million as of Dec. 31, 2025.
As of June 30, 2026, total debt and financial leases (excluding securitization debt) were $18.78 billion compared with $18.31 billion as of Dec. 31, 2025.
The net cash flow from operating activities was $1.33 billion during the first six months of 2026 compared with $1.41 billion in the prior-year period.
CMS' 2026 Guidance
CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83-$3.90 per share. The Zacks Consensus Estimate for 2026 earnings is currently pegged at $3.87, higher than the midpoint of the company’s guided range.
The company introduced 2027 adjusted earnings guidance of $4.08-$4.17 per share. The Zacks Consensus Estimate for 2027 earnings is currently pegged at $4.16, which is at the high 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.
Upcoming Utility Releases
Ameren Corporation (AEE - Free Report) is scheduled to report its second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.08 per share, which suggests a year-over-year increase of 6.9%.
AEE’s long-term (three to five years) earnings growth rate is 7.68%. The Zacks Consensus Estimate for second-quarter sales is pinned at $2.40 billion, which implies a year-over-year rise of 8.3%.
Alliant Energy Corporation (LNT - Free Report) is slated to report second-quarter 2026 results on July 30, after market close. The Zacks Consensus Estimate for earnings is pegged at 66 cents per share.
LNT’s long-term earnings growth rate is 7.86%. The Zacks Consensus Estimate for second-quarter sales stands at $1 billion, which calls for year-over-year growth of 4.3%.
Public Service Enterprise Group (PEG - Free Report) is slated to report second-quarter 2026 results on Aug. 4, before market open. The Zacks Consensus Estimate for earnings is pegged at 80 cents per share, which suggests a year-over-year increase of 3.9%.
PEG’s long-term earnings growth rate is 6.09%. The Zacks Consensus Estimate for second-quarter sales stands at $2.70 billion, which implies a year-over-year decline of 3.8%.