CMS Energy Announces First Quarter Results for 2026, Reaffirms 2026 Adjusted EPS Guidance

CMS Energy Stock Price 29Jun2026 09:54 ET 78.33 -0.48 -0.61% Volume: 172,176 Media Contacts About Cultural ValuesLeadership Board of DirectorsOfficers Consumers Energy Electric BusinessNatural Gas Business NorthStar Clean Energy Investors Corporate OverviewEvents & PresentationsNews ReleasesGlossaryFinancial Information Annual ReportsProxy MaterialsQuarterly EarningsSupplemental Regulatory Filings CMS Energy SEC FilingsConsumers Energy SEC FilingsRate Case SummariesConsumers Securitization Funding LLCs Interactive Analyst CenterStock Information Analyst Coverage Investor Resources Contact IR & Email ContactsInformation RequestReceive Email AlertsOnline Investor Kit Shareowner Services Stock Plan ProspectusTax InformationManage Your Account OnlineEquiniti Trust CompanyShareowner Contact InformationDirect Stock Purchase Plan Corporate Governance Our View on GovernanceDirectors Directors Details OfficersGovernance DocumentsContact the BoardCompliance & EthicsPolitical Engagement Sustainability Sustainability OverviewSASB Index For Consumers Energy – Electric Utilities & Power GenerationSASB Index For Consumers Energy – Gas Utilities & Distributors Careers Important Notes The information contained in this Machine-Readable File may be difficult to access without certain technology. 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The machine-readable files will be updated monthly to ensure accuracy of the data and reflect changes in pricing and regulatory requirements. I Understand CMS Energy Announces First Quarter Results for 2026, Reaffirms 2026 Adjusted EPS Guidance Apr 28, 2026 , /PRNewswire/ -- CMS Energy announced today reported earnings per share of $1.10 for the first quarter of 2026, compared to $1.01 per share for 2025. The company's adjusted earnings per share for the first quarter were $1.13, compared to $1.02 per share for 2025. CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83 to $3.90 per share (*See below for important information about non-GAAP measures) and long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end. "Strong execution in the first quarter has positioned us well for the year ahead," said Garrick Rochow, President and CEO of CMS Energy and Consumers Energy. "We're building momentum across our triple bottom line in support of customers, communities and investors." CMS Energy (NYSE: CMS) is a Michigan-based energy provider featuring Consumers Energy as its primary business. It also owns and operates independent power generation businesses. CMS Energy will hold a webcast to discuss its 2026 first quarter results and provide a business and financial outlook on Tuesday, April 28 at 10:00 a.m. (EDT). To participate in the webcast, go to CMS Energy's homepage (cmsenergy.com) and select "Events and Presentations." Important information for investors about non-GAAP measures and other disclosures. This news release contains non-Generally Accepted Accounting Principles (non-GAAP) measures, such as adjusted earnings. All references to net income refer to net income available to common stockholders and references to earnings per share are on a diluted basis. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, business optimization initiative, major enterprise resource planning software implementations, changes in accounting principles, voluntary separation program, changes in federal tax policy, regulatory items from prior years, unrealized gains or losses from mark-to-market adjustments, recognized in net income related to NorthStar Clean Energy's interest expense, or other items. Management views adjusted earnings as a key measure of the company's present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company's reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings. The company's adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for the reported earnings.  This news release contains "forward-looking statements." The forward-looking statements are subject to risks and uncertainties that could cause CMS Energy's and Consumers Energy's results to differ materially. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in CMS Energy's and Consumers Energy's Securities and Exchange Commission filings. Investors and others should note that CMS Energy routinely posts important information on its website and considers the Investor Relations section, www.cmsenergy.com/investor-relations, a channel of distribution. CMS ENERGY CORPORATION Consolidated Statements of Income (Unaudited) In Millions, Except Per Share Amounts Three Months Ended 3/31/26 3/31/25 Operating revenue $ 2,730 $ 2,447 Operating expenses 2,240 1,953 Operating Income 490 494 Other income 75 50 Interest charges 203 186 Income Before Income Taxes 362 358 Income tax expense 85 63 Net Income 277 295 Loss attributable to noncontrolling interests (63) (9) Net Income Attributable to CMS Energy 340 304 Preferred stock dividends 2 2 Net Income Available to Common Stockholders $ 338 $ 302 Diluted Earnings Per Average Common Share $ 1.10 $ 1.01 CMS ENERGY CORPORATION Summarized Consolidated Balance Sheets (Unaudited) In Millions As of 3/31/26 12/31/25 Assets Current assets Cash and cash equivalents $ 175 $ 509 Restricted cash and cash equivalents 88 106 Other current assets 2,762 2,857 Total current assets 3,025 3,472 Non-current assets Plant, property, and equipment 31,533 30,680 Other non-current assets 5,727 5,789 Total Assets $ 40,285 $ 39,941 Liabilities and Equity Current liabilities(1) $ 2,232 $ 2,592 Non-current liabilities(1) 8,924 8,740 Capitalization Debt and finance leases (excluding securitization debt)(2) 18,538 18,313 Preferred stock and securities 224 224 Noncontrolling interests 585 567 Common stockholders' equity 9,242 8,920 Total capitalization (excluding securitization debt) 28,589 28,024 Securitization debt(2) 540 585 Total Liabilities and Equity $ 40,285 $ 39,941 (1) Excludes debt and finance leases. (2) Includes current and non-current portions. CMS ENERGY CORPORATION Summarized Consolidated Statements of Cash Flows (Unaudited) In Millions Three Months Ended 3/31/26 3/31/25 Beginning of Period Cash and Cash Equivalents, Including Restricted Amounts $ 615 $ 178 Net cash provided by operating activities 705 1,000 Net cash used in investing activities (1,073) (918) Cash flows from operating and investing activities (368) 82 Net cash provided by financing activities 16 266 Total Cash Flows $ (352) $ 348 End of Period Cash and Cash Equivalents, Including Restricted Amounts $ 263 $ 526 CMS ENERGY CORPORATION Reconciliation of GAAP Net Income to Non-GAAP Adjusted Net Income (Unaudited) In Millions, Except Per Share Amounts Three Months Ended 3/31/26 3/31/25 Net Income Available to Common Stockholders $ 338 $ 302 Reconciling items: Other exclusions from adjusted earnings** 11 3 Tax impact (3) (1) Adjusted net income – non-GAAP $ 346 $ 304 Average Common Shares Outstanding - Diluted 307.1 299.1 Diluted Earnings Per Average Common Share Reported net income per share $ 1.10 $ 1.01 Reconciling items: Other exclusions from adjusted earnings** 0.04 0.01 Tax impact (0.01) (*) Adjusted net income per share – non-GAAP $ 1.13 $ 1.02 * Less than $0.5 million or $0.01 per share. ** Includes major enterprise resource planning software implementations and unrealized gains or losses from mark-to-market adjustments, recognized in net income related to NorthStar Clean Energy's interest expense. Management views adjusted (non-Generally Accepted Accounting Principles) earnings as a key measure of the Company's present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the Company uses adjusted earnings to measure and assess performance. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, business optimization initiative, major enterprise resource planning software implementations, changes in accounting principles, voluntary separation program, changes in federal and state tax policy, regulatory items from prior years, unrealized gains or losses from mark-to-market adjustments, recognized in net income related to NorthStar Clean Energy's interest expense, or other items. The adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for reported earnings.  View original content to download multimedia:https://www.prnewswire.com/news-releases/cms-energy-announces-first-quarter-results-for-2026-reaffirms-2026-adjusted-eps-guidance-302754897.html SOURCE CMS Energy