Earnings summaries and quarterly performance for CMS ENERGY.
Executive leadership at CMS ENERGY.
Garrick Rochow
Detailed
President and Chief Executive Officer
CEO
BH
Brandon Hofmeister
Detailed
Senior Vice President, Sustainability and External Affairs
LW
LeeRoy Wells Jr.
Detailed
Senior Vice President, Operations
RH
Rejji Hayes
Detailed
Executive Vice President and Chief Financial Officer
SJ
Shaun Johnson
Detailed
General Counsel and Senior Vice President, Business Optimization
Board of directors at CMS ENERGY.
Research analysts who have asked questions during CMS ENERGY earnings calls.
AW
Andrew Weisel
Scotiabank
7 questions for CMS
Also covers: AEP, BKH, CEG +13 more
JT
Jeremy Tonet
JPMorgan Chase & Co.
7 questions for CMS
Also covers: AEE, AEP, AM +45 more
Julien Dumoulin-Smith
Jefferies
7 questions for CMS
Also covers: AEE, AEP, AES +55 more
TM
Travis Miller
Morningstar
5 questions for CMS
Also covers: DTE, ES, ETR +10 more
Nicholas Campanella
Barclays
4 questions for CMS
Also covers: AEE, AEP, AES +32 more
AC
Anthony Crowdell
Mizuho Financial Group
3 questions for CMS
Also covers: AEE, AEP, AES +30 more
DA
David Arcaro
Morgan Stanley
3 questions for CMS
Also covers: AEP, AES, ATO +32 more
SP
Shahriar Pourreza
Guggenheim Partners
3 questions for CMS
Also covers: AEE, AEP, AVA +29 more
C
Chariza
Wells Fargo & Company
2 questions for CMS
DC
Durgesh Chopra
Evercore ISI
2 questions for CMS
Also covers: AEE, AEP, AES +22 more
MP
Marcella Putterman
Wells Fargo Securities
2 questions for CMS
MS
Michael Sullivan
Wolfe
2 questions for CMS
Also covers: AGR, NEP, WEC
William Appicelli
UBS
2 questions for CMS
Also covers: AEE, AEP, DTE +10 more
Angie Storozynski
Seaport Research Partners
1 question for CMS
Also covers: AGR, AWK, CEG +8 more
GO
Gregg Orrill
UBS Group AG
1 question for CMS
Also covers: AWK, EIX, PCG +4 more
JD
Julianna Dumlao-Smith
Jefferies
1 question for CMS
RC
Ross Carlo
Bank of America
1 question for CMS
SK
Sophie Karp
KeyBanc Capital Markets Inc.
1 question for CMS
Also covers: AGR, AVA, CEG +12 more
Recent press releases and 8-K filings for CMS.
CMS Energy reports Q4 2025 results
CMS
Earnings
Guidance Update
New Projects/Investments
- 2025 adjusted EPS of $3.61 (+8% YoY); 2026 EPS guidance raised to $3.83–$3.90 (6%–8% growth)
- 5-year utility investment plan increased to $24 billion (+$4 billion), supporting 10.5% rate-base CAGR through 2030
- Approval of 20-year renewable energy plan enabling $14 billion of customer investments over next decade
- Large Load Tariff approved to facilitate data center growth, with first center expected online by 2028
- $3.8 billion of 2025 utility CapEx funded via operating cash flow; targeting ~55% dividend payout and $700 million equity issuance in 2026
1 day ago
CMS Energy reports Q4 2025 results
CMS
Earnings
Guidance Update
Dividends
- CMS Energy delivered Q4 2025 adjusted EPS of $3.61, up from $3.34 in Q4 2024.
- For full year 2025, adjusted EPS was $3.61, exceeding guidance and growing >8% year-over-year.
- The board increased the annual dividend to $2.28 per share, marking the 20th consecutive annual raise.
- 2026 guidance includes adjusted EPS of $3.83–$3.90 and a maintained dividend of $2.28 per share.
1 day ago
CMS Energy reports strong Q4 2025 results and raises 2026 guidance
CMS
Earnings
Guidance Update
New Projects/Investments
- CMS Energy delivered 2025 adjusted EPS of $3.61, up over 8% year-over-year and above guidance; 2026 EPS guidance has been raised by $0.03 to $3.83–$3.90, reflecting 6%–8% growth with confidence toward the high end.
- Announced a 5-year, $24 billion utility customer investment plan (up $4 billion), driving ~10.5% rate base CAGR through 2030; plans to fund via $1.7 billion of utility debt and $700 million of ATM equity issuance in 2026.
- Maintains its dividend growth strategy, targeting a ~55% payout ratio over the five-year plan (60% in 2026) while preserving mid-teens credit metrics.
- Secured key regulatory approvals: a November Large Load Tariff, a 20-year renewable energy plan unlocking $14 billion of customer investments, plus storm deferral and PPA incentive mechanisms, underscoring Michigan’s constructive energy regulatory framework.
- Emphasized affordability efforts: self-generation hedges saved customers $250 million in 2025, the energy waste reduction program will yield $1.2 billion in savings, and residential natural gas rates remain 28% below the national average.
1 day ago
CMS Energy delivers 2025 earnings and raises 2026 guidance
CMS
Earnings
Guidance Update
New Projects/Investments
- Delivered 2025 adjusted EPS of $3.61, up over 8% from 2024, and raised 2026 EPS guidance to $3.83–$3.90 per share, targeting the high end of 6–8% growth.
- Launched a 5-year $24 billion utility investment plan (up $4 billion), including ~$2.5 billion in generation, $1.2 billion in distribution reliability and $0.4 billion in gas, supporting 10.5% rate base CAGR through 2030.
- Secured key regulatory approvals: a 20-year renewable energy plan unlocking ~$14 billion of solar and wind investments, and a large load tariff to underpin data center growth.
- Advanced data center pipeline with one site’s rate agreement near final and expected to be operational by 2028, alongside talks with additional data center and manufacturing customers.
1 day ago
CMS Energy increases quarterly dividend to 57 cents per share
CMS
Dividends
- The Board of Directors raised the quarterly dividend on common stock to $0.57 per share, up from $0.5425, representing an annualized yield of 3.2% at a closing price of $71.60.
- The first-quarter dividend is payable Feb. 27, 2026, to shareholders of record on Feb. 17, 2026.
- CEO Garrick Rochow said the increase, which equates to an annualized $2.28 per share, reflects strong strategic execution.
- CMS Energy, headquartered in Michigan, operates Consumers Energy and independent power generation businesses.
2 days ago
CMS Energy Exceeds 2025 Earnings Guidance and Raises 2026 EPS Outlook
CMS
Earnings
Guidance Update
Dividends
- CMS Energy reported 2025 EPS of $3.53, up from $3.33 in 2024, and adjusted EPS of $3.61, versus $3.34 a year earlier, driven by outperformance at NorthStar Clean Energy.
- The company raised its 2026 adjusted EPS guidance to $3.83–$3.90 (from $3.80–$3.87) and reaffirmed long-term adjusted EPS growth of 6–8%, targeting the high end of the range.
- CMS Energy increased its annual dividend by $0.11 to $2.28 for 2026, marking its 20th consecutive annual dividend increase.
- Management cited constructive regulatory outcomes, solid Utility cost performance, and strong NorthStar results as key contributors to 2025’s success.
2 days ago
CMS Energy defends customer protections for data centers
CMS
Legal Proceedings
New Projects/Investments
- CMS Energy opposes Attorney General Dana Nessel’s petition for an MPSC rehearing of its Nov. 6 order that set new safeguards for energy-intensive businesses, arguing the challenge “has no merit”.
- The MPSC order imposes a 100 MW minimum threshold for data centers and large-load users to pay tariffs covering their full cost of service and a share of system fixed costs, with only one existing customer exceeding 100 MW.
- CMS Energy asserts new large customers will help reduce costs for its nearly 2 million served homes and businesses by contributing to fixed costs otherwise borne by all customers.
- The company plans to file an updated Energy Supply Plan in 2026 to secure natural gas, renewable resources, and battery storage for projected business growth.
Dec 11, 2025, 7:26 PM
CMS Energy announces indenture for 3.125% convertible notes due 2031
CMS
Debt Issuance
- On November 6, 2025, CMS Energy and The Bank of New York Mellon, as trustee, executed an indenture establishing 3.125% convertible senior notes due May 1, 2031.
- The indenture permits issuance of up to $1.0 billion aggregate principal amount of the notes.
- The notes bear interest at 3.125% per annum, payable semi-annually on May 1 and November 1 (beginning May 1, 2026), and include customary conversion provisions into common stock.
Nov 6, 2025, 4:23 PM
CMS Energy prices upsized $850 M convertible notes due 2031
CMS
Debt Issuance
- CMS Energy Corporation priced an upsized offering of $850 million aggregate principal amount of 3.125% convertible senior notes due May 1, 2031, with a $150 million overallotment option.
- Net proceeds are expected to be approximately $839.3 million (or $987.7 million if the option is exercised) and will be used to retire $250 million of 3.60% Senior Notes due November 15, 2025, with remaining proceeds for general corporate purposes.
- The notes bear interest at 3.125% per annum, payable semiannually, and will be convertible into 11.0360 shares of common stock per $1,000 principal amount (initial conversion price approx. $90.61 per share), subject to adjustment.
- The notes are non-redeemable until May 7, 2029; thereafter, CMS Energy may redeem notes if the stock trades at or above 130% of the conversion price for 20 of 30 trading days.
Nov 4, 2025, 11:38 AM
CMS Energy prices $850 million convertible notes offering
CMS
Debt Issuance
- CMS Energy priced $850 million aggregate principal amount of 3.125% convertible senior notes due 2031, upsized from $750 million with an option for an additional $150 million, expected to close on November 6, 2025.
- Net proceeds are expected to be approximately $839.3 million (or $987.7 million if the option is fully exercised) to retire $250 million of 3.60% Senior Notes due 2025 and for general corporate purposes.
- The notes are senior unsecured obligations bearing 3.125% interest, payable semiannually on May 1 and November 1, maturing on May 1, 2031.
- The initial conversion rate is 11.0360 shares per $1,000 principal (approximately $90.61 per share), representing a 25% premium to the last reported sale price on November 3, 2025.
Nov 4, 2025, 11:25 AM
Quarterly earnings call transcripts for CMS ENERGY.
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