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CMS Energy

CMS · Utilities

Last earnings Oct 27, 2026

Key results

EPSquarter

$0.92

30, 2025 – CMS Energy announced today reported earnings per share of $0.92 for the third quarter of 2025, compared to $0.84 per share for 2024.

SEC original ↗CMS Energy — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Conflicting figures recorded for this item — see “Conflicting figures” below.

The company’s adjusted earnings per share for the third quarter were $0.93, compared to $0.84 per share for the same quarter in 2024.

SEC original ↗CMS Energy — Earnings release (8-K exhibit)EX-99Oct 30, 2025

EPSytd

$2.66

The company’s adjusted earnings per share on a year-to-date basis were $2.66 in 2025, compared to $2.47 in 2024, largely due to constructive regulatory outcomes and favorable weather.

SEC original ↗CMS Energy — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Conflicting figures recorded for this item — see “Conflicting figures” below.

AI analysis

Q3 2025 · reported Oct 30, 2025

Based on: Earnings release + Q3 2025 deck + parent 8-K — transcript not held

EPS · Q3 2025
$0.92
-62.8% vs year ago computed from stated figures
EX-99 · Oct 30, 2025

The quarter in charts

Diluted EPS — GAAP

Per diluted share, as stated

0123$2.47Same quarter last year$0.92Q3 2025 (quarter)

EX-99 · Oct 30, 2025 EPS values as stated in the release.

Headline figures

MetricQ3 2025Prior qtrYear ago
EPS$0.92—$2.47

EX-99 · Oct 30, 2025

Guidance · company-stated

Direction: Raised

Company outlook

“CMS Energy raised its 2025 adjusted earnings guidance to $3.56 to $3.60 per share from $3.54 to $3.60 per share* (*See below for important information about non-GAAP measures).”

EPS

“The company also initiated 2026 adjusted earnings guidance of $3.80 to $3.87 per share and reaffirmed its long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

EPS6%
Growth dividend6%
Dividend6%

Over two decades of industry - leading financial performance Industry - leading c lean e nergy commitments Excellence through the Top - tier regulatory jurisdiction a with attractive growth Premium total shareholder r eturn 6% to 8% adjusted EPS growth + ~3% dividend yield Presentation endnotes are included at the end of the presentation.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

CMS Energy Announces Strong Third Quarter Results, Raises 2025 Adjusted EPS, Initiates 2026 Guidance

Based on: Earnings release + Q3 2025 deck + parent 8-K — transcript not held

Guidance & outlook

Direction: Raised

Company outlook: “CMS Energy raised its 2025 adjusted earnings guidance to $3.56 to $3.60 per share from $3.54 to $3.60 per share* (*See below for important information about non-GAAP measures).”

EPS: “The company also initiated 2026 adjusted earnings guidance of $3.80 to $3.87 per share and reaffirmed its long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.”

EPS — Raised (“Raises”)
“htm EXHIBIT 99.1 Exhibit 99.1 CMS Energy Announces Strong Third Quarter Results, Raises 2025 Adjusted EPS, Initiates 2026 Guidance JACKSON, Mich.”

Company outlook — Raised (“raised”)
“CMS Energy raised its 2025 adjusted earnings guidance to $3.56 to $3.60 per share from $3.54 to $3.60 per share* (*See below for important information about non-GAAP measures).”

EPS — Reiterated (“reaffirmed”)
“The company also initiated 2026 adjusted earnings guidance of $3.80 to $3.87 per share and reaffirmed its long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.”

Classified from the release's primary full-year outlook statement.

Capital allocation

Over two decades of industry - leading financial performance Industry - leading c lean e nergy commitments Excellence through the Top - tier regulatory jurisdiction a with attractive growth Premium total shareholder r eturn 6% to 8% adjusted EPS growth + ~3% dividend yield Presentation endnotes are included at the end of the presentation.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

Conflicting figures recorded for this item — see “Conflicting figures” below.

2024 with confidence in the full year Adjusted EPS Guidance Annual Dividend Per Share $3.56 $3.60 $2.11 Toward the high end Up 11 Adjusted EPS Guidance $3.80 $3.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

87 Toward the high end Adjusted EPS Growth Dividend Payout Ratio Utility Capital Plan ($B) a +6% to +8% ~60% payout over time $ 20 Toward the high end Consistent DPS growth To be updated on Q4 call Presentation endnotes are included at the end of the presentation.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

2025 S&P Moody s Fitch x Forward - looking recovery x Constructive rate construct x Strong operating cash flow generation x 100% fixed rate debt x Hybrid debt (w/ equity credit) x Limited near - term maturities Key Strengths A A - 2 Stable BBB BBB - Stable Sept .

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

11 YTD Plan ($M) ($M) Consumers Energy: $1,125 $1,125 First Mortgage Bonds CMS Energy: $1,000 $1,270 New Debt Issuances $500 Up to $500 Planned Equity (Issued) Retirements (incl.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025+ Recession Adjusted EPS Dividend +6% to +8% Weather Help Hurt Cold winter Mild summer Warm winter Hot summer Mild summer Cold winter Polar vortex Mild summer Warm winter Hot summer Hot summer Summer - less Storms Hot summer Storms Hot summer Warm winter Warm winter Mild winter Governor (D) Governor (R) Governor (D) Commission (D) Commission (D) Commission (R) Commission (I) Commission (D) Dave Joos John Russell Patti Poppe K.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

Strategy & priorities

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.

SEC original ↗CMS Energy — Earnings release (8-K exhibit)EX-99Oct 30, 2025

** Includes restructuring costs and business optimization initiative.

SEC original ↗CMS Energy — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Adjustments could include items such as disc ont inued operations, asset sales, impairments, restructuring costs, business optimization initiative, major enterprise resource planning software implementatio ns, changes in accounting principles, voluntary separation program, changes in federal and state tax policy, regulatory items from prior years, unrealized gains or lo sses from mark - to - market adjustments, recognized in net income related to NorthStar Clean Energy's interest expense, or other items.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

**Includes restructuring costs and business optimization initiative.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

Risks & headwinds

" The forward-looking statements are subject to risks and uncertainties that could cause CMS Energy's and Consumers Energy's results to differ materially.

SEC original ↗CMS Energy — Earnings release (8-K exhibit)EX-99Oct 30, 2025

The forward - looking statements are subject to risks and uncertainties.

SEC original ↗CMS Energy — Presentation / slide deck (8-K exhibit)EX-99Oct 30, 2025

Conflicting figures

EPS

$0.92

“30, 2025 – CMS Energy announced today reported earnings per share of $0.92 for the third quarter of 2025, compared to $0.84 per share for 2024.”

$2.66

“The company’s adjusted earnings per share on a year-to-date basis were $2.66 in 2025, compared to $2.47 in 2024, largely due to constructive regulatory outcomes and favorable weather.”

6%

“Over two decades of industry - leading financial performance Industry - leading c lean e nergy commitments Excellence through the Top - tier regulatory jurisdiction a with attractive growth Premium total shareholder r eturn 6% to 8% adjusted EPS growth + ~3% dividend yield Presentation endnotes are included at the end of the presentation.”

Documents

Earnings deck slides

1 deck with slide view

CMS Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

CMS Energy — Presentation / slide deck (8-K exhibit) — Slide view unavailable — this deck was filed as a web document, whose text has no page boundaries.

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Fortis (FTS) UtilitiesAmerican Water Works (AWK) UtilitiesFirstEnergy (FE) UtilitiesEdison International (EIX) UtilitiesDuke Energy (DUK) UtilitiesPublic Service Enterprise Group (PEG) UtilitiesConstellation Energy (CEG) UtilitiesWEC Energy Group (WEC) Utilities

Filings

31 documents

Earnings releases

18 documents

Presentations

3 documents

Transcripts

0 documents

No transcripts for CMS Energy are held in this edition of the library.

Mentioned by

23 companies

Other tracked companies whose held documents mention CMS Energy by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.