CMS Energy Corporation · CMS · Next earnings

CMS Energy Corporation reports Thursday, Feb 4, 2027

CMS reports before market open with consensus EPS at $1.00 and revenue at $2.30B. Last quarter: CMS Energy Maintains Guidance as Load Growth and Restructuring Advance

Reports Before market open91 days awayDate estimated Utilities

What the street expects

Consensus for the coming report
Consensus EPS $1.00 Calendar consensus
Consensus revenue $2.30B Calendar consensus
Report date Feb 4, 2027 Thursday, date estimated
Session Before market open 91 days away

Where CMS left off: FY2026 Q3

Full report

CMS Energy Maintains Guidance as Load Growth and Restructuring Advance

EPS surprise +6.7% Reported $1.44 vs $1.35
Revenue surprise -2.2% Reported $2.18B vs $2.23B
Stock move -0.8% Event window
Subsequent drift 0.0% Up to 20 sessions

Management maintained 2026 and 2027 EPS guidance and said it is targeting the high end of its 6%-8% annual adjusted EPS growth range.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Weather variability and storm activity could affect operations and O&M costs.
  • Regulatory and political uncertainty could affect Michigan rate cases and policy.
  • Execution risk remains around NorthStar asset sales and retained-asset integration.
  • Approximately $625 million of debt maturities next year increase financing considerations.

Questions analysts left open

  • Durability and upside potential of the FCM revenue stream.
  • Impact of elections on policy, data-center approvals, and rate-case outcomes.
  • Timing of NorthStar asset sales and associated funding benefits.
  • Potential for higher equity ratios in the electric rate case.

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Recent CMS quarters

All CMS earnings
-0.8%FY2026 Q3+0.1%FY2026 Q2-0.2%FY2026 Q1+1.3%FY2025 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.