CMS Energy Q3 adjusted EPS beats estimates

Overview

• US energy provider's Q3 revenue missed analyst expectations

• Adjusted EPS for Q3 beat analyst expectations

• Q3 GAAP EPS declined due to NorthStar Clean Energy asset impairment and restructuring

Outlook

• CMS Energy reaffirms 2026 adjusted EPS guidance of $3.83 to $3.90

• Company maintains 2027 adjusted EPS guidance of $4.08 to $4.17

• CMS Energy continues to target long-term adjusted EPS growth of 6% to 8%

Result Drivers

• ASSET IMPAIRMENT & RESTRUCTURING - Co said GAAP results were affected by asset impairment and restructuring at NorthStar Clean Energy

• RESTRUCTURING IMPACT - CEO said NorthStar Clean Energy restructuring strengthens utility focus and earnings quality

• REVENUE GROWTH - Co reported higher Q3 operating revenue year-over-year

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the multiline utilities peer group is "buy"

• Wall Street's median 12-month price target for CMS Energy Corporation is $76.50, about 9.9% above its October 26 closing price of $69.59

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 19 three months ago

Reuters Recommended Reads

• Oct 27 - CenterPoint Energy Q3 adjusted EPS beats estimates, raises 2026 outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)