CMS Energy Q4 revenue and adjusted EPS beat expectations

Overview

• Michigan energy provider's Q4 2025 revenue beat analyst expectations

• Adjusted EPS for Q4 2025 beat analyst expectations

• Company raised 2026 adjusted EPS guidance and increased annual dividend

Outlook

• CMS Energy raises 2026 adjusted EPS guidance to $3.83-$3.90 per share

• Company reaffirms long-term adjusted EPS growth of 6-8%

• CMS Energy increases annual dividend by 11 cents to $2.28 for 2026

Result Drivers

• NORTHSTAR PERFORMANCE - Strong results at NorthStar Clean Energy contributed to exceeding adjusted EPS guidance

• REGULATORY OUTCOMES - Constructive regulatory outcomes supported overall performance, per CEO Garrick Rochow

• COST PERFORMANCE - Solid cost performance at the Utility aided financial results, according to CEO Garrick Rochow

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 Corp is $77.50, about 8.2% above its February 4 closing price of $71.60

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

Press Release: ID:nPn3XGPCva

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