CMS Energy Q2 2026: EPS $0.37, guidance reaffirmed as NorthStar exits
CMS Energy's second quarter was a step backwards: revenue of $1.808 billion slipped 1.6% and diluted EPS fell to $0.37 from $0.66 a year ago. The adjusted figure of $0.37 still beat the $0.364 consensus, and management reaffirmed 2026 guidance of $3.83 to $3.90. Read this as a cost-and-interest quarter for a regulated utility, not a broken trajectory — but there is very little slack in the numbers.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $0.37 matched the adjusted figure and came in about 1.6% above the $0.364 consensus. But it fell from $0.66 reported and $0.71 adjusted a year ago, with net income dropping to $120 million from $201 million — a 40.3% decline. Higher operating expenses ($1.565 billion versus $1.521 billion) and lower other income ($75 million versus $137 million) explain most of the gap.
Revenue was $1.808 billion, down 1.6% from $1.838 billion in the same quarter last year. The mix barely moved: electric contributed $1.333 billion, gas $0.386 billion and NorthStar Clean Energy $0.089 billion. Note the seasonality — Q1 revenue was $2.675 billion — so quarter-to-quarter comparisons here tell you almost nothing.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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