CMS Energy Q3 2026: adjusted EPS $1.44 beats as $456 million charge hits GAAP
CMS Energy beat on the number management steers by and reaffirmed everything, while GAAP profit was gutted by a NorthStar Clean Energy write-down. Adjusted EPS of $1.44 topped the $1.36 consensus, revenue rose 7.4%, and 2026 guidance of $3.83–$3.90 held. Read the gap between $0.39 reported and $1.44 adjusted as the whole story here.
1 · Expected vs. Actual
Free preview belowAdjusted EPS of $1.44 beat the $1.36 consensus by 5.8% and rose from $0.93 a year earlier, which is the cleanest read on the quarter. GAAP EPS of $0.39, down from $0.92, absorbed $456 million of asset impairment and restructuring, worth $1.45 a share before a $0.37 tax benefit. Net income fell to $121 million from $277 million.
Revenue of $2.17 billion was up 7.4% from $2.02 billion a year earlier, and essentially all of it — $2.03 billion — came from Utility Service. Other Utility Service added just $138 million. That is healthy growth for a regulated utility, but it did not carry through to the bottom line this quarter.
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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 2026-11-03
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