CMS Energy forecasts 2027 profit below estimates, exits non-utility renewables business
CMS•Key forecast and quarterly results
- The utility expects 2027 adjusted earnings of $4.08 to $4.17 per share. The midpoint of $4.13 was below analysts' average estimate of $4.17, according to data compiled by LSEG.
- However, it narrowly beat estimates for second-quarter profit.
- The Jackson, Michigan-based company earned 37 cents per share on an adjusted basis in the second quarter, compared with analysts' estimates of 36 cents per share, according to LSEG data.
- The company's net income fell 40.3% to $120 million from $201 million a year ago.
- Total quarterly operating expenses rose 2.6% to $1.56 billion from $1.52 billion a year earlier.
- The utility reaffirmed its full-year profit forecast in the range of $3.83 to $3.90 per share.
2027 forecast misses estimates as company shifts to regulated business
CMS Energy on Tuesday forecast 2027 adjusted earnings below Wall Street estimates and said it would exit non-utility renewables development, as the utility focuses on its regulated business while investing to meet growing electricity demand.
Utilities are investing billions of dollars to expand and modernize power grids as electricity demand surges, driven in part by the rapid buildout of data centers.
