CMS Energy Announces Strong Second Quarter Results, Reaffirms 2025 Adjusted EPS Guidance
CMS Energy (NYSE: CMS) reported strong Q2 2025 results with adjusted earnings per share of $0.71, up from $0.66 in Q2 2024. The company's reported EPS was $0.66, compared to $0.65 in the previous year. Year-to-date adjusted EPS reached $1.73, up from $1.63 in 2024, driven by favorable regulatory outcomes, cost reductions, and weather conditions.
The company reaffirmed its 2025 adjusted earnings guidance of $3.54-$3.60 per share and maintained its long-term adjusted EPS growth target of 6-8%. Notably, CMS Energy announced an agreement with a new data center expected to add up to 1 gigawatt of load growth in their service territory.
[ "Q2 2025 adjusted EPS increased 7.6% to $0.71 from $0.66 year-over-year", "YTD adjusted EPS grew 6.1% to $1.73 from $1.63", "Operating revenue increased 14.4% to $1.838B in Q2 2025", "New data center agreement to add up to 1 gigawatt of load growth", "Operating income improved 12% to $317M in Q2 2025", "Strong cash position with $844M in cash and equivalents, up from $103M at year-end 2024" ]CMS Energy (NYSE: CMS) ha riportato risultati solidi nel secondo trimestre del 2025, con un utile rettificato per azione di 0,71 $, in aumento rispetto a 0,66 $ nel secondo trimestre del 2024. L'utile per azione riportato è stato di 0,66 $, rispetto a 0,65 $ dell'anno precedente. L'utile rettificato per azione da inizio anno ha raggiunto 1,73 $, in crescita rispetto a 1,63 $ nel 2024, grazie a esiti regolatori favorevoli, riduzioni dei costi e condizioni meteorologiche favorevoli.
L'azienda ha confermato la sua previsione di utile rettificato per azione per il 2025 tra 3,54 e 3,60 $ e ha mantenuto l'obiettivo di crescita a lungo termine dell'utile rettificato per azione tra il 6 e l'8%. Di rilievo, CMS Energy ha annunciato un accordo con un nuovo centro dati che dovrebbe aggiungere fino a 1 gigawatt di crescita della domanda nel suo territorio di servizio.
- L'utile rettificato per azione del secondo trimestre 2025 è aumentato del 7,6%, passando da 0,66 $ a 0,71 $ su base annua
- L'utile rettificato per azione da inizio anno è cresciuto del 6,1%, raggiungendo 1,73 $ da 1,63 $
- I ricavi operativi sono aumentati del 14,4%, arrivando a 1,838 miliardi di dollari nel secondo trimestre 2025
- Accordo con un nuovo centro dati per aggiungere fino a 1 gigawatt di crescita della domanda
- L'utile operativo è migliorato del 12%, raggiungendo 317 milioni di dollari nel secondo trimestre 2025
- Posizione di cassa solida con 844 milioni di dollari in liquidità e equivalenti, in aumento rispetto ai 103 milioni di fine 2024
CMS Energy (NYSE: CMS) reportó sólidos resultados en el segundo trimestre de 2025, con ganancias ajustadas por acción de $0.71, frente a $0.66 en el segundo trimestre de 2024. Las ganancias por acción reportadas fueron de $0.66, comparadas con $0.65 del año anterior. Las ganancias ajustadas por acción acumuladas en el año alcanzaron $1.73, un aumento desde $1.63 en 2024, impulsadas por resultados regulatorios favorables, reducción de costos y condiciones climáticas favorables.
La compañía reafirmó su pronóstico de ganancias ajustadas para 2025 entre $3.54 y $3.60 por acción y mantuvo su objetivo de crecimiento a largo plazo de las ganancias ajustadas por acción entre 6% y 8%. Destaca que CMS Energy anunció un acuerdo con un nuevo centro de datos que se espera añada hasta 1 gigavatio de crecimiento de carga en su área de servicio.
- Las ganancias ajustadas por acción del segundo trimestre de 2025 aumentaron un 7.6%, de $0.66 a $0.71 interanual
- Las ganancias ajustadas por acción acumuladas en el año crecieron un 6.1%, alcanzando $1.73 desde $1.63
- Los ingresos operativos aumentaron un 14.4%, llegando a $1,838 millones en el segundo trimestre de 2025
- Acuerdo con nuevo centro de datos para añadir hasta 1 gigavatio de crecimiento de carga
- La utilidad operativa mejoró un 12%, alcanzando $317 millones en el segundo trimestre de 2025
- Posición de efectivo sólida con $844 millones en efectivo y equivalentes, frente a $103 millones al cierre de 2024
CMS Energy (NYSE: CMS)는 2025년 2분기에 강력한 실적을 보고했습니다. 조정 주당순이익은 0.71달러로 2024년 2분기의 0.66달러에서 상승했습니다. 보고된 주당순이익은 0.66달러로 전년의 0.65달러에 비해 소폭 증가했습니다. 연초부터 조정 주당순이익은 1.73달러에 달했으며, 이는 2024년의 1.63달러 대비 증가한 수치로, 유리한 규제 결과, 비용 절감 및 기상 조건이 주된 원인입니다.
회사는 2025년 조정 주당순이익 가이던스를 3.54~3.60달러로 재확인했으며, 장기 조정 주당순이익 성장 목표인 6~8%도 유지했습니다. 특히 CMS Energy는 서비스 지역 내에 최대 1기가와트의 부하 성장을 추가할 것으로 예상되는 새로운 데이터 센터와의 계약을 발표했습니다.
- 2025년 2분기 조정 주당순이익이 전년 대비 7.6% 증가하여 0.66달러에서 0.71달러로 상승
- 연초부터 조정 주당순이익이 6.1% 증가하여 1.63달러에서 1.73달러로 상승
- 2025년 2분기 영업수익은 14.4% 증가하여 18억 3,800만 달러 달성
- 최대 1기가와트 부하 성장을 위한 신규 데이터 센터 계약 체결
- 2025년 2분기 영업이익은 12% 증가하여 3억 1,700만 달러 기록
- 2024년 말 1억 300만 달러에서 증가한 8억 4,400만 달러의 강력한 현금 및 현금성 자산 보유
CMS Energy (NYSE: CMS) a publié de solides résultats pour le deuxième trimestre 2025, avec un bénéfice ajusté par action de 0,71 $, en hausse par rapport à 0,66 $ au deuxième trimestre 2024. Le BPA déclaré était de 0,66 $, contre 0,65 $ l'année précédente. Le BPA ajusté cumulé depuis le début de l'année a atteint 1,73 $, en progression par rapport à 1,63 $ en 2024, grâce à des résultats réglementaires favorables, des réductions de coûts et des conditions météorologiques favorables.
L'entreprise a réaffirmé ses prévisions de bénéfice ajusté pour 2025 entre 3,54 $ et 3,60 $ par action et maintenu son objectif de croissance à long terme du BPA ajusté entre 6 % et 8 %. Notamment, CMS Energy a annoncé un accord avec un nouveau centre de données qui devrait ajouter jusqu'à 1 gigawatt de croissance de charge dans sa zone de service.
- Le BPA ajusté du deuxième trimestre 2025 a augmenté de 7,6 % passant de 0,66 $ à 0,71 $ en glissement annuel
- Le BPA ajusté cumulé depuis le début de l'année a augmenté de 6,1 %, passant de 1,63 $ à 1,73 $
- Le chiffre d'affaires d'exploitation a augmenté de 14,4 % pour atteindre 1,838 milliard de dollars au deuxième trimestre 2025
- Accord avec un nouveau centre de données pour ajouter jusqu'à 1 gigawatt de croissance de charge
- Le résultat d'exploitation s'est amélioré de 12 % pour atteindre 317 millions de dollars au deuxième trimestre 2025
- Position de trésorerie solide avec 844 millions de dollars en liquidités et équivalents, contre 103 millions de dollars à la fin de 2024
CMS Energy (NYSE: CMS) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem bereinigten Gewinn je Aktie von 0,71 $, gegenüber 0,66 $ im zweiten Quartal 2024. Der ausgewiesene Gewinn je Aktie lag bei 0,66 $, verglichen mit 0,65 $ im Vorjahr. Der bereinigte Gewinn je Aktie seit Jahresbeginn erreichte 1,73 $, ein Anstieg von 1,63 $ im Jahr 2024, angetrieben durch günstige regulatorische Ergebnisse, Kostensenkungen und Wetterbedingungen.
Das Unternehmen bestätigte seine Prognose für den bereinigten Gewinn je Aktie 2025 von 3,54 bis 3,60 $ und hielt sein langfristiges Ziel für das Wachstum des bereinigten Gewinns je Aktie von 6-8 % aufrecht. Bemerkenswert ist, dass CMS Energy eine Vereinbarung mit einem neuen Rechenzentrum ankündigte, das voraussichtlich bis zu 1 Gigawatt Lastwachstum in ihrem Versorgungsgebiet hinzufügen wird.
- Der bereinigte Gewinn je Aktie im 2. Quartal 2025 stieg im Jahresvergleich um 7,6 % von 0,66 $ auf 0,71 $
- Der bereinigte Gewinn je Aktie seit Jahresbeginn wuchs um 6,1 % von 1,63 $ auf 1,73 $
- Der Betriebsumsatz stieg im 2. Quartal 2025 um 14,4 % auf 1,838 Mrd. $
- Neue Vereinbarung mit einem Rechenzentrum zur Steigerung des Lastwachstums um bis zu 1 Gigawatt
- Der Betriebsgewinn verbesserte sich im 2. Quartal 2025 um 12 % auf 317 Mio. $
- Starke Liquiditätsposition mit 844 Mio. $ in Barmitteln und Äquivalenten, gegenüber 103 Mio. $ Ende 2024
- None.
- Operating expenses increased 14.9% to $1.521B in Q2
- Interest charges rose 15% to $199M in Q2 2025
- Total debt and finance leases increased to $18.045B from $16.566B at year-end 2024
Insights
CMS Energy delivered strong Q2 results with 7.6% adjusted EPS growth, reaffirmed guidance, and secured a major data center contract.
CMS Energy has delivered another solid quarter with adjusted earnings of
The quarterly performance was primarily driven by three factors: constructive regulatory outcomes (indicating successful rate case implementations), cost-reduction initiatives (demonstrating operational efficiency improvements), and favorable weather conditions (which typically boost energy consumption in their service territory).
What's particularly noteworthy is the announcement of a new data center agreement that could add up to 1 gigawatt of load growth to their service territory. This represents a significant expansion opportunity for CMS, as data centers are high-margin, consistent energy consumers that provide stable, predictable revenue streams. For context, 1 gigawatt would represent a substantial addition to their generation capacity and customer load base.
The company's financial position remains strong with total assets of
Management's reaffirmation of the 2025 adjusted earnings guidance range of
CMS Energy reaffirmed its 2025 adjusted earnings guidance of
"Given the team's strong performance in the second quarter, we are on track to deliver on our earnings guidance and key operational objectives for the year, prioritizing investments in our electric and gas businesses to the benefit of our customers, investors and the communities we serve," said Garrick Rochow, President and CEO of CMS Energy and Consumers Energy. "I am also pleased to announce we have reached an agreement with a new data center, which is expected to add up to 1 gigawatt of load growth in our service territory, along with additional economic benefits for
CMS Energy (NYSE: CMS) is a
CMS Energy will hold a webcast to discuss its 2025 second quarter results and provide a business and financial outlook on Thursday, July 31 at 9:30 a.m. (EDT). To participate in the webcast, go to CMS Energy's homepage (cmsenergy.com) and select "Events and Presentations."
Important information for investors about non-GAAP measures and other disclosures.
This news release contains non-Generally Accepted Accounting Principles (non-GAAP) measures, such as adjusted earnings. All references to net income refer to net income available to common stockholders and references to earnings per share are on a diluted basis. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, business optimization initiative, major enterprise resource planning software implementations, changes in accounting principles, voluntary separation program, changes in federal and state tax policy, regulatory items from prior years, unrealized gains or losses from mark-to-market adjustments, recognized in net income related to NorthStar Clean Energy's interest expense, or other items. Management views adjusted earnings as a key measure of the company's present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the company uses adjusted earnings to measure and assess performance. Because the company is not able to estimate the impact of specific line items, which have the potential to significantly impact, favorably or unfavorably, the company's reported earnings in future periods, the company is not providing reported earnings guidance nor is it providing a reconciliation for the comparable future period earnings. The company's adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for the reported earnings.
This news release contains "forward-looking statements." The forward-looking statements are subject to risks and uncertainties that could cause CMS Energy's and Consumers Energy's results to differ materially. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in CMS Energy's and Consumers Energy's Securities and Exchange Commission filings.
Investors and others should note that CMS Energy routinely posts important information on its website and considers the Investor Relations section, www.cmsenergy.com/investor-relations, a channel of distribution.
CMS ENERGY CORPORATION | ||||||||||||
In Millions, Except Per Share Amounts | ||||||||||||
Three Months Ended | Six Months Ended | |||||||||||
6/30/25 | 6/30/24 | 6/30/25 | 6/30/24 | |||||||||
Operating revenue | $ | 1,838 | $ | 1,607 | $ | 4,285 | $ | 3,783 | ||||
Operating expenses | 1,521 | 1,324 | 3,474 | 3,088 | ||||||||
Operating Income | 317 | 283 | 811 | 695 | ||||||||
Other income | 137 | 113 | 187 | 199 | ||||||||
Interest charges | 199 | 173 | 385 | 350 | ||||||||
Income Before Income Taxes | 255 | 223 | 613 | 544 | ||||||||
Income tax expense | 62 | 41 | 125 | 99 | ||||||||
Net Income | 193 | 182 | 488 | 445 | ||||||||
Loss attributable to noncontrolling interests | (8) | (16) | (17) | (40) | ||||||||
Net Income Attributable to CMS Energy | 201 | 198 | 505 | 485 | ||||||||
Preferred stock dividends | 3 | 3 | 5 | 5 | ||||||||
Net Income Available to Common Stockholders | $ | 198 | $ | 195 | $ | 500 | $ | 480 | ||||
Diluted Earnings Per Average Common Share | $ | 0.66 | $ | 0.65 | $ | 1.67 | $ | 1.61 | ||||
CMS ENERGY CORPORATION | ||||||||
In Millions | ||||||||
As of | ||||||||
6/30/25 | 12/31/24 | |||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 844 | $ | 103 | ||||
Restricted cash and cash equivalents | 81 | 75 | ||||||
Other current assets | 2,268 | 2,612 | ||||||
Total current assets | 3,193 | 2,790 | ||||||
Non-current assets | ||||||||
Plant, property, and equipment | 28,847 | 27,461 | ||||||
Other non-current assets | 5,659 | 5,669 | ||||||
Total Assets | $ | 37,699 | $ | 35,920 | ||||
Liabilities and Equity | ||||||||
Current liabilities (1) | $ | 2,071 | $ | 2,261 | ||||
Non-current liabilities (1) | 8,612 | 8,345 | ||||||
Capitalization | ||||||||
Debt and finance leases (excluding securitization debt) (2) | 17,402 | 15,866 | ||||||
Preferred stock and securities | 224 | 224 | ||||||
Noncontrolling interests | 577 | 518 | ||||||
Common stockholders' equity | 8,170 | 8,006 | ||||||
Total capitalization (excluding securitization debt) | 26,373 | 24,614 | ||||||
Securitization debt (2) | 643 | 700 | ||||||
Total Liabilities and Equity | $ | 37,699 | $ | 35,920 | ||||
(1) Excludes debt and finance leases. | ||||||||
(2) Includes current and non-current portions. | ||||||||
CMS ENERGY CORPORATION | ||||||||
Summarized Consolidated Statements of Cash Flows | ||||||||
(Unaudited) | ||||||||
In Millions | ||||||||
Six Months Ended | ||||||||
6/30/25 | 6/30/24 | |||||||
Beginning of Period Cash and Cash Equivalents, Including Restricted Amounts | $ | 178 | $ | 248 | ||||
Net cash provided by operating activities | 1,414 | 1,663 | ||||||
Net cash used in investing activities | (1,880) | (1,246) | ||||||
Cash flows from operating and investing activities | (466) | 417 | ||||||
Net cash provided by financing activities | 1,213 | 124 | ||||||
Total Cash Flows | $ | 747 | $ | 541 | ||||
End of Period Cash and Cash Equivalents, Including Restricted Amounts | $ | 925 | $ | 789 | ||||
CMS ENERGY CORPORATION | ||||||||||||
In Millions, Except Per Share Amounts | ||||||||||||
Three Months Ended | Six Months Ended | |||||||||||
6/30/25 | 6/30/24 | 6/30/25 | 6/30/24 | |||||||||
Net Income Available to Common Stockholders | $ | 198 | $ | 195 | $ | 500 | $ | 480 | ||||
Reconciling items: | ||||||||||||
Other exclusions from adjusted earnings** | 5 | 2 | 8 | 6 | ||||||||
Tax impact | (1) | (*) | (2) | (1) | ||||||||
State tax policy change | 12 | - | 12 | - | ||||||||
Voluntary separation program | - | - | - | * | ||||||||
Tax impact | - | - | - | (*) | ||||||||
Adjusted net income – non-GAAP | $ | 214 | $ | 197 | $ | 518 | $ | 485 | ||||
Average Common Shares Outstanding - Diluted | 299.1 | 298.5 | 299.0 | 297.9 | ||||||||
Diluted Earnings Per Average Common Share | ||||||||||||
Reported net income per share | $ | 0.66 | $ | 0.65 | $ | 1.67 | $ | 1.61 | ||||
Reconciling items: | ||||||||||||
Other exclusions from adjusted earnings** | 0.01 | 0.01 | 0.02 | 0.02 | ||||||||
Tax impact | (*) | (*) | (*) | (*) | ||||||||
State tax policy change | 0.04 | - | 0.04 | - | ||||||||
Voluntary separation program | - | - | - | * | ||||||||
Tax impact | - | - | - | (*) | ||||||||
Adjusted net income per share – non-GAAP | $ | 0.71 | $ | 0.66 | $ | 1.73 | $ | 1.63 | ||||
* | Less than | |||||||||||
** | Includes restructuring costs and business optimization initiative. | |||||||||||
Management views adjusted (non-Generally Accepted Accounting Principles) earnings as a key measure of the Company's present operating financial performance and uses adjusted earnings for external communications with analysts and investors. Internally, the Company uses adjusted earnings to measure and assess performance. Adjustments could include items such as discontinued operations, asset sales, impairments, restructuring costs, business optimization initiative, major enterprise resource planning software implementations, changes in accounting principles, voluntary separation program, changes in federal and state tax policy, regulatory items from prior years, unrealized gains or losses from mark-to-market adjustments, recognized in net income related to NorthStar Clean Energy's interest expense, or other items. The adjusted earnings should be considered supplemental information to assist in understanding our business results, rather than as a substitute for reported earnings. |
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SOURCE CMS Energy
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