CMS Energy Q1 adj. EPS $1.13 beats $1.02 prior year; reaffirms 2026 guidance $3.83-$3.90

CONSUMERS ENERGY CO

Q1 2026 reported EPS $1.10, adj. EPS $1.13 vs $1.02 in Q1 2025.
Reaffirmed 2026 adj. EPS guidance $3.83-$3.90; long-term 6-8% growth.
Utility capital plan raised to $24B (2026-2030), up $4B from prior plan.
Recent MI electric rate order $217M approved at 9.90% ROE (~66% of ask).
Economic development pipeline ~9GW includes data centers, semiconductors.

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