CMS Energy Corporation (CMS) earnings on July 28, 2026

Before the market opens Q2 2026

More CMS Energy Corporation earnings

Prior outlook: Pessimistic Outcome: Missed

CMS Energy shares rose slightly after the company beat profit forecasts but missed sales targets, and announced it will exit renewable energy development.

CMS price around the earnings

74.37

Change: +0.1%

2026-07-28, 20:00 UTC

End of the measured window
71.99 73.45 74.91 76.37 74.27
Price series around the eventClosing price per minute from before the event to the end of the measured window.No trading (market closed)
July 28, 2026
  • Price: green if it ends above the starting price; red if it ends below
  • End of the measured window
  • Market open
  • No trading (market closed)
  • Starting price
Price series around the event

Prior thesis

Prior outlook: Pessimistic Outcome: Missed

Thesis published
Results released

100% historical beat rate (+4.1% avg) offset by Keybanc downgrade, negative trend strength, and price below support into BMO earnings.

Context analyzed before publication

Trend
Negative trend strength accelerating; contextual score collapsed from +34.9 to -59.1 over 7 days.

Analysts

Evidence

Analyst consensus
Buy
Consensus average (1-5)
2.38
Analysts covering the stock
13
Average price target
80.46
Lowest price target
66
Highest price target
87
Upside to price target
8.3%
Quarterly earnings growth
11.8%
Revenue growth
11.6%
Forward EPS
4.17
Trailing EPS
3.59
Analyst moves in the last 60 days
7
  • Strong buy: 3
  • Buy: 4
  • Hold: 8
  • Sell: 0
  • Strong sell: 1
Strong buy
3
Buy
4
Hold
8
Sell
0
Strong sell
1
  • July 23, 2026 · Keybanc: Downgrades rating (Overweight → Sector Weight)
  • July 22, 2026 · BMO Capital: Maintains rating (Outperform → Outperform)
  • July 20, 2026 · BMO Capital: Maintains rating (Outperform → Outperform)
  • July 16, 2026 · JP Morgan: Maintains rating (Overweight → Overweight)
  • July 14, 2026 · Barclays: Maintains rating (Overweight → Overweight)
  • June 4, 2026 · Jefferies: Downgrades rating (Buy → Hold)
  • June 4, 2026 · BMO Capital: Maintains rating (Outperform → Outperform)

News and sentiment

Evidence

Sentiment
Sentiment
Constructive
Mention volume
Low
Normalized volume
33%
News
Sources (5)

Technicals

Evidence

Average true range (ATR)
1.9%
Distance to 52-week high
-6.4%
14-day change (14d)
-2.0%
30-day change (31d)
-5.8%
30-day relative strength
-7.0%
SPY change (31d)
+1.3%
Nearest support
74.19
Nearest resistance
74.53
Volume accumulation ratio (14d / 46d)
1.08

Trends

Evidence

Average earnings surprise
+4.1%
  • April 28, 2026: actual EPS 1.13 vs estimate 1.1 (surprise +2.7%)
  • February 5, 2026: actual EPS 0.95 vs estimate 0.94 (surprise +1.5%)
  • October 30, 2025: actual EPS 0.93 vs estimate 0.86 (surprise +8.4%)
  • July 31, 2025: actual EPS 0.71 vs estimate 0.68 (surprise +3.9%)

Expected move

Implied move
+1.2%
Source
Options chain

Reactions over its last 20 earnings

Median move
1.2%
75th percentile move
1.7%
90th percentile move
2.7%
Up / down moves
15 / 5
Average up move
+1.3%
Average down move
-1.2%

Monitoring and close

What CMS Energy Corporation reported

Status
Finished
Actual EPS0.37
EPS estimate0.36
EPS surprise+2.8%
Revenue$1,829 million
Revenue estimate$1,908 million
Revenue surprise-4.1%

CMS Energy reports mixed Q2 results with in-line earnings but a revenue miss. The company reaffirms guidance and plans to exit non-utility renewables, an optimistic move.

Sources (13)

Pre-market second reading after the results

Verdict
Beat expectations

Heading into the open, the figures don't clearly confirm the prior scenario.

How the stock reacted

Outcome
Missed
Consolidated
+0.1%
Max favorable move (MFE)
0%
Max adverse move (MAE)
2.9%