CMS Energy (CMS) official guidance

CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83 to $3.90 per share*, (*See below for important information about non-GAAP measures) 2027 adjusted earnings guidance of $4.08 to $4.17, and long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

We are reaffirming our full-year 2026 guidance of $3.83 to $3.90 per share with continued confidence toward the high end.

CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83 to $3.90 per share (\*See below for important information about non-GAAP measures) and long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

Our full-year guidance remains at $3.83-$3.90 per share with continued confidence toward the high end.

CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83 to $3.90 per share (\*See below for important information about non-GAAP measures) and long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

For 2026, we are raising our annual guidance by $0.03, to $3.83-$3.90, which represents 6%-8% growth off of 2025 actual results, and we continue to guide toward the high end.

CMS Energy raised its 2026 adjusted earnings guidance to $3.83 to $3.90 from $3.80 to $3.87 per share (\*See below for important information about non-GAAP measures) and reaffirmed long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

With continued confidence toward the high end, we are initiating our full year guidance for 2026 at $3.80-$3.87 per share, reflecting 6%-8% growth off the midpoint of this year's revised range and we are well positioned to be toward the high end of that range.

The company also initiated 2026 adjusted earnings guidance of $3.80 to $3.87 per share and reaffirmed its long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

CMS Energy reaffirmed its 2026 adjusted earnings guidance of $3.83 to $3.90 per share*, (*See below for important information about non-GAAP measures) 2027 adjusted earnings guidance of $4.08 to $4.17, and long-term adjusted EPS growth of 6 to 8 percent, with continued confidence toward the high end.

On the right side of the slide, looking forward, customer bills, electric and gas below the Energy CPI, while investing over $24 billion over our five year plan period.

CMS Energy is introducing 2027 earnings guidance of $4.08 to $4.17.

As per our guidance, we'll plan to issue an aggregate amount of approximately $700 million over the course of the year.

Lastly, our financing assumptions remain conservative at the parent segment with expected equity issuances of approximately $700 million to support the increased capital plan at the utility.

Additionally, affordability is supported by growth. Michigan continues to make headlines and top rankings nationwide as we see new or expanding load materialize in the state and supporting 2%-3% annual sales growth.

Over the course of the five-year plan, our aggregate equity needs will be consistent with our historical ratio of 40 cents of equity for every dollar of incremental CapEx and equates to an average of approximately $750 million per year, given a substantial increase in our five-year customer investment plan.

Lastly, we also expect select large multi-year economic development projects to begin ramping up in 2026, yielding approximately 3% weather-normalized load growth for the year, with run rate assumptions of 2%-3% in the outer years of our plan.

This plan supports 10.5% rate base growth through 2030.