CMS Energy beats profit estimates, boosts capital expenditure plan amid rising power demand

CMS Energy

28/04/2026 12:03

April 28 (Reuters) - U.S. electric and gas utility CMS Energy CMS.N on Tuesday beat Wall Street estimates for first-quarter profit and raised its capital expenditure plan on the back of rising power demand.

U.S. power companies are beefing up spending plans as the country's power demand is projected to rise, after decades of stagnation, driven by the growth of energy-intensive data centers.

The utility now expects to spend about $24 billion in capital expenses through 2030, up from its prior view of $20 billion.

A recent electric rate order approved by the regulator granted roughly 66% of the company's requested hike.

Utilities have been seeking to raise customer power bills to fund infrastructure upgrades, as the country's electrical grids face growing demand from industry electrification and data-center expansions.

The Jackson, Michigan-based company earned $1.13 per share on an adjusted basis in the first quarter, compared with analysts' estimates of $1.10 per share, according to LSEG data.

CMS Energy's operating revenue rose 11.5% to $2.7 billion.

The utility reaffirmed its full-year profit forecast in the range of $3.83 to $3.90 per share.

 (Reporting by Pranav Mathur in Bengaluru; Editing by Vijay Kishore)

 ((Pranav.Mathur@thomsonreuters.com;))