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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“most recently by S&P for our parent company, CMS Energy in December”
S&P (S&P Global Ratings) affirmed CMS Energy's investment-grade credit ratings at the parent level in December. Read-through is a routine ratings affirmation by S&P Global.
“it's great when companies like Microsoft come out and say, "Hey, we're going to protect the residential customer." It aligns exactly what this tariff”
CMS Energy cites Microsoft's public commitment that data-center hyperscalers should pay their full share and protect residential customers, framing it as aligned with CMS's large-load tariff. Signals Microsoft positioning itself favorably on data-center cost allocation.
“our recently reaffirmed credit ratings at the utility from S&P in September”
CMS Energy noted S&P reaffirmed the utility's credit ratings in September, a routine ratings action supporting the company's investment-grade profile.
“It is worth noting that Moody's reaffirmed our credit ratings in May, as noted at the bottom of the table on Slide 10, and we are currently working through the review process with S&P”
CMS Energy is currently in an active credit ratings review process with S&P, alongside Moody's reaffirmation of its ratings.
“It is worth noting that Moody's reaffirmed our credit ratings in May, as noted at the bottom of the table on Slide 10, and we are currently working through the review process with S&P”
Moody's reaffirmed CMS Energy's credit ratings in May, supporting the company's investment-grade credit profile as it continues its financing plan.
“we are currently working through the review process with Moody's”
CMS Energy is currently in an active ratings review process with Moody's, outcome not yet determined.
“It's worth noting that Fitch reaffirmed our credit ratings in March”
Fitch reaffirmed CMS Energy's credit ratings in March, supporting the company's continued investment-grade positioning.
“if I take, like, Corning, you know, $900 million investment, 1,100 jobs”
CMS references Corning's $900 million investment and 1,100 new jobs in its Michigan service territory as a concrete example of contracted economic-development load growth.
“you've heard Microsoft acquiring land. We're working with other hyperscalers as well.”
CMS cites Microsoft's land acquisition in Michigan as evidence of the growing data-center demand underpinning its 2% to 3% load growth forecast.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Julien Dumoulin-Smith | Jefferies | 13 (0%) |
| Andy Weisel | Scotiabank | 11 (0%) |
| Nick Campanella | Barclays | 10 (10%) |
| Mike Sullivan | Wolfe Research | 9 (0%) |
| Jeremy Tonet | JPMorgan | 7 (0%) |
| Shar Pourreza | Wells Fargo | 6 (17%) |
| Dave Arcaro | Morgan Stanley | 6 (0%) |
| Travis Miller | Morningstar | 5 (0%) |
| Durgesh Chopra | Evercore ISI | 5 (0%) |
| Tony Crowdell | Mizuho Securities | 2 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jefferies | 1 | 13 (0%) |
| Scotiabank | 1 | 11 (0%) |
| Barclays | 1 | 10 (10%) |
| Wolfe Research | 1 |
| 9 (0%) |
| JPMorgan | 2 | 9 (0%) |
| Wells Fargo | 2 | 7 (14%) |
| Morgan Stanley | 1 | 6 (0%) |
| Evercore ISI | 1 | 5 (0%) |
CMS Energy beat FY2025 at $3.61 adjusted EPS, exceeding guidance and up over 8% from 2024 actuals, while raising FY2026 guidance by $0.03 to $3.83-$3.90 reflecting 6-8% growth with confidence toward the high end. The five-year capital plan was increased by $4 billion to $24 billion, supporting 10.5% rate base growth through 2030, and a large load tariff was approved to protect existing customers from data center cost shifts. Operating income was compressed by higher vegetation management, storm costs, and deliberate pull-aheads to derisk 2026.
Regulation Policy | Demand | Capital Allocation | Capex Investment | Margin | Subscriber Growth | Revenue Growth | Cost Pressure | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 3 | 3 | 4 | 2 | 1 | 2 | 1 |
| 2025Q1 | 9 | 4 | 2 | 2 | 4 | 1 | 5 | |
| 2025Q2 | 2 | 3 | 1 | 1 | 1 | |||
| 2025Q3 | 3 | 5 | 2 | 6 | 2 | 3 | 1 | |
| 2025Q4 | 7 | 5 | 2 | 2 | 2 | 1 | 1 | |
| 2026Q1 | 9 | 9 | 7 | 2 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Regulation Policy | 5 | 9 | 2 | 3 | 7 | 9 |
| Demand | 3 | 4 | 3 | 5 | 5 | 9 |
| Capital Allocation | 3 | 2 | 1 | 2 | 2 | 7 |
| Capex Investment | 4 | 2 | 1 | 6 | 2 | 2 |
| Margin | 2 | 4 | 2 | |||
| Subscriber Growth | 1 | 1 | 1 | 2 | 1 | 2 |
| Revenue Growth | 2 | 3 | 1 | 1 | ||
| Cost Pressure | 1 | 5 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CMS CMS Energy | 6 | +11.6% | |
| AEE Ameren | 7 | +3.8% | |
| AEP American Electric Power | 5 | +6.8% | |
| CNP CenterPoint Energy | 5 | +1.9% | |
| D Dominion Energy | 7 | +23.1% | |
| DTE DTE Energy | 7 | +15.8% | |
| DUK Duke Energy | 8 | +11.3% | |
| ED Consolidated Edison | 6 | +6.2% | |
| EIX Edison International | 6 | +7.7% | |
| ES Eversource Energy | 6 | +9.4% | |
| ETR Entergy | 8 | +12.0% | |
| EVRG Evergy | 7 | +5.5% | |
| EXC Exelon | 6 | +7.9% | |
| FE FirstEnergy | 7 | +11.6% | |
| LNT Alliant Energy | 5 | +5.0% | |
| NEE NextEra Energy | 6 | +7.3% | |
| PCG PG&E Corporation | 8 | +15.0% | |
| PEG Public Service Enterprise Group | 9 | +19.4% | |
| PNW Pinnacle West | 8 | +11.4% | |
| PPL PPL Corporation | 7 | +10.8% | |
| SO Southern Company | 6 | +8.0% | |
| WEC WEC Energy Group | 7 | +9.0% | |
| XEL Xcel Energy | 6 | +2.9% |