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14:00
Jul 28 ◎

CMS FY2026 Q2 Watch

CMS Energy Corporation (CMS) FY2026 Q2 Earnings Call

FSLR CMS ▾

Sri Maddipati

CMS Energy's exit from non-utility renewables development implies reduced demand for solar panels, inverters, and related equipment from a major utility developer, potentially affecting suppliers over the next five years. — The $1.7 billion capital reallocation away from non-utility renewables signals a potential slowdown in procurement for solar equipment suppliers in the U.S., particularly for utility-scale projects.

"What this repositioning of Northstar and restructuring does allows us to more efficiently finance that capital, both at the parent, because we're reducing our financing needs."

FSLR WATCH

Garrick Rochow

Management reaffirmed its long-term growth target of 6-8% EPS growth, pointing to a strengthened utility-only model and reduced parent financing needs following the Northstar restructuring.

"Longer term, we continue to guide toward the high end of our adjusted EPS growth range of 6% to 8%."

CMS WATCH

HIGH

14:00
Apr 28 ◎

CMS FY2026 Q1 Watch

CMS Energy Corporation (CMS) FY2026 Q1 Earnings Call

DTE MSFT CMS ▾

Garrick Rochelle

CMS notes DTE's approach to data center regulation but has not yet analyzed it, showing a competitive but watchful stance regarding Michigan's data center market.

"I hear you referring to this kind of stay out here and referring to the DTE approach to this. I haven't seen their filing yet, so I can't speak to the specifics"

DTE WATCH

Garrick Rochelle

Management explicitly hardened the rule that local townships must approve data center zoning, with Gaines Township (Microsoft) tabling a decision on April 15th, but the 2028 online date remains unchanged. — This indicates the project is still on schedule, but faces a tangible regulatory risk centered on local approval.

"each gigawatt of new data center load that materializes in our service territory will reduce our average customer rate by 2% annually over a five-year period."

MSFT WATCH

Garrick Rochelle

Management reaffirms its 6-8% EPS growth and remains constructive on the long-term outlook, driven by data center growth, a strong rate case outcome, and an expanding capital pipeline.

"We remain confident in this year's guidance and long-term outlook and are reaffirming all our financial objectives."

CMS WATCH

HIGH

15:00
Feb 05 ◎

CMS FY2025 Q4 Watch

CMS Energy Corporation (CMS) FY2025 Q4 Earnings Call

MSFT ▾

Garrick Roshaw

Microsoft's public stance on protecting residential customers aligns with CMS's own tariff design, suggesting a cooperative dynamic for large load customers.

"It's great when companies like Microsoft come out and say, Hey, we're going to protect the residential customer. It aligns exactly with what this tariff is"

MSFT WATCH

HIGH

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