U.S. electric and gas utility CMS Energy 
CMS forecast higher 2026 earnings on Thursday, on the back of strong power demand from AI data centers and hyperscalers.
The U.S. Energy Information Administration in February forecast power demand to hit record highs in 2025 and 2026.
Electric companies across the U.S. are experiencing a surge in demand as the growing usage of artificial intelligence is driving up the need for more power-guzzling data centers.
Along with data centers, residences and businesses have also been using more electricity for heating and transportation purposes.
The Jackson, Michigan-based company forecast its 2026 profit to be in the range of $3.80 to $3.87 per share, compared with forecast for 2025 to between $3.56 and $3.60 per share, the lower end of which was also raised by 2 cents.
Analysts on average were expecting 2025 adjusted earnings to be at $3.59 per share, and at $3.85 per share for 2026.
CMS Energy’s revenue rose nearly 16% from a year earlier to $2.02 billion for the third quarter, beating analysts’ average estimate of $1.85 billion according to data compiled by LSEG.
The company’s total quarterly operating expenses rose to $1.54 billion from $1.38 billion a year earlier.
It earned 93 cents per share on an adjusted basis in the third quarter, beating analysts’ estimates of 85 cents according to LSEG data.
Shares of CMS Energy have risen nearly 30% so far this year, compared with the broader S&P utilities index’s 
S5UTIL gain of 13.6%.