Key Highlights

  • CenterPoint Energy raised its 10-year capital plan by $4.0 billion to $70.7 billion and lifted 2026 non-GAAP EPS guidance to $1.90 to $1.92.
  • Innio's data center revenue rose to $463 million from $38 million, and total revenue grew 57% to $1,167.9 million.
  • FirstEnergy said contracted large-load demand reached 7.9 gigawatts, nearly double the level at the start of 2026.
  • Hubbell raised its 2026 adjusted EPS outlook to $20.40 to $20.60 as Electrical Solutions sales rose 51%.
  • CMS Energy reported adjusted EPS of $1.44 but took a $456 million NorthStar charge that cut GAAP EPS to $0.39.

Which Power Demand Names Reported Earnings on October 27?

Six companies tied to electricity demand, equipment or industrial supply reported on Tuesday, October 27. CenterPoint Energy (NYSE:CNP) posted non-GAAP EPS of $0.53 and a $70.7 billion 10-year capital plan. CMS Energy (NYSE:CMS) reported adjusted EPS of $1.44 and a $456 million NorthStar charge. FirstEnergy (NYSE:FE) reported core EPS of $0.98 and 7.9 gigawatts of contracted large load. Innio (NASDAQ:INIO) grew revenue 57% to $1,167.9 million. Hubbell (NYSE:HUBB) raised its outlook to $20.40 to $20.60, and Crane (NYSE:CR) raised its outlook to $7.23 to $7.38.

Data center and large-load demand is the common thread for the first five, although Crane's release ties its results to acquisitions and Process Flow rather than power demand. The sections below condense each report, and the comparison section calculates guidance changes and load figures.

CenterPoint Energy: Why Does the $70.7 Billion Capital Plan Matter More Than a $0.53 Result?

CenterPoint reported non-GAAP EPS of $0.53 against $0.50 a year earlier and an estimate of $0.50 as screened. It raised 2026 guidance to $1.90 to $1.92 and introduced 2027 guidance of $2.07 to $2.09, each about 9% growth at the midpoint.

The 2026 to 2030 plan is about $38.7 billion, up from $34.2 billion, and common equity needs through 2035 rose $1.6 billion to about $5.6 billion. Expected large-load energization is about 3 gigawatts in 2027 rising to 12 gigawatts in 2030, though management cautioned actual demand may be lower than studied.

CMS Energy: Did a $456 Million NorthStar Charge Hide a Quarter That Beat Estimates?

CMS Energy reported adjusted EPS of $1.44 against $0.93 a year earlier and an estimate of $1.35 as screened. GAAP EPS was $0.39 because of the $456 million NorthStar charge, equal to $1.08 per share after tax. It reaffirmed 2026 guidance of $3.83 to $3.90 and set 2027 at $4.08 to $4.17.

Management said it has exited renewables development, and the restructuring cuts parent funding needs by more than $500 million through 2030. About 450 megawatts of new load is energized and roughly 745 megawatts is anticipated at full ramp, while a large data center agreement remains outside the capital plan.

FirstEnergy: Why Did Core EPS Rise 18% Without a Guidance Change?

FirstEnergy reported core EPS of $0.98 versus $0.83, against an estimate of $0.90 as screened, and reaffirmed 2026 core EPS guidance of $2.62 to $2.82, expecting results at or slightly above $2.72. Revenue was $4.6 billion, up about 12% (calculated).

Contracted large-load demand reached 7.9 gigawatts, with about 4 gigawatts more under negotiation. The Energize365 program totals $36 billion over five years, and a state commission order on the proposed Maidsville gas plant is projected in the fourth quarter of 2026. Subtracting nine-month core EPS of $2.20 implies fourth-quarter core EPS of about $0.42 to $0.62 (calculated).

Innio: Is Record Data Center Demand Behind the Raised 2026 Outlook?

Innio, which makes Jenbacher gas engines, reported revenue of $1,167.9 million, up 57%, and diluted EPS of $0.15 against an estimate of $0.12 as screened. Data center revenue rose to $463 million from $38 million. Equipment revenue rose 86% to $777.6 million.

The 2026 outlook rose to revenue of $3.9 billion to $4.0 billion and adjusted EBITDA of $780 million to $800 million. Net leverage fell to 2.1 times from 3.6 times at year-end 2025. Subtracting nine-month results implies fourth-quarter adjusted EBITDA of $240 million to $260 million (calculated, not guided).

Hubbell: How Did Data Center Demand Lift the 2026 Outlook to $20.40 to $20.60?

Hubbell reported adjusted EPS of $5.91, up 14%, against an estimate of $5.75 as screened, on net sales of $1,872.5 million, up 25%. Electrical Solutions sales rose 51% to $845 million, which management tied to data center demand, and Utility Solutions rose 9% to $1,028 million.

The 2026 adjusted EPS outlook rose to $20.40 to $20.60 from $20.25 to $20.55. Net debt reached $4,664.7 million after $3,005.7 million of nine-month acquisition spending. Subtracting nine-month adjusted EPS of $15.37 implies fourth-quarter adjusted EPS of about $5.03 to $5.23 (calculated).

Crane: Did a Record $2.05 Adjusted EPS Come With a Higher Outlook?

Crane reported record adjusted EPS of $2.05, up 23% from $1.67 and above the $1.82 estimate as screened, on sales up 28.1% to $754.6 million. Acquisitions contributed 21.1 points of growth and core sales rose 7.7%.

The 2026 adjusted EPS outlook rose to $7.23 to $7.38 from $6.85 to $7.05, and backlog was $1,894.9 million. A pending Trillium pump purchase is expected to close in the fourth quarter, and the UK building services sale for 230 million pounds is expected to close early in 2027.

Power Demand Earnings Compared: How Do Guidance Raises and Load Figures Stack Up?

Crane's guidance midpoint rose to $7.305 from $6.95, about 5.1%, while Hubbell's rose to $20.50 from $20.40, about 0.5% (both calculated). Innio's adjusted EBITDA midpoint rose to $790 million from $730 million, about 8.2% (calculated), and FirstEnergy's midpoint held at $2.72.

FirstEnergy's 7.9 gigawatts of contracted large load is about 10.6 times the 745 megawatts CMS Energy anticipates at full ramp, and CenterPoint Energy's 12 gigawatts expected by 2030 is four times its 3 gigawatts in 2027 (all calculated). Innio's $463 million of data center revenue is about 39.6% of its total revenue (calculated).

What to Watch Next: ERCOT Decisions, the FirstEnergy Call and CMS Energy's Rate Case

FirstEnergy's call is on Wednesday, October 28 at 9 a.m. Eastern, and Crane's conference call is the same day. CenterPoint Energy expects an ERCOT decision on base-load amounts in December 2026 and studied-load allocations in April 2027, with about $1.1 billion of forward equity sales settling by February 2027. CMS Energy files a new gas rate case in December, expects a proposed electric order in late January and a final order by early April 2027. Innio's implied fourth-quarter figures and Hubbell's implied $5.03 to $5.23 adjusted EPS range will be tested in their next reports.