Oct 31 (Reuters) - CMS Energy (CMS.N) , opens new tab on Thursday beat Wall Street estimates for third-quarter profit, as the U.S. utility rides a record power consumption wave in the country.

U.S. power consumption will rise to record highs in 2024 and 2025, the Energy Information Administration (EIA) said in a recent report, citing demand for artificial intelligence technology and data centres, and as homes and businesses use more electricity for heat and transportation.

The company said it had contracted , opens new tabaround 230 megawatt power for large data centre expansions.

The Jackson, Michigan-based firm posted adjusted profit of 84 cents per share for the quarter, beating analysts' average estimate 78 cents per share, according to data compiled by LSEG.

A nearly 2% drop in operating expenses and a 4% rise in revenue helped CMS post higher quarterly profit.

For the full-year 2025, it expects adjusted earnings of $3.52 to $3.58 per share, compared with estimates of $3.59.

"We continue to make needed investments as outlined in our electric Reliability Roadmap by burying wires, installing sensors and adding other technology to build a smarter and stronger grid," said Garrick Rochow, CEO of CMS Energy.

The utility also reaffirmed its 2024 adjusted earnings forecast of $3.29 to $3.35 per share.

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https://www.reuters.com/business/energy/cms-energy-beats-quarterly-profit-estimates-rising-power-demand-2024-10-31/