Remember that evaporated milk has more sugar (lactose) and a slightly different mineral content than fresh milk. In savory dishes, you might notice a faint sweetness—often a welcome surprise in mac and cheese.
If you’re baking cookies, reduce the sugar in the recipe by about a tablespoon per cup of reconstituted evap milk. Your taste buds will thank you for not making them feel like a carnival cotton candy stand.
Substitute For Evaporated Coconut Milk at Gary Delariva blog
For an even closer match, use whole milk evaporated rather than skim. It’s richer, but if you’re using the skim version, just add a tablespoon of melted butter to your cup of reconstituted milk. Voilà—instant whole milk impersonator.