CMS ENERGY CORP (CMS) Form 10-Q — Oct 27, 2026
CMS Energy reported nine-month 2026 net income available to common stockholders of $576 million ($1.86 diluted EPS), down from $775 million ($2.59) a year earlier, with Q3 EPS of $0.39 versus $0.92 in Q3 2025. The decline was driven primarily by $525 million of impairment, disposal, and exit costs at NorthStar Clean Energy, where CMS is divesting over 630 MW of non-Michigan renewable projects and exiting non-utility renewables development.
Key figures
- Eps
- 0.39
- Revenue
- 2183000000
- Net Income
- 121000000
- Revenue Yoy
- Q3 operating revenue $2,183M vs $2,021M; nine months $6,742M vs $6,306M
- Total Assets
- 41683000000
- Cash Position
- 579000000
- Shares Outstanding
- 313625618
- Eps nine month
- $1.86 vs $2.59 year-ago
- Planned capex 2026 2030
- $24.1 billion
- Q3 impairment exit costs
- $525 million (NorthStar Clean Energy divestment-related)
- Equity issued nine months
- $530 million
- New equity offering program
- $3 billion (May 2026, unused)
- Northstar divestment capacity
- over 630 MW
- Jhcambell ferc recovery sought
- $303 million net of $344 million MISO revenues
- Electric rate increase 2026 order
- $277 million at 9.90% ROE
- Gas rate increase october 2026 order
- $139 million at 9.80% ROE
AI analysis
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