CMS ENERGY CORP

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 30, 2025

CMS$69.78+0.3%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income (Unaudited)

In Millions
	Three Months Ended		Nine Months Ended
September 30	2025	2024	2025	2024
Operating Revenue	$1,913	$1,661	$6,007	$5,291
Operating Expenses
Fuel for electric generation	113	150	419	366
Purchased and interchange power	490	346	1,219	989
Purchased power – related parties	21	19	69	53
Cost of gas sold	40	31	545	447
Maintenance and other operating expenses	388	381	1,137	1,136
Depreciation and amortization	274	261	925	878
General taxes	104	95	369	346
Total operating expenses	1,430	1,283	4,683	4,215
Operating Income	483	378	1,324	1,076
Other Income (Expense)
Non-operating retirement benefits, net	44	39	128	118
Other income	15	24	44	67
Other expense	(4)	(3)	(11)	(10)
Total other income	55	60	161	175
Interest Charges
Interest on long-term debt	135	123	388	364
Interest expense – related parties	10	9	30	22
Other interest expense	3	3	6	8
Allowance for borrowed funds used during construction	(3)	(4)	(8)	(8)
Total interest charges	145	131	416	386
Income Before Income Taxes	393	307	1,069	865
Income Tax Expense	79	34	221	139
Net Income	314	273	848	726
Preferred Stock Dividends	—	—	1	1
Net Income Available to Common Stockholder	$314	$273	$847	$725

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.