CMS ENERGY CORP
For the period ended Sep 30, 2026. Filed Oct 27, 2026.
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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, 2026 · Filed Oct 27, 2026
CMS$69.78+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
Consolidated Statements of Income (Unaudited)
| In Millions, Except Per Share Amounts | ||||
|---|---|---|---|---|
| Three Months Ended | Nine Months Ended | |||
| September 30 | 2026 | 2025 | 2026 | 2025 |
| Operating Revenue | $2,183 | $2,021 | $6,742 | $6,306 |
| Operating Expenses | ||||
| Fuel for electric generation | 150 | 153 | 474 | 504 |
| Purchased and interchange power | 596 | 513 | 1,502 | 1,332 |
| Purchased power – related parties | 16 | 21 | 50 | 69 |
| Cost of gas sold | 45 | 42 | 663 | 549 |
| Maintenance and other operating expenses | 395 | 416 | 1,307 | 1,218 |
| NorthStar Clean Energy impairment, disposal, and exit costs (Note 14) | 525 | — | 525 | — |
| Depreciation and amortization | 298 | 288 | 1,018 | 964 |
| General taxes | 111 | 107 | 402 | 378 |
| Total operating expenses | 2,136 | 1,540 | 5,941 | 5,014 |
| Operating Income | 47 | 481 | 801 | 1,292 |
| Other Income (Expense) | ||||
| Non-operating retirement benefits, net | 49 | 48 | 150 | 137 |
| NorthStar Clean Energy impairment of equity method investments | (33) | — | (33) | — |
| Other income | 43 | 19 | 100 | 128 |
| Other expense | (5) | (5) | (13) | (16) |
| Total other income | 54 | 62 | 204 | 249 |
| Interest Charges | ||||
| Interest on long-term debt | 225 | 204 | 645 | 590 |
| Interest expense – related parties | 2 | 2 | 8 | 8 |
| Other interest expense | (3) | — | 1 | (1) |
| Allowance for borrowed funds used during construction | (10) | (3) | (27) | (9) |
| Total interest charges | 214 | 203 | 627 | 588 |
| Income (Loss) Before Income Taxes | (113) | 340 | 378 | 953 |
| Income Tax Expense (Benefit) | (22) | 68 | 96 | 193 |
| Net Income (Loss) | (91) | 272 | 282 | 760 |
| Loss Attributable to Noncontrolling Interests, Including Impairment $(102), $—, $(102), and $— | (214) | (5) | (301) | (22) |
| Net Income Attributable to CMS Energy | 123 | 277 | 583 | 782 |
| Preferred Stock Dividends | 2 | 2 | 7 | 7 |
| Net Income Available to Common Stockholders | $121 | $275 | $576 | $775 |
| Basic Earnings Per Average Common Share | $0.39 | $0.92 | $1.86 | $2.59 |
| Diluted Earnings Per Average Common Share | $0.39 | $0.92 | $1.86 | $2.59 |
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