CMS ENERGY CORP is expected to release its Q3 2026 10-Q filing in the upcoming earnings season. Last quarter: CMS Energy's Q2 FY2026 10-Q shows revenue roughly flat year-over-year at $1.829B (-0.5%), but net income fell sharply to $120M (-40.3%) and diluted EPS dropped to $0.37 (-43.9%), driven by higher operating costs, increased depreciation, and a substantial rise in long-term debt supporting continued capital investment.
Drawn from management commentary in the Q2 2026 10-Q:
Revenue was $1,829M, down just 0.5% from $1,838M in the prior-year period, but operating income fell 16.7% to $264M from $317M, indicating rising costs pressured margins even as top-line held steady.
Net income dropped 40.3% to $120M from $201M, and diluted EPS fell to $0.37 from $0.66 (-43.9%), a decline steeper than the revenue or operating income decrease, suggesting additional pressure below the operating line such as higher interest expense from increased debt.
Total assets grew 8.5% to $40.905B, largely funded by an 8.3% increase in long-term debt to $18.172B, consistent with a capital-intensive utility continuing infrastructure investment.
Revenue
$1.83B
-0.49% YoY
EPS (Diluted)
$0.37
-43.94% YoY
Operating Income
$264M
-16.72% YoY
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