Quarterly ResultApr 28, 2026, 11:32 AM
CMS Q1 Net Income $338M, EPS $1.10; MPSC Approves $277M Rate Hike
AI Summary
CMS Energy Corp (CMS) reported Q1 2026 net income of $338 million, or $1.10 diluted EPS, up from $302 million and $1.01 diluted EPS in Q1 2025. The company's financial performance was supported by electric and gas rate increases, partially offset by higher service restoration costs and increased depreciation and property taxes. The Michigan Public Service Commission (MPSC) approved an annual rate increase of $277 million with a 9.90% authorized return on equity, alongside significant capital expenditure plans of $24.1 billion through 2030 for infrastructure upgrades and clean energy generation.
Key Highlights
- Q1 2026 Net Income $338M, up from $302M in Q1 2025.
- Q1 2026 Diluted EPS $1.10, up from $1.01 in Q1 2025.
- MPSC approved $277M annual rate increase with 9.90% authorized ROE.
- Planned capital expenditures of $24.1B through 2030.
- $8.8B allocated to electric generation (solar, wind, natural gas, storage).
- $8.6B for electric distribution and other projects.
- $6.7B for gas infrastructure projects.
- Goal of 60% renewable energy by 2035 and 100% clean energy by 2040.