Quarterly ResultApr 28, 2026, 11:36 AM
CMS-PB Q1 Net Income $338M, EPS $1.10; MPSC Approves $277M Rate Hike
AI Summary
CONSUMERS ENERGY CO (CMS-PB) reported Q1 2026 net income of $338 million, up from $302 million in Q1 2025, with diluted EPS rising to $1.10 from $1.01. The Michigan Public Service Commission (MPSC) approved an annual rate increase of $277 million and deferred accounting for certain costs. The company plans $24.1 billion in capital expenditures through 2030, focusing on electric generation, distribution, and gas infrastructure, and is advancing its clean energy strategy to achieve 60% renewable energy by 2035 and 100% clean energy by 2040.
Key Highlights
- CMS-PB Q1 2026 net income available to common stockholders was $338 million, up from $302 million in Q1 2025.
- Diluted EPS for Q1 2026 was $1.10, compared to $1.01 in Q1 2025.
- MPSC approved an annual rate increase of $277 million based on a 9.90% authorized return on equity.
- Consumers plans $24.1 billion in capital expenditures through 2030, including $8.8 billion for electric generation.
- Electric distribution and other projects account for $8.6 billion, and gas infrastructure projects for $6.7 billion.
- Consumers aims for 60% renewable energy by 2035 and 100% clean energy by 2040.
- MPSC approved deferred accounting for $22 million in vegetation management and $15 million in ERP costs.
- Consumers expects over 13 GW in expanded renewables and two new 1,500 MW natural gas plants by June 2026.