Every 10-Q that CMS Energy (CMS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CMS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CMS filings page.
CMS Energy, parent of Consumers Energy and NorthStar Clean Energy, reported stronger quarterly results while advancing a large clean‑energy and infrastructure investment plan. Net income available to common stockholders rose to $338 million for the three months ended March 31, 2026, up from $302 million a year earlier, and diluted EPS increased from $1.01 to $1.10.
Growth was driven mainly by electric and gas rate increases and sharply improved results at NorthStar Clean Energy, whose net income shifted from a $18 million loss to $41 million profit on new renewable projects. These gains were partly offset by higher service restoration costs, depreciation, property taxes, IT spending tied to ERP implementation, and interest expense.
Consumers plans about $24.1 billion of capital spending through 2030, including $8.8 billion for electric generation and significant electric and gas infrastructure upgrades, supporting expected rate‑base growth of more than 8 percent annually. A 2025 electric rate case produced a $277 million annual increase effective May 2026, and a separate gas case seeks a $240 million hike. The company is executing Michigan’s 2023 Energy Law requirements, retiring coal, expanding solar, wind, storage and gas generation, and targeting 60‑percent renewable energy by 2035 and 100‑percent clean energy by 2040.
CMS Energy reported higher earnings for the quarter ended September 30, 2025. Net income available to common stockholders was $275 million, up from $251 million a year ago, and diluted EPS were $0.92 versus $0.84. For the first nine months, net income was $775 million and diluted EPS were $2.59, compared with $731 million and $2.45 in 2024.
Results were driven by Consumers Energy’s electric and gas businesses, reflecting rate increases and higher electric and gas sales, partly offset by increased depreciation, property taxes, IT expenses, and interest costs. NorthStar Clean Energy contributed modestly in the quarter.
Regulatory momentum continued. The MPSC authorized a $176 million annual electric rate increase effective April 2025 and a $157.5 million gas rate increase effective November 2025. Consumers’ 2025 electric rate case request was revised to $447 million, with a final order due by April 2026. The U.S. Department of Energy issued emergency orders extending operation of the J.H. Campbell plant through November 19, 2025; FERC granted relief to establish cost-recovery mechanisms, with a related tariff filing pending. Consumers outlined $20.0 billion of capital spending through 2029, including $14.8 billion over five years for distribution and gas infrastructure and $5.2 billion for clean generation, and reached an agreement with a new data center that could add up to 1 GW of incremental load.