Revenue: As of FY2025 Q3, the actual value is USD 2.021 B, beating the estimate of USD 1.814 B.EPS: As of FY2025 Q3, the actual value is USD 0.92, beating the estimate of USD 0.855.EBIT: As of FY2025 Q3, the actual value is USD 684 M.<h3>Electric Utility Segment</h3><ul><li>Net Income: $326 million for Q3 2025, up from $273 million in Q3 2024. For the nine months ended September 30, 2025, net income was $617 million, up from $540 million in the same period in 2024.</li><li>Revenue: Increased due to higher electric sales and rate increases.</li><li>Operating Expenses: Increased due to higher depreciation and amortization, higher property taxes, and higher other maintenance and operating expenses.</li></ul><h3>Gas Utility Segment</h3><ul><li>Net Income: $238 million for the nine months ended September 30, 2025, up from $195 million in the same period in 2024.</li><li>Revenue: Increased due to higher gas sales and rate increases.</li><li>Operating Expenses: Increased due to higher IT expenses, higher energy waste reduction program costs, and higher maintenance and other operating expenses.</li></ul><h3>NorthStar Clean Energy Segment</h3><ul><li>Net Income: $11 million for Q3 2025, up from $6 million in Q3 2024. For the nine months ended September 30, 2025, net income was $15 million, down from $53 million in the same period in 2024.</li><li>Revenue: Decreased due to lower earnings from renewable projects and higher operating expenses.</li></ul><h3>Corporate Interest and Other</h3><ul><li>Net Expense: - $62 million for Q3 2025, down from - $39 million in Q3 2024. For the nine months ended September 30, 2025, net expense was - $95 million, down from - $57 million in the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Operating Cash Flow: $1,757 million for the nine months ended September 30, 2025, down from $1,967 million in the same period in 2024.</li><li>Investing Cash Flow: - $2,926 million for the nine months ended September 30, 2025, down from - $2,101 million in the same period in 2024.</li><li>Financing Cash Flow: $1,423 million for the nine months ended September 30, 2025, up from $353 million in the same period in 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Electric Utility Segment: Focus on improving electric distribution system reliability and grid modernization through the Reliability Roadmap, with planned investments through 2029.</li><li>Gas Utility Segment: Continued investment in gas infrastructure to enhance safety and reliability, with a focus on reducing methane emissions.</li><li>NorthStar Clean Energy Segment: Expansion of renewable energy projects, including solar and wind energy resources, to meet clean energy standards.</li><li>Corporate Strategy: Emphasis on cost control measures, maintaining solid investment-grade credit ratings, and reinvesting in the communities served.</li></ul><h3>Outlook</h3><ul><li>Electric Deliveries: Expected to increase over the next five years, driven by strong growth in electric demand and offset by energy waste reduction programs.</li><li>Gas Deliveries: Expected to remain stable over the next five years, with modest growth in gas demand offset by energy waste reduction programs.</li><li>Regulatory Environment: Continued focus on obtaining fair and timely regulatory treatment to support customer-driven investment plans.</li></ul>

CMS Energy | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 2.021 B