--- title: "CMS Energy | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 2.021 B" type: "news" locale: "en" url: "https://longbridge.com/en/news/263555295.md" published_at: "2025-10-30T14:46:50.000Z" --- # CMS Energy | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 2.021 B 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. ### Electric Utility Segment - **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. - **Revenue**: Increased due to higher electric sales and rate increases. - **Operating Expenses**: Increased due to higher depreciation and amortization, higher property taxes, and higher other maintenance and operating expenses. ### Gas Utility Segment - **Net Income**: $238 million for the nine months ended September 30, 2025, up from $195 million in the same period in 2024. - **Revenue**: Increased due to higher gas sales and rate increases. - **Operating Expenses**: Increased due to higher IT expenses, higher energy waste reduction program costs, and higher maintenance and other operating expenses. ### NorthStar Clean Energy Segment - **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. - **Revenue**: Decreased due to lower earnings from renewable projects and higher operating expenses. ### Corporate Interest and Other - **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. ### Cash Flow - **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. - **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. - **Financing Cash Flow**: $1,423 million for the nine months ended September 30, 2025, up from $353 million in the same period in 2024. ### Future Outlook and Strategy - **Electric Utility Segment**: Focus on improving electric distribution system reliability and grid modernization through the Reliability Roadmap, with planned investments through 2029. - **Gas Utility Segment**: Continued investment in gas infrastructure to enhance safety and reliability, with a focus on reducing methane emissions. - **NorthStar Clean Energy Segment**: Expansion of renewable energy projects, including solar and wind energy resources, to meet clean energy standards. - **Corporate Strategy**: Emphasis on cost control measures, maintaining solid investment-grade credit ratings, and reinvesting in the communities served. ### Outlook - **Electric Deliveries**: Expected to increase over the next five years, driven by strong growth in electric demand and offset by energy waste reduction programs. - **Gas Deliveries**: Expected to remain stable over the next five years, with modest growth in gas demand offset by energy waste reduction programs. - **Regulatory Environment**: Continued focus on obtaining fair and timely regulatory treatment to support customer-driven investment plans. ### Related Stocks - [CMS.US - CMS Energy](https://longbridge.com/en/quote/CMS.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Do Wall Street Analysts Like CMS Energy Stock? | Do Wall Street Analysts Like CMS Energy Stock? | [Link](https://longbridge.com/en/news/276064675.md) | | Reliability Roadmap by the Numbers: 2,700 Electric Reliability Improvements Powered by Customers' Investments in 2025 \| CMS Stock News | Consumers Energy has completed nearly 2,700 electric reliability projects in 2025, funded by customer rate increases. 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