--- title: "CMS Energy | 8-K: FY2026 Q2 Revenue: USD 1.829 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/294051161.md" datetime: "2026-07-28T10:41:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294051161.md) - [en](https://longbridge.com/en/news/294051161.md) - [zh-HK](https://longbridge.com/zh-HK/news/294051161.md) --- # CMS Energy | 8-K: FY2026 Q2 Revenue: USD 1.829 B Revenue: As of FY2026 Q2, the actual value is USD 1.829 B. EPS: As of FY2026 Q2, the actual value is USD 0.37, beating the estimate of USD 0.3625. EBIT: As of FY2026 Q2, the actual value is USD 339 M. ### Second Quarter 2026 Financial Performance #### Operating Results (Three Months Ended June 30) CMS Energy Corporation’s operating revenue was $1,829 million in 2026, a decrease from $1,838 million in 2025. Operating expenses increased to $1,565 million in 2026 from $1,521 million in 2025. Operating income decreased to $264 million in 2026 from $317 million in 2025. Other income was $75 million in 2026, down from $137 million in 2025. Interest charges rose to $210 million in 2026 from $199 million in 2025. Income before income taxes was $129 million in 2026, compared to $255 million in 2025. Income tax expense decreased to $33 million in 2026 from $62 million in 2025. Net income was $96 million in 2026, a decrease from $193 million in 2025. Loss attributable to noncontrolling interests was - $24 million in 2026, compared to - $8 million in 2025. Net income attributable to CMS Energy Corporation was $120 million in 2026, down from $201 million in 2025. Preferred stock dividends remained constant at $3 million for both 2026 and 2025. Net income available to common stockholders was $117 million in 2026, a decrease from $198 million in 2025. #### Operating Results (Six Months Ended June 30) Operating revenue for CMS Energy Corporation increased to $4,559 million in 2026 from $4,285 million in 2025. Operating expenses rose to $3,805 million in 2026 from $3,474 million in 2025. Operating income was $754 million in 2026, compared to $811 million in 2025. Other income was $150 million in 2026, down from $187 million in 2025. Interest charges increased to $413 million in 2026 from $385 million in 2025. Income before income taxes was $491 million in 2026, compared to $613 million in 2025. Income tax expense was $118 million in 2026, a slight decrease from $125 million in 2025. Net income was $373 million in 2026, a decrease from $488 million in 2025. Loss attributable to noncontrolling interests was - $87 million in 2026, compared to - $17 million in 2025. Net income attributable to CMS Energy Corporation was $460 million in 2026, down from $505 million in 2025. Preferred stock dividends remained constant at $5 million for both 2026 and 2025. Net income available to common stockholders was $455 million in 2026, a decrease from $500 million in 2025. ### Balance Sheet Highlights (As of June 30, 2026, vs. December 31, 2025) Cash and cash equivalents decreased to $241 million from $509 million. Restricted cash and cash equivalents were $104 million, slightly down from $106 million. Total current assets were $2,866 million, down from $3,472 million. Plant, property, and equipment increased to $32,329 million from $30,680 million. Total assets increased to $40,905 million from $39,941 million. Current liabilities decreased to $2,193 million from $2,592 million. Non-current liabilities increased to $9,012 million from $8,740 million. Debt and finance leases (excluding securitization debt) increased to $18,776 million from $18,313 million. Common stockholders’ equity grew to $9,550 million from $8,920 million. Total capitalization (excluding securitization debt) increased to $29,175 million from $28,024 million. Total liabilities and equity increased to $40,905 million from $39,941 million. ### Cash Flow Activities (Six Months Ended June 30) Net cash provided by operating activities was $1,327 million in 2026, down from $1,414 million in 2025. Net cash used in investing activities was - $2,093 million in 2026, an increase from - $1,880 million in 2025. Cash flows from operating and investing activities resulted in - $766 million in 2026, compared to - $466 million in 2025. Net cash provided by financing activities was $496 million in 2026, a significant decrease from $1,213 million in 2025. Total cash flows were - $270 million in 2026, a change from $747 million in 2025. End of period cash and cash equivalents, including restricted amounts, was $345 million in 2026, down from $925 million in 2025. ### Strategic and Operational Metrics CMS Energy Corporation completed a strategic review at NorthStar Clean Energy, deciding to exit non-utility renewables development and retain Michigan-based assets. This strategic shift aims to simplify the business, reduce financing needs, and enable a greater focus on regulated energy services. ### Outlook / Guidance CMS Energy Corporation reaffirmed its 2026 adjusted earnings guidance of $3.83 to $3.90 per share, with confidence towards the high end of its long-term adjusted EPS growth of 6 to 8 percent. 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