CMS Energy(US:CMS)2025-10-30 14:41Financial Performance - CMS Energy reported a significant increase in revenue, reaching $2.5 billion for the quarter ended September 30, 2025, representing a 12% year-over-year growth[4]. - The company achieved an earnings per share (EPS) of $1.25, up from $1.10 in the same quarter last year, indicating a 13.6% increase[4]. - For the nine months ended September 30, 2025, CMS Energy's net income available to common stockholders was $775 million, with diluted EPS of $2.59, compared to $731 million and $2.45 for the same period in 2024, reflecting a 6% increase in net income[65]. - Consumers Electric Utility reported a net income of $326 million for the three months ended September 30, 2025, up from $273 million in 2024, representing a 19.5% increase[81]. - For the nine months ended September 30, 2025, net income increased to $617 million from $540 million in 2024, reflecting a 14.3% growth[81]. - Operating revenue for Q3 2025 was $2,021 million, a 16% increase from $1,743 million in Q3 2024[196]. - Net income for the nine months ended September 30, 2025, reached $760 million, up 9.8% from $692 million in the same period of 2024[200]. - Basic earnings per share for Q3 2025 were $0.92, compared to $0.84 in Q3 2024, reflecting a 9.5% increase[196]. - Total operating expenses for the nine months ended September 30, 2025, were $5,014 million, a 12.3% increase from $4,464 million in 2024[196]. - Consumers Energy Company achieved operating revenue of $1,913 million for the three months ended September 30, 2025, up 15.1% from $1,661 million in the same period last year[204]. - The net income attributable to CMS Energy for the three months ended September 30, 2025, was $277 million, compared to $253 million in the prior year, reflecting a year-over-year increase of 9.5%[203]. - Operating income for Consumers Energy Company increased to $483 million for the three months ended September 30, 2025, a rise of 27.8% from $378 million in the same quarter of 2024[204]. - Net income for Consumers Energy Company for the nine months ended September 30, 2025, was $848 million, up from $726 million in the same period of 2024, indicating a growth of 16.8%[204]. - The total operating revenue for Consumers Energy Company for the nine months ended September 30, 2025, reached $6,007 million, an increase of 13.5% from $5,291 million in the previous year[204]. Customer Growth and Market Expansion - Consumers Energy's customer base grew by 3% year-over-year, adding approximately 50,000 new customers in the last quarter[4]. - The company has initiated a new strategy to expand its market presence in the Midwest, targeting a 15% increase in market share by 2026[4]. Investment and Capital Expenditures - CMS Energy plans to invest $1.2 billion in new clean energy initiatives over the next three years, focusing on solar and wind energy developments[4]. - Consumers plans to spend $20.0 billion on capital expenditures through 2029, with $14.8 billion allocated for infrastructure upgrades and clean generation, including $8.5 billion for electric distribution and $6.3 billion for gas infrastructure[72]. - Total capital expenditures for CMS Energy increased to $2,926 million in the nine months ended September 30, 2025, compared to $2,101 million in 2024, reflecting a 39.1% increase[87]. - Capital expenditures for the nine months ended September 30, 2025, totaled $2,750 million, compared to $2,100 million in 2024, indicating a significant investment in growth[200]. Renewable Energy and Environmental Initiatives - CMS Energy's long-term strategy includes a commitment to achieving net-zero carbon emissions by 2040, aligning with state regulatory requirements[4]. - Consumers has reduced carbon dioxide emissions from owned generation by more than 30 percent since 2005[54]. - Consumers' Clean Energy Plan aims for a clean energy standard of 80 percent by 2035 and 100 percent by 2040[54]. - The 2023 Energy Law raises the renewable energy standard from 15 percent to 50 percent by 2030 and 60 percent by 2035[54]. - Consumers aims to achieve 60% renewable energy by 2035 and 100% clean energy by 2040, with updates including up to 9,000 MW of solar and 2,800 MW of wind energy resources[58]. - Consumers has reduced methane emissions by nearly 30 percent since 2012[54]. - Consumers aims for net-zero methane emissions from its natural gas delivery system by 2030, planning to reduce emissions by about 80% from 2012 levels[177]. - Consumers has set a target for net-zero greenhouse gas emissions for its entire natural gas system by 2050, with an interim goal of reducing customer emissions by 25% by 2035[178]. - Consumers is constructing two renewable natural gas facilities scheduled for commercial operation in 2026[179]. - Over 15% of Consumers' electricity supply currently comes from renewable sources, with plans to add up to 2,800 MW of new wind energy and 9,000 MW of solar energy resources[112][113]. Operational Efficiency and Cost Management - The company reported a 5% reduction in operational costs due to improved efficiency measures implemented in the last quarter[4]. - Consumers is addressing inflationary pressures and tariffs to maintain affordable energy services[50]. - Consumers' investment program is expected to result in annual rate-base growth of more than 8%, maintaining affordable customer prices[69]. Regulatory and Compliance Matters - The MPSC established a performance-based financial mechanism allowing utilities to earn up to $10 million annually for meeting reliability benchmarks starting in 2026[130]. - The MPSC must issue a final order on the electric rate case by April 2026[132]. - Consumers expects to incur $240 million in capital expenditures from 2025 to 2029 to comply with environmental regulations[134]. - Consumers has received a compliance extension for wastewater discharge regulations until the end of 2025 for its J.H. Campbell facility[156]. Debt and Financial Position - Long-term debt increased to $16,774 million as of September 30, 2025, from $15,194 million at the end of 2024[202]. - Total assets as of September 30, 2025, were $38,008 million, up from $35,920 million at the end of 2024, showing a growth in the company's asset base[201]. - The company reported a comprehensive income attributable to CMS Energy of $782 million for the nine months ended September 30, 2025, compared to $739 million in 2024[197]. - CMS Energy Corporation reported total equity at the end of the period of $9,431 million, an increase from $8,641 million in the previous year, representing a growth of 9.2%[203].