Short answer
CMS Energy (CMS) filed its Q2 2026 10-Q quarterly report on Jul 28, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $1.8B (up 0.6% year over year) with net income of $120M.
Q2 2026 key financials · XBRL
- Revenue
- $1.8B
- +0.6% YoY · −32.4% QoQ
- Net income
- $120M
- −40.3% YoY · −64.7% QoQ
- Operating margin
- 14.6%
- EPS (diluted)
- $0.37
- −43.9% YoY · −66.4% QoQ
Source: XBRL data from the CMS Energy (CMS) Q2 2026 10-Q on SEC EDGAR. USD.
CMS Energy Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q2 net income $117M vs $198M YoY, down $81M; diluted EPS $0.37 vs $0.66
- Electric utility earnings $137M vs $167M; gas utility $27M vs $25M; NorthStar $18M vs $22M
- NorthStar renewable-project earnings rose $15M, offset by $23M higher tax expense
- Cash $345M at June 30, 2026, including $104M restricted; operating cash flow $1.327B for six months
- $24.1B planned capital expenditures through 2030; inflationary pressures and tariffs threaten supply-chain pricing and availability
Risk Factors
- Renewable-project divestiture risk triggered by July 22, 2026 board approval to exit non-utility renewables development
- Potential material impairment in third quarter 2026 from held-for-sale measurement below carrying value
- Regulatory closing risk from required approvals for divestiture targeted within 12 months
- Market risk from deteriorating renewable-asset conditions, potentially causing valuation adjustments or disposition losses
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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