CMS Energy is a U.S. utility holding company whose principal subsidiary, Consumers Energy, supplies electricity and natural gas across much of Michigan. It operates regulated generation, transmission, and distribution assets serving residential, commercial, and industrial customers. The business is built around the regulated utility model, with earnings driven largely by authorized rates and infrastructure investment in its service territory.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q2 2025 | 1,838 | — | 198 | 0.5% |
| Q3 2025 | 2,021 | — | 275 | 9.6% |
| Q4 2025 | 2,233 | — | 286 | 10% |
| Q1 2026 | 2,730 | — | 338 | 10.8% |
| Q2 2026 | 1,829 | -0.5% | 117 | -40.9% |
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