10-Q - CMS ENERGY CORP (0000811156) (Filer)

Thu, Apr 24, 2:45 PM (29 days ago)

**CMS Energy Corporation (CMS) - Ticker: CMS** **Q1 2025 Financial Health and Performance:** - **Revenue:** $2.45 billion, up from $2.18 billion in Q1 2024. - **Net Income:** $302 million, up from $285 million in Q1 2024. - **EPS:** $1.01, up from $0.96 in Q1 2024. - **Operating Expenses:** $1.95 billion, up from $1.76 billion in Q1 2024. - **Cash Flow from Operations:** $1.00 billion, up from $956 million in Q1 2024. - **Cash Flow from Investing:** -$918 million, down from -$637 million in Q1 2024. - **Cash Flow from Financing:** $266 million, down from $294 million in Q1 2024. **Segment Performance:** - **Electric Utility:** Income up to $124 million from $97 million. - **Gas Utility:** Income up to $213 million from $169 million. - **NorthStar Clean Energy:** Loss of $18 million, down from income of $31 million. **Trends and Uncertainties:** - **Regulatory:** Ongoing rate cases and environmental regulations. - **Environmental:** Compliance with Clean Air Act, Clean Water Act, and other regulations. - **Weather:** Seasonal fluctuations in demand. - **Economic:** Michigan's economic conditions and population trends. **Future Operations Impact:** - **Investment Plan:** $20 billion planned through 2029, focusing on infrastructure upgrades and clean generation. - **Rate Cases:** Pending outcomes may affect future revenues. - **Environmental Compliance:** Continued focus on reducing emissions and meeting regulatory standards. **Consumers Energy Company (Subsidiary of CMS):** - **Revenue:** $2.35 billion, up from $2.10 billion in Q1 2024. - **Net Income:** $346 million, up from $275 million in Q1 2024. - **Operating Expenses:** $1.84 billion, up from $1.69 billion in Q1 2024. - **Cash Flow from Operations:** $1.03 billion, up from $979 million in Q1 2024. - **Cash Flow from Investing:** -$800 million, down from -$607 million in Q1 2024. - **Cash Flow from Financing:** -$229 million, down from $238 million in Q1 2024. **Segment Performance:** - **Electric Utility:** Income up to $124 million from $97 million. - **Gas Utility:** Income up to $213 million from $169 million. **Trends and Uncertainties:** - **Regulatory:** Ongoing rate cases and environmental regulations. - **Environmental:** Compliance with Clean Air Act, Clean Water Act, and other regulations. - **Weather:** Seasonal fluctuations in demand. - **Economic:** Michigan's economic conditions and population trends. **Future Operations Impact:** - **Investment Plan:** $20 billion planned through 2029, focusing on infrastructure upgrades and clean generation. - **Rate Cases:** Pending outcomes may affect future revenues. - **Environmental Compliance:** Continued focus on reducing emissions and meeting regulatory standards.