CMS Energy Q1 FY26: where the revenue came from and where it went
The whole income statement of CMS Energy for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 28, 2026
Revenue$2.73B
+12% year over year
Operating profit$0.36B
13% margin
Net profit$0.34B
12% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 2.73 | 100% | +12% |
| Electric utility | 1.37 | 50% | +5% |
| Gas utility | 1.24 | 46% | +19% |
| North star clean energy | 0.12 | 4% | +19% |
| Operating expenses | −2.37 | 87% | |
| Other | −1.12 | 41% | |
| Maintenance and other operating | −0.45 | 17% | +0pp |
| Depreciation and amortization | −0.41 | 15% | +0pp |
| Fuel for electric generation | −0.22 | 8% | +0pp |
| General taxes | −0.17 | 6% | +0pp |
| Operating profit | 0.36 | 13% margin | −1pp |
| Other income, net | 0.06 | ||
| Tax | −0.09 | ||
| Net profit | 0.34 | 12% margin | +0pp |
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