The company said its net income available to common stockholders for the 9 months ended September 30, 2026 was $576 million, and diluted EPS was $1.86. For the same period in 2025, the figures were $775 million and $2.59, respectively. It said the period included impairment, disposal, and exit costs related to the planned divestments at NorthStar Clean Energy.

1. 01

   The company said its net income available to common stockholders for the 9 months ended September 30, 2026 was $576 million, and diluted EPS was $1.86. For the same period in 2025, the figures were $775 million and $2.59, respectively. It said the period included impairment, disposal, and exit costs related to the planned divestments at NorthStar Clean Energy.

2. 02

   CMS Energy said its board approved on July 2026 a plan to sell some renewable energy projects of NorthStar Clean Energy and to exit non-utility renewable energy development. The projects involved are mainly those above 630 MW of net capacity outside Michigan. As of September 30, the related assets and liabilities were classified as held for sale.

3. 03

   Consumers filed an electric rate increase request of $481 million with the MPSC on June 2026, the company said, and revised the requested amount to $468 million on October 2026. The company also said the MPSC approved an annual gas rate increase of $139 million on October 2026, based on a 9.80% authorized return on equity, and the new rates take effect on November 2026.

4. 04

   The company said it entered into a common stock issuance program of up to $3 billion in May 2026, and that no shares had been issued under it. It added that as of September 30, 2026, CMS Energy had $736 million available under its revolving credit facility, and Consumers had $1.4 billion available.

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

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