Every material Form 8-K CMS Energy has filed with the SEC since April 25, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On November 3, 2026, CMS Energy issued and sold $1 billion of 6.800% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 under a shelf registration. The company plans to use the net proceeds to repay its $275 million 2.95% Senior Notes due February 2027 and its $350 million 3.45% Senior Notes due August 2027, and for general corporate purposes. The filing mainly adds offering documents as exhibits to the registration statement.
$1,000,000,000 principal of 6.800% junior subordinated notes due 2057 issued November 3, 2026, under shelf registration No. 333-293382
Proceeds earmarked to repay $275 million 2.95% senior notes due February 2027 and $350 million 3.45% senior notes due August 2027, plus general corporate purposes
Estimated offering expenses total $1,800,000, including $1,550,350 in rating agency fees
Underwriters named include Deutsche Bank Securities, J.P. Morgan Securities, Mizuho Securities, Morgan Stanley, MUFG Securities Americas and Wells Fargo Securities
CMS Energy reported third-quarter 2026 GAAP earnings of $0.39 per diluted share, down from $0.92 a year earlier, after asset impairment and restructuring charges tied to NorthStar Clean Energy. Adjusted earnings per share rose to $1.44 from $0.93, and the company reaffirmed its 2026 and 2027 adjusted EPS guidance, which means shareholders see a large one-time charge in reported results while the company's adjusted outlook is unchanged.
Q3 2026 operating revenue was $2,183 million, up from $2,021 million in Q3 2025.
Q3 2026 net income available to common stockholders was $121 million, compared with $275 million a year earlier.
Reaffirmed 2026 adjusted EPS guidance of $3.83 to $3.90 per share and 2027 guidance of $4.08 to $4.17.
Asset impairment and restructuring activities added $1.08 per share to the quarter's reconciling items, with a $0.39 GAAP reported figure.
CMS Energy reported second-quarter 2026 diluted earnings of $0.37 per share, down from $0.66 a year earlier, and adjusted EPS of $0.37 versus $0.71. The company also said it is exiting non-utility renewables development at NorthStar Clean Energy and reaffirmed 2026 adjusted EPS guidance of $3.83 to $3.90 while introducing 2027 guidance of $4.08 to $4.17, which matters to shareholders because it sets the company's near-term earnings outlook after a weaker quarter.
Q2 2026 operating revenue was $1,829 million versus $1,838 million in Q2 2025; net income available to common stockholders was $117 million versus $198 million
First-half 2026 diluted EPS was $1.47 versus $1.67; adjusted EPS was $1.50 versus $1.73
2026 adjusted EPS guidance of $3.83 to $3.90 was reaffirmed, with confidence toward the high end; 2027 guidance is $4.08 to $4.17
NorthStar Clean Energy strategic review completed; the company retains Dearborn Industrial Generation and Michigan solar projects and targets restructuring completion by year-end 2026
CMS Energy announced that Rejji P. Hayes retired as executive vice president and chief financial officer effective June 3, 2026, and that Srikanth (Sri) Maddipati, 43, succeeded him in the role the same day. The company also reaffirmed on June 3, 2026 the guidance it gave on April 28, 2026, which signals no change to its outlook in the filing.
Srikanth (Sri) Maddipati, 43, named executive vice president and CFO of CMS Energy and Consumers Energy, effective June 3, 2026; he joined the company in 2014 as assistant treasurer
Maddipati's base salary set at $775,000 annually, with a standard incentive award of 80% of base salary, both effective June 3, 2026
Maddipati to receive $750,000 in tenure-based restricted stock that cliff vests on his third-year service anniversary
CMS Energy reaffirmed its guidance as of June 3, 2026, as provided on April 28, 2026; Chris Fultz named president of electric supply, effective June 3
CMS Energy reported first-quarter 2026 diluted earnings of $1.10 per share, up from $1.01 a year earlier, and adjusted earnings of $1.13 per share, up from $1.02. The company reaffirmed its 2026 adjusted EPS guidance of $3.83 to $3.90 per share and said it expects results toward the high end of that range, which matters to shareholders because it signals no change to the outlook after a quarter of higher revenue and profit.
Operating revenue rose to $2,730 million from $2,447 million, while operating income was $490 million compared with $494 million.
Net income available to common stockholders was $338 million, up from $302 million.
2026 adjusted EPS guidance of $3.83 to $3.90 was reaffirmed, with long-term adjusted EPS growth of 6 to 8 percent unchanged.
Results were presented on a webcast on April 28, 2026 at 10:00 a.m. ET.
CMS Energy and its subsidiary Consumers Energy elected Diane Leopold and Richard P. Keyes to their boards of directors, effective February 20, 2026. Both boards increased their membership from nine to eleven, and the new directors take committee seats, including Leopold on Compensation and Human Resources and Finance, and Keyes on Audit and Governance, Sustainability and Public Responsibility. The filing describes board composition changes and does not report any financial results or guidance.
Diane Leopold, retired EVP and chief operating officer of Dominion Energy, joins the boards and the Compensation and Human Resources and Finance committees
Richard P. Keyes, president and CEO of Meijer, Inc., joins the boards and the Audit and Governance, Sustainability and Public Responsibility committees
Both boards increased authorized membership from nine to eleven members
Each new director will receive a pro-rata restricted stock grant and enter into Director Indemnification Agreements
CMS Energy reported 2025 diluted earnings per share of $3.53, up from $3.33 in 2024, and adjusted EPS of $3.61 versus $3.34. Operating revenue rose to $8.5 billion from $7.5 billion, and the company raised its 2026 adjusted EPS guidance to $3.83 to $3.90 from $3.80 to $3.87. For shareholders, the filing shows higher 2025 earnings, a higher 2026 earnings outlook, and an 11-cent increase in the annual dividend.
2025 diluted EPS was $3.53 versus $3.33 in 2024; adjusted EPS was $3.61 versus $3.34
2026 adjusted EPS guidance raised to $3.83 to $3.90 from $3.80 to $3.87; long-term adjusted EPS growth of 6 to 8 percent reaffirmed
Annual dividend increased 11 cents per share to $2.28 for 2026, the 20th increase in as many years
Fourth-quarter 2025 diluted EPS was $0.94 versus $0.87 a year earlier; webcast set for February 5, 2026 at 10:00 a.m. ET
CMS Energy increased its unsecured revolving credit facility from $550 million to $750 million, and Consumers Energy amended its $1.1 billion secured facility, both now expiring November 21, 2030. Consumers also opened a new $300 million secured facility and extended a $250 million Bank of Nova Scotia credit agreement to November 28, 2025. The filing describes routine refinancing of credit lines, with the company stating the drawings will be used for general corporate purposes and working capital.
CMS Energy's unsecured revolving credit facility rose from $550 million to $750 million.
Consumers' $1.1 billion secured revolving facility was amended and restated, with both facilities expiring November 21, 2030, subject to two one-year extensions.
Consumers entered a new $300 million secured revolving facility expiring November 21, 2028.
Consumers extended its Bank of Nova Scotia credit agreement termination date to November 28, 2025.
CMS Energy reported third-quarter 2025 diluted EPS of $0.92, up from $0.84 a year earlier, and adjusted EPS of $0.93 versus $0.84. The company raised its 2025 adjusted EPS guidance to $3.56 to $3.60 from $3.54 to $3.60 and initiated 2026 adjusted EPS guidance of $3.80 to $3.87, which gives shareholders updated earnings expectations for both years.
Q3 2025 operating revenue was $2,021 million, compared with $1,743 million in Q3 2024; net income available to common stockholders was $275 million, compared with $251 million.
Year-to-date adjusted EPS was $2.66, compared with $2.47 a year earlier, which the company attributed largely to constructive regulatory outcomes and favorable weather.
The company reaffirmed long-term adjusted EPS growth of 6% to 8%, with continued confidence toward the high end, and will host a webcast on October 30 at 9:30 a.m. ET.
CMS Energy reported second-quarter 2025 diluted EPS of $0.66, up from $0.65 a year earlier, and adjusted EPS of $0.71, up from $0.66. Operating revenue rose to $1,838 million from $1,607 million. The company reaffirmed its 2025 adjusted EPS guidance of $3.54 to $3.60 per share, so shareholders' full-year expectations were not changed.
Q2 2025 operating revenue was $1,838 million, compared with $1,607 million in Q2 2024.
Q2 2025 net income available to common stockholders was $198 million, compared with $195 million; diluted EPS was $0.66 versus $0.65.
Adjusted EPS was $0.71 versus $0.66; the adjustments include a state tax policy change worth $0.04 per share.
2025 adjusted EPS guidance of $3.54 to $3.60 was reaffirmed, with long-term adjusted EPS growth of 6% to 8%; the company also reached an agreement with a new data center expected to add up to 1 gigawatt of load.
Kurt Darrow, a director of CMS Energy and Consumers Energy since 2013, told both companies on June 5, 2025 that he will retire from their boards effective July 1, 2025. The filing says the decision is personal and not due to any disagreement with either company, so this is a routine board change with no stated financial impact.
Kurt Darrow has served on the CMS Energy and Consumers Energy boards since 2013.
Retirement notice given June 5, 2025; effective date July 1, 2025.
Filing states the departure is personal and not due to any disagreement with the companies.
CMS Energy announced a new corporate organizational structure with new leadership roles and business units, effective July 1, 2025. Tonya Berry will be named executive vice president and chief operating officer, and several other executives were given expanded or new responsibilities. The filing gives no financial figures, so the change is organizational and its effect on results is not quantified.
New structure takes effect July 1, 2025, with four key business units
Tonya Berry named executive vice president and chief operating officer for Operations & Engineering
Shaun Johnson named executive vice president of business transformation and chief legal and administrative officer
Rejji Hayes, chief financial officer, takes on responsibility for NorthStar Clean Energy
CMS Energy reported first-quarter 2025 diluted EPS of $1.01, up from $0.96 a year earlier, and adjusted EPS of $1.02, up from $0.97. It reaffirmed 2025 adjusted EPS guidance of $3.54 to $3.60 per share, with continued confidence toward the high end, so earnings rose and the outlook was held steady for shareholders.
Diluted EPS $1.01 vs $0.96 in Q1 2024; adjusted EPS $1.02 vs $0.97
Operating revenue $2,447 million vs $2,176 million; net income available to common stockholders $302 million vs $285 million
2025 adjusted EPS guidance reaffirmed at $3.54 to $3.60; long-term adjusted EPS growth of 6 to 8 percent
Management cited a constructive electric rate case order in March; webcast on April 24 at 9:30 a.m. ET
CMS Energy reported full-year 2024 diluted EPS of $3.33, up from $3.01, and adjusted EPS of $3.34, up from $3.11. It raised its 2025 adjusted EPS guidance to $3.54 to $3.60 from $3.52 to $3.58 and increased its annual dividend by 11 cents to $2.17 per share. Fourth-quarter results were lower than a year earlier, with diluted EPS of $0.87 compared with $1.05.
Full-year 2024 operating revenue was $7.5 billion ($7,515 million) versus $7.5 billion ($7,462 million) in 2023, and net income available to common stockholders was $993 million versus $877 million.
Fourth-quarter 2024 net income available to common stockholders was $262 million, down from $306 million in the fourth quarter of 2023.
2025 adjusted EPS guidance was raised to $3.54 to $3.60 from $3.52 to $3.58 per share, and long-term adjusted EPS growth of 6 to 8 percent was reaffirmed.
The company's 2025 annual dividend is $2.17 per share, up 11 cents, its 19th consecutive annual increase.
CMS Energy reported third-quarter 2024 diluted EPS of $0.84, up from $0.60 a year earlier, and adjusted EPS of $0.84 versus $0.61. It reaffirmed 2024 adjusted EPS guidance of $3.29 to $3.35 and introduced 2025 adjusted EPS guidance of $3.52 to $3.58, which shareholders can use to compare future results.
Q3 2024 operating revenue was $1,743 million, up from $1,673 million; net income available to common stockholders was $251 million, up from $174 million.
Nine-month 2024 diluted EPS was $2.45 versus $1.96; adjusted EPS was $2.47 versus $2.06, which the company attributed largely to constructive regulatory outcomes and solid performance at NorthStar Clean Energy.
2024 adjusted EPS guidance of $3.29 to $3.35 was reaffirmed, with confidence toward the high end; long-term adjusted EPS growth of 6 to 8 percent was also reaffirmed.
The company will hold a webcast on October 31, 2024 at 9:30 a.m. ET to discuss results and its outlook.
CMS Energy reported second-quarter 2024 diluted earnings of $0.65 per share, down from $0.67 a year earlier, and adjusted earnings of $0.66 per share, down from $0.75. Operating revenue rose to $1,607 million from $1,555 million, and the company reaffirmed its 2024 adjusted EPS guidance of $3.29 to $3.35 per share, with confidence toward the high end.
Q2 2024 diluted EPS $0.65 vs. $0.67 in Q2 2023; adjusted EPS $0.66 vs. $0.75
Q2 2024 operating revenue $1,607 million vs. $1,555 million in Q2 2023
First-half 2024 reported EPS $1.61 vs. $1.36; adjusted EPS $1.63 vs. $1.45, citing constructive regulatory outcomes and higher weather-normalized sales
2024 adjusted EPS guidance of $3.29 to $3.35 reaffirmed; webcast on July 25, 2024 at 9:30 a.m. ET
CMS Energy reported first-quarter 2024 diluted EPS of $0.96, up from $0.69 a year earlier, and adjusted EPS of $0.97 versus $0.70, citing higher weather-normalized sales and lower storm restoration costs. Operating revenue fell to $2,176 million from $2,284 million, and the company reaffirmed its 2024 adjusted EPS guidance of $3.29 to $3.35 per share, with confidence toward the high end.
Diluted EPS $0.96 vs $0.69 in Q1 2023; adjusted EPS $0.97 vs $0.70
Operating revenue $2,176 million vs $2,284 million in Q1 2023
Net income available to common stockholders $285 million vs $202 million
2024 adjusted EPS guidance of $3.29 to $3.35 reaffirmed; long-term adjusted EPS growth of 6 to 8 percent
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