Every material Form 8-K CMS Energy filed with the SEC in 2025, 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.
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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every CMS Energy filing is on SEC EDGAR ↗. 8-K briefs of other companies →