Filing Flows › CMS Energy (CMS) › Q3 2026 › vs Q3 2025
CMS Energy (CMS) Q3 2026 vs Q3 2025 (year over year)
CMS Energy's revenue rose $162M (+8%) from $2.0B in Q3 2025 to $2.2B in Q3 2026. The biggest changes: Utility Revenue +$124M (+6%); Other +$71.0M (+106%); Other revenues −$33.0M (-72%).
CMS Energy, Q3 2026: revenue $2.2B (+8% year over year), operating margin 2.2%, net loss $91.0M, operating cash flow $471M. The chart draws each line against Q3 2025, the increases inside each band.
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Utility Revenue | $2.0B | $1.9B | $124M | +6% |
| Other | $138M | $67.0M | $71.0M | +106% |
| Other revenues | $13.0M | $46.0M | −$33.0M | -72% |
| Revenue | $2.2B | $2.0B | $162M | +8% |
| Income tax benefit | $22.0M | −$68.0M | $90.0M | — |
| Net loss | $91.0M | −$272M | $363M | — |
| Costs & expenses | $2.3B | $2.0B | $275M | +14% |
| Operating costs | $2.1B | $1.5B | $596M | +39% |
| Interest & other, net | $160M | $141M | $19.0M | +13% |
| Operating cash sources | $562M | $71.0M | $491M | +692% |
| Depreciation & amortization | $298M | $288M | $10.0M | +3% |
| Working capital & other | $264M | −$217M | $481M | — |
| Net loss absorbed | $91.0M | −$272M | $363M | — |
| Operating cash flow | $471M | $343M | $128M | +37% |
| Capital expenditures | $939M | $978M | −$39.0M | -4% |
| Negative free cash flow (OCF − capex) | $468M | $635M | −$167M | -26% |
Questions
How much did CMS Energy's revenue grow year over year in Q3 2026?
CMS Energy's revenue rose $162M (+8%) from $2.0B in Q3 2025 to $2.2B in Q3 2026.
What drove CMS Energy's revenue change in Q3 2026?
Utility Revenue +$124M (+6%); Other +$71.0M (+106%); Other revenues −$33.0M (-72%).