Filing Flows › CMS Energy (CMS) › Q3 2026
CMS Energy (CMS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 27, 2026
CMS Energy (CMS) reported revenue of $2.2B for the third quarter 2026 (Q3 2026), +8% from a year earlier and +19% from the quarter before. Operating margin was 2.2%, net loss $91.0M (4.2% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +19% | +8% |
| Operating profit | $47.0M | -82% | -90% |
| Net earnings | −$91.0M | -176% | -133% |
| Operating cash flow | $471M | -24% | +37% |
What changed
Revenue was $2.2B in Q3 2026, up 8% year over year and up 19% from the previous quarter. Utility Revenue was the largest line at 93% of revenue. Utility Revenue added $0.12B year over year (up 6%), 77% of the total change.
Operating profit was $0.05B, a 2.2% margin (down 21.6 points year over year). Operating profit fell $0.43B even though revenue rose $0.16B versus Q3 2025, so costs grew faster than sales. Total costs grew 39% against revenue growth of 8%. The quarter ended with a net loss of $0.09B, after a profit of $0.10B the previous quarter. Minority interests bore $0.21B of it: to shareholders the quarter was a profit of $0.12B. Net interest and other expense of $0.16B was the main reason.
Operating cash flow was $0.47B (up 37% year over year). Non-cash charges added back $0.30B of depreciation and amortization. Working capital and other items added $0.26B. Capital expenditures of $0.94B exceeded it, leaving free cash flow of −$0.47B.
Questions
What was CMS Energy's revenue in the third quarter 2026?
CMS Energy (CMS) reported revenue of $2.2B for the third quarter 2026 (Q3 2026), +8% from a year earlier and +19% from the quarter before.
Was CMS Energy profitable in the third quarter 2026?
Operating profit was $47.0M (2.2% of revenue) and net loss $91.0M.
Source: CMS Energy 10-Q on SEC EDGAR.