Consumers Energy Company, a subsidiary of CMS Energy Corporation, reported a net income of $338 million for the first quarter of 2026, translating to diluted earnings per share (EPS) of $1.10. This marks an increase from the $302 million net income and diluted EPS of $1.01 recorded in the same period last year. The company's operating revenue for the quarter reached $2.73 billion, up from $2.45 billion in the prior year, driven by higher electric and gas utility revenues, which were partially offset by increased service restoration costs and higher depreciation and property taxes due to elevated capital spending.
In terms of operational metrics, Consumers Energy's electric deliveries to end-use customers increased to 9.1 billion kilowatt-hours (kWh) in 2026 from 9.0 billion kWh in 2025. The company also reported a stable customer base, with 84.1 million shares of common stock outstanding as of April 13, 2026. The company continues to focus on enhancing its electric distribution system, with a five-year Reliability Roadmap aimed at reducing outages through infrastructure upgrades and vegetation management.
Strategically, Consumers Energy has made significant moves in its energy portfolio, including the acquisition of the Covert Generating Station, which adds 1,200 megawatts (MW) of capacity. The company is also transitioning away from coal, having retired the D.E. Karn coal-fueled generating units in 2023 and planning to retire the J.H. Campbell units, totaling 1,407 MW, subject to regulatory approvals. In line with Michigan's 2023 Energy Law, Consumers aims to achieve 60% renewable energy by 2035 and 100% clean energy by 2040, with plans to invest $24.1 billion in capital expenditures through 2030.
Looking ahead, Consumers Energy anticipates weather-normalized electric deliveries to increase over the next five years, reflecting strong demand growth, although this may be partially offset by energy waste reduction programs. The company is also preparing for regulatory challenges, including a pending gas rate case seeking a $240 million increase based on a 10.25% authorized return on equity. Overall, Consumers Energy remains committed to delivering safe, reliable, and affordable energy while advancing its sustainability goals.
About CONSUMERS ENERGY CO
CMS Energy is an energy company operating primarily in Michigan, providing electric and natural gas utility services through its subsidiary Consumers. It manages electric generation, distribution, and gas transmission, serving residential, commercial, and industrial customers. The company also owns and invests in renewable and conventional power generation, including independent power production and energy marketing, emphasizing clean energy, environmental sustainability, and regulatory compliance.
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