CMS Energy Corporation is an energy company operating primarily in Michigan. It is the parent holding company of several subsidiaries, including Consumers Energy, an electric and gas utility, and NorthStar Clean Energy, primarily a domestic independent power producer and marketer. Consumers' customer base consists of a mix of primarily residential, commercial, and diversified industrial customers. NorthStar Clean Energy is engaged in domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production.

• Employees: 8,356 (as of December 31, 2023)
• Geographic Footprint: Primarily Michigan
• Headquarters: Jackson, Michigan
• Founded: 1987
• Number of locations/facilities: Not specified
• Revenue: $7.5 billion (FY2023)
• Market Share: Not specified
• Key Subsidiaries/Brands: Consumers Energy, NorthStar Clean Energy

• CEO: Garrick J. Rochow
• CFO: Rejji P. Hayes
• Board Chair: Not specified
• Other Key Executives: Tonya L. Berry, Brandon J. Hofmeister, Shaun M. Johnson, Venkat Dhenuvakonda Rao, Brian F. Rich, LeeRoy Wells, Jr., Scott B. McIntosh

Key leaders have extensive experience within the energy and utility sectors. Executive tenures are noted in the provided 10-K.

• Annual Revenue: $7.5 billion (FY2023)
• Net Income: $877 million (FY2023)
• Market Cap: $17.063 billion (as of June 30, 2023)
• Total Assets: $33.517 billion (as of December 31, 2023)
• Number of Employees: 8,356 (as of December 31, 2023)
• Key Financial Highlights: CMS Energy's net income available to common stockholders was $877 million, and diluted EPS were $3.01. This compares with net income available to common stockholders of $827 million and diluted EPS of $2.85 in 2022.

CMS Energy operates primarily in three business segments:

• Electric Utility: Generation, purchase, distribution, and sale of electricity.
• Gas Utility: Purchase, transmission, storage, distribution, and sale of natural gas.
• NorthStar Clean Energy: Domestic independent power production, including the development and operation of renewable generation, and the marketing of independent power production.

CMS Energy operates principally in three business segments:

• Electric Utility: Generated operating revenue of $4.7 billion in 2023.
• Gas Utility: Generated operating revenue of $2.4 billion in 2023.
• NorthStar Clean Energy: Operating revenue was $297 million in 2023.

CMS Energy's and Consumers' strategic priorities include:

• Achieving world-class performance while delivering hometown service.
• Focusing on safety, quality, cost, delivery, and employee morale.
• Meeting customers' long-term energy needs through the Clean Energy Plan, which aims for net-zero carbon emissions from its electric business by 2040.
• Reducing methane emissions from its natural gas delivery system by 2030.
• Increasing renewable energy generation.
• Modernizing infrastructure.

CMS Energy operates in the energy industry, primarily in Michigan. Key market trends and competitive factors include:

• Primary Industry: Energy Utility
• Market Position: Not specified
• Key Competitors: DTE Electric and other independent power producers.
• Industry Trends: Transition to renewable energy, energy efficiency, and regulatory changes.

• Market Risks: Changes in energy markets, including availability, price, and seasonality of electric capacity and commodity prices.
• Operational Risks: Factors affecting CMS Energy's or Consumers' facilities, utility infrastructure, operations, or backup systems, such as costs and availability of personnel, equipment, and materials; weather and climate; natural disasters; fires; and cyber incidents.
• Financial Risks: The ability of CMS Energy and Consumers to execute cost-reduction strategies, access to capital markets, and execute their financing strategies.
• Regulatory Risks: Potentially adverse regulatory or legal interpretations or decisions regarding environmental matters, or delayed regulatory treatment or permitting decisions.