Core Points - DTE Energy will announce its first quarter 2025 earnings on May 1, 2025, before the market opens [1] - A conference call to discuss the earnings results will take place at 9:00 a.m. ET on the same day [1] - The call will be accessible via a live internet broadcast and telephone dial-in options [2] Company Overview - DTE Energy is a diversified energy company based in Detroit, serving 2.3 million electric customers and 1.3 million natural gas customers in Michigan [3] - The company focuses on custom energy solutions, renewable energy generation, and energy marketing and trading [3] - DTE Energy is committed to carbon reduction goals and engages in various community initiatives [3]

Group 1: DTE Energy's Renewable Energy Initiatives - DTE Energy has commenced construction on a 100-megawatt solar array, Cold Creek Solar Park, which is expected to be completed in 2026 [1] - The company has invested $4.6 billion in renewable energy infrastructure since 2009 and plans to invest an additional $4 billion in the coming years [4] - DTE's renewable energy portfolio includes 20 wind parks and 34 solar parks, all located in Michigan [4] Group 2: Ford Motor Company's Commitment to Sustainability - Ford has made the largest purchase of renewable energy from a utility in U.S. history, acquiring 650 megawatts from DTE's CleanVision MIGreenPower program [2] - This partnership will help Ford avoid approximately 600,000 tons of carbon dioxide emissions annually and supports its goal of achieving carbon neutrality by 2050 [3] - Ford aims to use 100% carbon-free electricity in its global manufacturing facilities by 2035 [3] Group 3: Impact on Local Communities and Climate Goals - The collaboration between DTE and Ford is expected to enhance local Michigan communities' resilience to climate change impacts [4] - DTE's new solar parks, totaling 800 megawatts, will provide enough clean energy to power over 220,000 homes, contributing to the State of Michigan's clean energy goals [5] - DTE is committed to achieving net zero carbon emissions and has accelerated its carbon reduction goals [5]

Core Viewpoint - DTE Energy is positioned well to potentially beat earnings estimates in its upcoming quarterly report, supported by a solid history of exceeding expectations [1]. Earnings Performance - DTE Energy has a strong track record of surpassing earnings estimates, with an average surprise of 11.07% over the last two quarters [2]. - In the last reported quarter, DTE Energy achieved earnings of $1.51 per share, exceeding the Zacks Consensus Estimate of $1.46 per share by 3.42%. In the previous quarter, the company reported earnings of $2.22 per share against an expectation of $1.87 per share, resulting in a surprise of 18.72% [3]. Earnings Estimates - Recent estimates for DTE Energy have been trending upward, with a positive Zacks Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [6]. - The current Earnings ESP for DTE Energy is +1.69%, suggesting that analysts have recently become more optimistic about the company's earnings prospects [9]. Predictive Metrics - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [7]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [8].

Core Viewpoint - DTE Energy is focusing on long-term capital expenditures to enhance its infrastructure and renewable energy portfolio, but it faces financial challenges and risks in its energy trading business [1][5][6]. Group 1: Capital Expenditure and Growth Plans - DTE Energy plans to invest a total of $30 billion over the next five years, representing a 20% increase from its previous five-year investment plan, aiming for a long-term operating earnings growth rate of 6-8% [2]. - The company is expanding its clean energy generation portfolio, with its DTE Electric subsidiary having put 2,300 megawatts (MW) of renewable energy into service as of December 31, 2024, and plans to invest over $11 billion in clean energy transition over the next decade [3]. - DTE Vantage, a non-utility business segment, plans to invest between $1.5 billion and $2 billion in renewable energy and tailored energy solutions from 2025 to 2029, supporting long-term sustainability goals [4]. Group 2: Financial Position and Risks - As of December 31, 2024, DTE Energy's cash and cash equivalents totaled $0.09 billion, while its long-term debt was $20.69 billion, indicating a weak solvency position [5]. - The company anticipates ongoing challenges in its Energy Trading business due to fluctuations in commodity prices and regulatory changes, which may impact profitability [6]. Group 3: Stock Performance - Over the past year, DTE shares have increased by 20.4%, outperforming the industry's growth of 13.5% [7].

Core Points - The DTE Energy Foundation is inviting nonprofits in Michigan to apply for funding through its Community Empowerment Awards program, with a total of $150,000 available for distribution among selected organizations [1][3] - Project proposals can be submitted for amounts up to $50,000, with the application deadline set for May 16 [2] - The Foundation aims to transform underserved communities by enhancing safety, expanding opportunities, and providing supportive services, focusing on placemaking and community-driven solutions [3][4] Funding and Eligibility Criteria - The DTE Foundation provided $14.5 million in grants to 375 nonprofit organizations in 2024, emphasizing community transformation and other priority areas [4] - Eligible applicants must be legally established 501(c)(3) public charities, located in Michigan, and must demonstrate the capacity to manage the grant [5] - Projects must not be energy-related, and the Foundation must be the majority contributor to the overall project, with a requirement for a long-term sustainability plan [5]

Core Viewpoint - DTE Energy is focusing on long-term capital expenditures to enhance its infrastructure and expand its renewable generation portfolio, but it faces financial challenges and risks in its energy trading business [1][5][6]. Group 1: Capital Expenditure Plans - DTE Energy plans to invest a total of $30 billion over the next five years to maintain and enhance the reliability of its electric and natural gas utility infrastructure, aiming for a long-term operating earnings growth rate of 6-8% [2]. - The company has invested 2,300 megawatts (MW) of renewable energy into service as of December 31, 2024, and is developing a 220 MW battery energy storage facility, with over $11 billion expected to be invested in the clean energy transition over the next decade [3]. - DTE Vantage, a non-utility segment, plans to invest $1.5-$2 billion in renewable energy and customized energy solutions between 2025 and 2029, diversifying the company's earnings stream [4]. Group 2: Financial Position and Risks - As of December 31, 2024, DTE Energy's cash and cash equivalents totaled $0.09 billion, while its long-term debt was $20.69 billion, indicating a weak solvency position [5]. - The company anticipates ongoing challenges in its Energy Trading business due to fluctuations in commodity prices and regulatory changes, which may impact profitability [6]. Group 3: Stock Performance - Over the past six months, DTE Energy's shares have increased by 7.1%, outperforming the industry's growth of 0.6% [7].

Financial Performance - DTE Energy reported 2024 earnings of $1.4 billion, or $6.77 per diluted share, compared to $1.4 billion, or $6.76 per diluted share in 2023[3]. - Operating earnings for 2024 were $1.4 billion, or $6.83 per diluted share, up from $1.2 billion, or $5.73 per diluted share in 2023[3]. - DTE Energy Company's net income attributable to the company for Q4 2024 was $292 million, compared to $314 million in Q4 2023, reflecting a decrease of 7%[15]. - The diluted earnings per share for Q4 2024 was $1.41, down from $1.51 in Q4 2023, representing a decline of 7%[17]. - For the full year 2024, net income attributable to DTE Energy Company was $1.404 billion, a slight increase from $1.397 billion in 2023, reflecting a growth of 0.5%[20]. - The diluted earnings per share for the full year 2024 was $6.77, compared to $6.76 in 2023, showing a marginal increase of 0.1%[22]. Infrastructure Investment - The company invested a record $4 billion in utility infrastructure in 2024, resulting in a nearly 70% reduction in time spent without power for customers[2][4]. - DTE Electric invested over $2.5 billion in infrastructure improvements and $1.1 billion in cleaner generation in 2024[2]. - DTE Gas invested $740 million to upgrade its natural gas system and expand service to rural communities[2]. - The company invested a record $3.3 billion in local businesses in 2024, creating and sustaining nearly 14,000 jobs across Michigan[5][7]. Renewable Energy Initiatives - DTE's initiatives aim to achieve net zero carbon emissions by 2050 and meet Michigan's renewable energy standard of 60% by 2035[6]. - DTE launched its largest solar park, Sauk Solar, a 150-megawatt facility capable of powering approximately 40,000 homes[6]. Segment Performance - The DTE Electric segment reported operating earnings of $195 million in Q4 2024, a decrease from $244 million in Q4 2023, indicating a decline of 20%[15]. - The DTE Gas segment maintained consistent operating earnings of $104 million for both Q4 2024 and Q4 2023[15]. - The DTE Vantage segment's operating earnings for the full year 2024 were $133 million, down from $153 million in 2023, a decrease of 13%[20]. - The Energy Trading segment reported a significant drop in operating earnings from $336 million in 2023 to $100 million in 2024, a decline of 70%[20]. Future Outlook - DTE Energy's 2025 operating EPS guidance is set at $7.09 - $7.23[8]. - DTE Energy Company plans to continue focusing on market expansion and new technology development to enhance operational efficiency and profitability[15]. Customer Support - The company provided $144 million in energy assistance to vulnerable customers, connecting them to over $660 million in financial aid over the last five years[6]. Operational Changes - The company has implemented a voluntary separation incentive program, which resulted in one-time costs impacting operating expenses[21].

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2024 Year-end Earnings Conference Call February 13, 2025 Safe harbor statement The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information or future events or developments. Words such as "anticipate," "believe," "expect," "may," "could," "projected," "aspiration," "plans" and "goals" signify forward-looking statements. Forward-looking statements are ...

Financial Data and Key Metrics Changes - The company achieved operating EPS of $6.83 per share in 2024, representing over 9% growth compared to the 2023 original guidance midpoint [9][45]. - The 2025 operating EPS guidance range is set at $7.09 to $7.23, with a midpoint of $7.16, indicating a 7% growth over the 2024 original guidance midpoint [10][50]. - Operating earnings for the year were $1.4 billion, with DTE Electric earnings at $1.1 billion, an increase of $314 million from 2023 [45][46]. Business Line Data and Key Metrics Changes - DTE Electric's earnings increased by $314 million due to base rate implementation, warmer weather, and lower storm expenses [46]. - DTE Gas reported operating earnings of $263 million, which is $31 million lower than 2023, primarily due to warmer winter conditions [46][47]. - DTE Vantage had earnings of $133 million, with performance impacted by timing and one-time items in 2023 [48]. Market Data and Key Metrics Changes - The company plans to invest $30 billion over the next five years, a $5 billion increase from the previous plan, focusing on reliability and cleaner generation [12][58]. - DTE Electric is investing $24 billion over the next five years, which is $4 billion higher than the prior plan, to support cleaner generation and improve reliability [27][58]. - The company has secured 2,300 megawatts of renewable generation in service, with additional projects totaling over 1,000 megawatts coming online [26][28]. Company Strategy and Development Direction - The company aims for a long-term operating EPS growth target of 6% to 8% through 2029, with a focus on utility investments and transitioning to cleaner generation [7][58]. - DTE is strategically shifting its Vantage investments to utility-like projects that provide solid long-term contracted earnings [13][20]. - The company is focusing on data center opportunities, which could drive significant load growth and enhance customer affordability [21][22]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the higher end of the EPS guidance range for 2025, supported by favorable tax credits and a strong investment plan [10][20]. - The company is committed to maintaining affordability for customers while investing in infrastructure improvements and renewable energy [22][37]. - Management highlighted a strong regulatory environment and supportive energy policies as key factors for future growth [23][58]. Other Important Information - The company received a constructive rate order at DTE Electric, which supports its investment agenda and customer-focused initiatives [17][31]. - DTE has a strong balance sheet and minimal equity issuances planned, targeting annual issuances of $0 to $100 million through 2027 [55][56]. - The company has been recognized for its employee engagement, ranking in the 94th percentile globally, which is seen as a key driver of its success [9]. Q&A Session Summary Question: Clarification on CapEx plan updates and data center upside - Management noted that the benefits from data centers have not yet been included in the five-year plan, but there is significant upside potential as agreements progress [64][65]. Question: Impact of RNG credits on growth and cash flow profile - Management indicated that the stronger EPS growth is primarily driven by utility investments, with no assumptions on tax credits beyond 2027 [70][72]. Question: Data center demand and load growth - Management projected a 4% to 5% CAGR increase in load growth due to data center developments, which is expected to enhance customer affordability [82]. Question: Rate filing cadence and its impact on 2025 execution - Management expressed confidence in achieving the high end of the guidance for 2025, with a constructive rate order supporting their capital deployment plans [84][86]. Question: Financing considerations and cash flow drivers - Management confirmed a minimal equity issuance plan for 2025, driven by strong cash flows and tax credits, with potential increases in equity needs in later years [94][95]. Question: Opportunities in Vantage and project focus - Management highlighted a conservative plan for Vantage, focusing on long-term fixed-fee contracts and potential growth in carbon capture projects [99][100].