DTE Energy(DTE)2025-05-02 20:17Investment and Infrastructure - DTE Energy invested over $850 million in its utilities in Q1 2025 and plans to invest $4.4 billion throughout the year to enhance electric reliability and renewable energy generation[1] - DTE Electric invested nearly $370 million in electric infrastructure improvements, resulting in a nearly 70% decrease in time spent without power for customers in 2024 compared to 2023[5] - The company began operations of Michigan's largest battery energy storage system, the Slocum Energy Center, with a capacity of 14 megawatts, capable of powering 2,500 homes[6] - DTE Energy aims to achieve more than 2,900 megawatts of energy storage by 2042, doubling its total energy storage capacity as part of its CleanVision Integrated Resource Plan[6] Financial Performance - The company reported Q1 2025 earnings of $445 million, or $2.14 per diluted share, compared to $313 million, or $1.51 per diluted share in Q1 2024, marking a 42% increase in earnings[2] - Operating earnings for Q1 2025 were $436 million, or $2.10 per diluted share, up from $346 million, or $1.67 per diluted share in the same period last year, reflecting a 26% increase[2] - DTE Energy confirmed its 2025 operating EPS guidance of $7.09 - $7.23, focusing on strong financial results and regulatory relationships[7] - Net income attributable to DTE Energy Company was $2.14 billion in Q1 2025, down from $1.51 billion in Q1 2024, indicating a decrease of 42%[16] - The overall performance indicates a mixed trend across segments, with some experiencing growth while others faced declines in earnings per share[16] Segment Performance - DTE Energy Company's diluted earnings per share for the DTE Electric segment was $0.59 for Q1 2025, compared to $0.83 in Q1 2024, reflecting a decrease of 29%[16] - The DTE Gas segment reported diluted earnings per share of $0.99 for Q1 2025, an increase from $0.74 in Q1 2024, representing a growth of 34%[16] - The Energy Trading segment's diluted earnings per share decreased to $0.16 in Q1 2025 from $0.32 in Q1 2024, a decline of 50%[16] - Non-utility operations reported a diluted earnings per share of $0.51 in Q1 2025, down from $0.35 in Q1 2024, showing a decrease of 46%[16] - Corporate and Other segment reported a diluted earnings per share of $0.05 in Q1 2025, unchanged from the previous year[16] - DTE Vantage segment reported earnings of $0.19 in Q1 2025, consistent with the previous year[16] Employee Engagement and Community Support - DTE Energy was recognized as a Gallup Exceptional Workplace for the 13th consecutive year, indicating high employee engagement[10] - The company awarded $5,000 grants to three small businesses in Michigan for energy efficiency upgrades as part of its Energy Efficiency Makeover contest[10] Customer Base and Commitment - DTE Energy serves 2.3 million electric customers and 1.3 million natural gas customers across Michigan, emphasizing its commitment to renewable energy and carbon reduction goals[9]