DTE Energy(DTE) - 2025 Q2 - Quarterly Results

Q2 2025 Earnings and Business Update Financial Performance DTE Energy's Q2 2025 GAAP earnings decreased to $229 million ($1.10/share), with operating earnings at $283 million ($1.36/share) Q2 2025 vs Q2 2024 Earnings Comparison | Metric | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Reported Earnings | $229 million | $322 million | | Reported EPS (Diluted) | $1.10 | $1.55 | | Operating Earnings | $283 million | $296 million | | Operating EPS (Diluted) | $1.36 | $1.43 | Investments and Operational Accomplishments DTE is investing $4.4 billion in 2025 for infrastructure and clean energy, marked by solar project advancements and an industry award - The company is on pace to invest $4.4 billion in its utilities in 2025, with $1.8 billion invested in the first half of the year to improve infrastructure and transition to cleaner energy[1][3] - DTE aims to reduce outages by 30% and outage duration by 50% by 2029. Since 2023, the company has seen a 75% improvement in outage duration due to grid investments and other improvements[4] - Broke ground on Cold Creek Solar Park, a 100-megawatt project to help Ford Motor Company meet its renewable energy goals[4][5] - Began operations of the 80-megawatt Pine River Solar Park, which can power nearly 20,000 homes[10] - Received the 2025 Business Development Innovation Award from the Edison Electric Institute (EEI) for its business inclusion practices[3][10] 2025 Full-Year Outlook DTE Energy has confirmed its full-year 2025 operating earnings per share (EPS) guidance, maintaining the previously announced range - The company confirmed its 2025 operating EPS guidance range of $7.09 - $7.23[6] Detailed Financials Three Months Ended June 30 (Q2) DTE Electric contributed $318 million to Q2 2025 operating earnings, which totaled $283 million ($1.36/share), a decrease driven by Energy Trading and DTE Gas Segment Net Income (Q2) | Segment | Q2 2025 Operating Earnings (in millions) | Q2 2024 Operating Earnings (in millions) | | :--- | :--- | :--- | | DTE Electric | $318 | $279 | | DTE Gas | $6 | $12 | | DTE Vantage | $31 | $14 | | Energy Trading | $24 | $31 | | Corporate and Other | ($96) | ($40) | | Total | $283 | $296 | Segment Diluted EPS (Q2) | Segment | Q2 2025 Operating EPS | Q2 2024 Operating EPS | | :--- | :--- | :--- | | DTE Electric | $1.53 | $1.34 | | DTE Gas | $0.03 | $0.06 | | DTE Vantage | $0.15 | $0.08 | | Energy Trading | $0.12 | $0.15 | | Corporate and Other | ($0.47) | ($0.20) | | Total | $1.36 | $1.43 | Six Months Ended June 30 (YTD) DTE's YTD 2025 operating earnings increased to $719 million ($3.46/share), driven by stronger performance in DTE Gas, DTE Vantage, and Energy Trading Segment Net Income (YTD) | Segment | YTD 2025 Operating Earnings (in millions) | YTD 2024 Operating Earnings (in millions) | | :--- | :--- | :--- | | DTE Electric | $465 | $473 | | DTE Gas | $212 | $172 | | DTE Vantage | $70 | $22 | | Energy Trading | $58 | $36 | | Corporate and Other | ($86) | ($61) | | Total | $719 | $642 | Segment Diluted EPS (YTD) | Segment | YTD 2025 Operating EPS | YTD 2024 Operating EPS | | :--- | :--- | :--- | | DTE Electric | $2.24 | $2.28 | | DTE Gas | $1.02 | $0.83 | | DTE Vantage | $0.34 | $0.12 | | Energy Trading | $0.28 | $0.17 | | Corporate and Other | ($0.42) | ($0.30) | | Total | $3.46 | $3.10 | Disclosures Use of Operating Earnings and Forward-Looking Statements The company uses non-GAAP operating earnings for ongoing operations and includes forward-looking statements subject to various risks and uncertainties - Management uses operating earnings, a non-GAAP measure, as its primary performance metric for external communications and internal measurement because it is believed to represent earnings from ongoing operations[10][11] - The report contains forward-looking statements concerning financial conditions and results of operations, which are subject to risks and uncertainties such as regulation, economic conditions, and operational failures[11]