DTE Energy reports second quarter 2024 accomplishments, earnings and investments in improving energy infrastructure

Core Insights - DTE Energy is committed to enhancing electric reliability and transitioning to cleaner energy sources, with over $2 billion invested in the first half of 2024, aiming for a total of over $4 billion for the year [1][3] Financial Performance - DTE Energy reported second quarter earnings of $322 million, or $1.55 per diluted share, compared to $201 million, or $0.97 per diluted share in 2023 [2] - Operating earnings for the second quarter 2024 were $296 million, or $1.43 per diluted share, compared to $206 million, or $0.99 per diluted share in 2023 [2] Strategic Initiatives - The company aims to reduce power outages by 30% and cut outage duration in half over the next five years by modernizing the electric grid [3] - DTE Energy has begun construction on the region's largest battery energy storage facility, capable of storing 880 megawatt hours of electricity, enough to power nearly 40,000 homes [3] - The company collaborated with the NFL to make the 2024 NFL Draft carbon neutral, utilizing its renewable energy programs [3] - DTE Energy expanded its Energy Efficiency Academy to provide advanced training in clean energy, responding to the demand for energy-efficient home repairs [3] Outlook - DTE Energy confirmed its 2024 operating EPS guidance of $6.54 - $6.83, indicating strong financial health and continued investment in energy production and delivery improvements [4]