DTE Energy's Q3 Earnings Surpass Estimates, Increase Y/Y

Core Insights - DTE Energy Company reported third-quarter 2024 operating earnings per share (EPS) of $2.22, exceeding the Zacks Consensus Estimate of $1.87 by 18.7% and showing a 54.2% increase from the previous year's EPS of $1.44 [1] - The company’s GAAP earnings were $2.30 per share, compared to $1.61 in the same quarter last year [1] Financial Performance - The operating net income for the quarter was $460 million, up from $298 million in the year-ago period [2] - DTE Electric segment's operating earnings were $2.11 per share, an increase from $1.30 in the prior-year quarter [3] - DTE Gas segment reported an operating loss of 6 cents per share, compared to a loss of 3 cents in the previous year [3] - Non-Utility Operations reported operating earnings of 27 cents per share, down from 43 cents in the third quarter of 2023 [3] Future Guidance - DTE Energy reiterated its 2024 operating EPS projection, expecting it to be in the range of $6.54-$6.83, with the Zacks Consensus Estimate at $6.70 per share, near the midpoint of the company's guidance [4] Market Position - DTE Energy currently holds a Zacks Rank 2 (Buy) [5]