DTE Energy(US:DTE)2023-11-01 17:13Financial Performance & Guidance - DTE Energy revised its operating EPS guidance downward from $6.09-$6.40 to $5.65-$5.85[4] - The company identified $265 million of annualized offsets to headwinds, equivalent to $1.29 per share[62] - DTE Electric's 2023 earnings decreased by $95 million, from $363 million in 2022 to $268 million in 2023, due to cooler weather, higher storm expenses, and higher rate base costs[3] - DTE Vantage's earnings increased by $30 million, from $26 million in 2022 to $56 million in 2023, driven by RNG and steel-related earnings[3] - Energy Trading saw an increase of $51 million, moving from a loss of $20 million in 2022 to a profit of $31 million in 2023, attributed to physical power portfolio performance[3] Capital Investment & Cash Flow - Capital expenditures for DTE Electric totaled $2.244 billion YTD 3Q 2023, compared to $1.867 billion in YTD 3Q 2022[82] - DTE Gas's capital expenditures were $528 million YTD 3Q 2023, up from $475 million in YTD 3Q 2022[82] - The company anticipates capital expenditures between $4.185 billion and $4.285 billion in 2023[83] - Cash from operations increased from $1.4 billion YTD 3Q 2022 to $2.4 billion YTD 3Q 2023[82] Strategic Initiatives & Environmental Impact - DTE Energy is transitioning towards net-zero emissions at its utilities[33] - The company plans to cease coal use at one Belle River unit in 2025 and the remaining unit in 2026, converting to a 1,300 MW natural gas peaking resource[86, 123] - DTE is adding 1,200 MW of solar and 350 MW of energy storage[123]