DETROIT, July 24, 2019 /PRNewswire/ -- DTE Energy (NYSE:
DTE) today reported second quarter 2019 earnings of $182 million, or $0.99 per diluted share, compared with
$234 million, or $1.29 per diluted share in 2018.
Operating earnings for the second quarter 2019 were $183 million, or $0.99 per diluted share, compared with 2018
operating earnings of $247 million,
or $1.36 per diluted share. Operating
earnings exclude non-recurring items, certain mark-to-market
adjustments and discontinued operations. Reconciliations of
reported earnings to operating earnings are included at the end of
this news release.
"The company's second quarter performance builds on the success
of the first quarter, resulting in a strong first half of 2019. We
are ahead of plan and are entering the second half of the year in
good shape," said Jerry Norcia, DTE
Energy president and CEO. Norcia also noted the following recent
company accomplishments:
- Earned AGA Safety Achievement Award: Received third
American Gas Association Safety Achievement Award for excellence in
employee safety. The award, based on safety results in 2018,
recognizes companies that have the lowest number of employee
injuries and illnesses.
- Ranked as one of the country's top corporate citizens
by Points of Light: Only Michigan company named to the
Civic 50 – the top 50 companies nationwide in corporate
citizenship – by Points of Light, the world's largest organization
dedicated to volunteer service. DTE was also recognized as the
leading energy company nationally.
- Continued support of Michigan businesses: Spent over
$1 billion with Michigan-based companies in the first half of
this year, executing its commitment to the Pure Michigan Business
Connect local supplier initiative. This includes $480
million spent in the city of Detroit.
- Earned EEI Emergency Assistance Award: Edison Electric
Institute presented DTE Energy with the Emergency Assistance Award
for its outstanding power restoration efforts for a neighboring
utility after an ice storm hit the west side of Michigan in February.
- Ranked as a best employer nationally: Ranked on Indeed's
list of Top Employers in 2019 and was named one of Forbes' Best
Employers in Michigan.
- Launched Charging Forward program: Launched plans
to bring electric vehicles to more Michigan residents and businesses through its
new Charging Forward program which includes incentives, customer
education and charging infrastructure growth.
Outlook for 2019
DTE Energy increases 2019 operating EPS guidance from
$5.97 - $6.33 to $6.02 -
$6.38.
"The solid financial results we have achieved during the first
half of the year give us confidence in increasing our 2019 earnings
guidance. While last year's second quarter operating earnings were
boosted by record setting temperatures, we are on track to realize
our financial and operational goals for this year," said
Peter Oleksiak, DTE Energy senior
vice president and CFO.
This earnings announcement and presentation slides are available
at dteenergy.com/investors.
The company will conduct a conference call to discuss earnings
results at 9 a.m. ET. Investors, the
news media and the public may listen to a live internet broadcast
of the call at dteenergy.com/investors. The telephone dial-in
numbers in the U.S. and Canada are
toll free: (800) 458-4121 or international: (323) 794-2093. The
passcode is 5739101. The webcast will be archived on the DTE
website at dteenergy.com/investors. An audio replay of the call
will be available from noon today to noon Wednesday, Aug. 7. To access the replay, dial
U.S. and Canada toll free (888)
203-1112 or international toll (719) 457-0820 and enter the
passcode 5739101.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy
company involved in the development and management of
energy-related businesses and services nationwide. Its operating
units include an electric company serving 2.2 million customers
in Southeastern Michigan and a natural gas company
serving 1.3 million customers in Michigan. The DTE portfolio
includes energy businesses focused on natural gas pipelines,
gathering and storage, power and industrial projects, renewable
natural gas, and energy marketing and trading. As an environmental
leader, DTE will reduce carbon dioxide and methane emissions by
more than 80 percent by 2040 to produce cleaner energy while
keeping it safe, reliable and affordable. DTE is committed to being
a force for good in the communities where it serves through
volunteerism, education and employment initiatives, philanthropy
and economic progress. Information about DTE is available at
dteenergy.com, empoweringmichigan.com, twitter.com/DTE_Energy and
facebook.com.
Use of Operating Earnings Information - DTE Energy management
believes that operating earnings provide a more meaningful
representation of the company's earnings from ongoing operations
and uses operating earnings as the primary performance measurement
for external communications with analysts and investors.
Internally, DTE Energy uses operating earnings to measure
performance against budget and to report to the Board of
Directors.
In this release, DTE Energy discusses 2019 operating earnings
guidance. It is likely that certain items that impact the company's
2019 reported results will be excluded from operating results.
Reconciliations to the comparable 2019 reported earnings guidance
are not provided because it is not possible to provide a reliable
forecast of specific line items (i.e. future non-recurring items,
certain mark-to-market adjustments and discontinued operations).
These items may fluctuate significantly from period to period and
may have a significant impact on reported earnings.
The information contained herein is as of the date of this
release. DTE Energy expressly disclaims any current intention
to update any forward-looking statements contained in this release
as a result of new information or future events or
developments. Words such as "anticipate," "believe,"
"expect," "may," "could," "projected," "aspiration," "plans" and
"goals" signify forward-looking statements. Forward-looking
statements are not guarantees of future results and conditions but
rather are subject to various assumptions, risks and
uncertainties. This release contains forward-looking
statements about DTE Energy's financial results and estimates of
future prospects, and actual results may differ materially.
Many factors impact forward-looking statements including, but
not limited to, the following: impact of regulation by the EPA, the
FERC, the MPSC, the NRC, and for DTE Energy, the CFTC, as well as
other applicable governmental proceedings and regulations,
including any associated impact on rate structures; the amount and
timing of cost recovery allowed as a result of regulatory
proceedings, related appeals, or new legislation, including
legislative amendments and retail access programs; economic
conditions and population changes in the our geographic area
resulting in changes in demand, customer conservation, and thefts
of electricity and, for DTE Energy, natural gas; the operational
failure of electric or gas distribution systems or infrastructure;
impact of volatility of prices in the oil and gas markets on DTE
Energy's gas storage and pipelines operations; impact of volatility
in prices in the international steel markets on DTE Energy's power
and industrial projects operations; the risk of a major safety
incident; environmental issues, laws, regulations, and the
increasing costs of remediation and compliance, including actual
and potential new federal and state requirements; the cost of
protecting assets against, or damage due to, cyber incidents and
terrorism; health, safety, financial, environmental, and regulatory
risks associated with ownership and operation of nuclear
facilities; volatility in the short-term natural gas storage
markets impacting third-party storage revenues related to DTE
Energy; volatility in commodity markets, deviations in weather, and
related risks impacting the results of DTE Energy's energy trading
operations; changes in the cost and availability of coal and other
raw materials, purchased power, and natural gas; advances in
technology that produce power, store power or reduce power
consumption; changes in the financial condition of significant
customers and strategic partners; the potential for losses on
investments, including nuclear decommissioning and benefit plan
assets and the related increases in future expense and
contributions; access to capital markets and the results of other
financing efforts which can be affected by credit agency ratings;
instability in capital markets which could impact availability of
short and long-term financing; the timing and extent of changes in
interest rates; the level of borrowings; the potential for
increased costs or delays in completion of significant capital
projects; changes in, and application of, federal, state, and local
tax laws and their interpretations, including the Internal Revenue
Code, regulations, rulings, court proceedings, and audits; the
effects of weather and other natural phenomena on operations and
sales to customers, and purchases from suppliers; unplanned
outages; employee relations and the impact of collective bargaining
agreements; the availability, cost, coverage, and terms of
insurance and stability of insurance providers; cost reduction
efforts and the maximization of plant and distribution system
performance; the effects of competition; changes in and application
of accounting standards and financial reporting regulations;
changes in federal or state laws and their interpretation with
respect to regulation, energy policy, and other business issues;
contract disputes, binding arbitration, litigation, and related
appeals; and the risks discussed in the Registrants' public filings
with the Securities and Exchange Commission.
DTE Energy
Company
|
Segment Net Income
(Unaudited)
|
|
|
|
Three Months Ended
June 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
(In
millions)
|
DTE
Electric
|
$
|
133
|
|
|
$
|
(11)
|
|
A
|
|
$
|
3
|
|
|
|
$
|
134
|
|
|
$
|
163
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
|
$
|
163
|
|
|
|
|
13
|
|
B
|
|
(4)
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
8
|
|
|
(6)
|
|
A
|
|
2
|
|
|
|
4
|
|
|
14
|
|
|
—
|
|
|
|
—
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
50
|
|
|
—
|
|
|
|
—
|
|
|
|
50
|
|
|
60
|
|
|
—
|
|
|
|
—
|
|
|
|
60
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
29
|
|
|
—
|
|
|
|
—
|
|
|
|
29
|
|
|
43
|
|
|
—
|
|
|
|
—
|
|
|
|
43
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
(6)
|
|
|
5
|
|
C
|
|
(1)
|
|
|
|
(2)
|
|
|
(5)
|
|
|
17
|
|
C
|
|
(4)
|
|
|
|
8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
73
|
|
|
5
|
|
|
|
(1)
|
|
|
|
77
|
|
|
98
|
|
|
17
|
|
|
|
(4)
|
|
|
|
111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(32)
|
|
|
—
|
|
|
|
—
|
|
|
|
(32)
|
|
|
(41)
|
|
|
—
|
|
|
|
—
|
|
|
|
(41)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
182
|
|
|
$
|
1
|
|
|
|
$
|
—
|
|
|
|
$
|
183
|
|
|
$
|
234
|
|
|
$
|
17
|
|
|
|
$
|
(4)
|
|
|
|
$
|
247
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excluding
tax related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 26% for the
three months ended June 30, 2019 and 27% for the three months ended
June 30, 2018.
|
|
Adjustments
key
|
A) MPSC
approval of the deferral for the new customer billing system
post-implementation expenses — recorded in Operating Expenses —
Operation and maintenance
|
B) MPSC
disallowance of power plant capital expenses — recorded in
Operating Expenses — Asset (gains) losses and impairments,
net
|
C) Certain
adjustments resulting from derivatives being marked-to-market
without revaluing the underlying non-derivative contracts and
assets — recorded in Operating Expenses — Fuel, purchased power,
and gas — non-utility
|
|
DTE Energy
Company
|
Segment Diluted
Earnings Per Share (Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
(In
millions)
|
DTE
Electric
|
$
|
0.72
|
|
|
$
|
(0.06)
|
|
A
|
|
$
|
0.02
|
|
|
|
$
|
0.73
|
|
|
$
|
0.90
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
|
$
|
0.90
|
|
|
|
|
0.07
|
|
B
|
|
(0.02)
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
0.04
|
|
|
(0.03)
|
|
A
|
|
0.01
|
|
|
|
0.02
|
|
|
0.08
|
|
|
—
|
|
|
|
—
|
|
|
|
0.08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
0.27
|
|
|
—
|
|
|
|
—
|
|
|
|
0.27
|
|
|
0.33
|
|
|
—
|
|
|
|
—
|
|
|
|
0.33
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
0.16
|
|
|
—
|
|
|
|
—
|
|
|
|
0.16
|
|
|
0.24
|
|
|
—
|
|
|
|
—
|
|
|
|
0.24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
(0.04)
|
|
|
0.02
|
|
C
|
|
(0.01)
|
|
|
|
(0.03)
|
|
|
(0.03)
|
|
|
0.09
|
|
C
|
|
(0.02)
|
|
|
|
0.04
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
0.39
|
|
|
0.02
|
|
|
|
(0.01)
|
|
|
|
0.40
|
|
|
0.54
|
|
|
0.09
|
|
|
|
(0.02)
|
|
|
|
0.61
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(0.16)
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.16)
|
|
|
(0.23)
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.23)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
0.99
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
|
$
|
0.99
|
|
|
$
|
1.29
|
|
|
$
|
0.09
|
|
|
|
$
|
(0.02)
|
|
|
|
$
|
1.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excluding tax
related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 26% for the
three months ended June 30, 2019 and 27% for the three months ended
June 30, 2018.
|
|
(1) Per share
amounts for the adjustments are based on the after-tax effect for
each item, divided by the diluted weighted average common shares
outstanding, as noted on the Consolidated Statements of Operations
(Unaudited)
|
|
|
|
|
|
|
|
Adjustments
key — see previous page
|
|
|
|
|
|
|
DTE Energy
Company
|
Segment Net Income
(Unaudited)
|
|
|
|
Six Months Ended
June 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
(In
millions)
|
DTE
Electric
|
$
|
280
|
|
|
$
|
(11)
|
|
A
|
|
$
|
3
|
|
|
|
$
|
281
|
|
|
$
|
303
|
|
|
$
|
—
|
|
|
|
$
|
8
|
|
D
|
|
$
|
305
|
|
|
|
|
13
|
|
B
|
|
(4)
|
|
|
|
|
|
|
|
2
|
|
E
|
|
(1)
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(9)
|
|
F
|
|
2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
159
|
|
|
(6)
|
|
A
|
|
2
|
|
|
|
155
|
|
|
118
|
|
|
—
|
|
|
|
8
|
|
D
|
|
125
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
1
|
|
E
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(3)
|
|
F
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
98
|
|
|
—
|
|
|
|
—
|
|
|
|
98
|
|
|
122
|
|
|
—
|
|
|
|
—
|
|
|
|
122
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
55
|
|
|
—
|
|
|
|
—
|
|
|
|
55
|
|
|
88
|
|
|
(4)
|
|
F
|
|
1
|
|
|
|
85
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
26
|
|
|
(31)
|
|
C
|
|
8
|
|
|
|
3
|
|
|
26
|
|
|
(23)
|
|
C
|
|
6
|
|
|
|
9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
179
|
|
|
(31)
|
|
|
|
8
|
|
|
|
156
|
|
|
236
|
|
|
(27)
|
|
|
|
7
|
|
|
|
216
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(35)
|
|
|
—
|
|
|
|
—
|
|
|
|
(35)
|
|
|
(62)
|
|
|
—
|
|
|
|
5
|
|
D
|
|
(57)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
583
|
|
|
$
|
(35)
|
|
|
|
$
|
9
|
|
|
|
$
|
557
|
|
|
$
|
595
|
|
|
$
|
(36)
|
|
|
|
$
|
30
|
|
|
|
$
|
589
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excluding tax
related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 26% for the
six months ended June 30, 2019 and 27% for the six months ended
June 30, 2018.
|
|
Adjustments
key
|
A) MPSC
approval of the deferral for the new customer billing system
post-implementation expenses — recorded in Operating Expenses —
Operation and maintenance
|
B) MPSC
disallowance of power plant capital expenses — recorded in
Operating Expenses — Asset (gains) losses and impairments,
net
|
C) Certain
adjustments resulting from derivatives being marked-to-market
without revaluing the underlying non-derivative contracts and
assets — recorded in Operating Expenses — Fuel, purchased power,
and gas — non-utility
|
D) True-up of
remeasurement of deferred taxes as a result of the enactment of the
Tax Cuts and Jobs Act of 2017 — recorded in Income Tax
Expense
|
E)
Implementation costs related to a new customer billing system, net
of authorized regulatory deferral — recorded in Operating Expenses
— Operation and maintenance
|
F) One-time
benefits expense reimbursement — recorded in Operating Expenses —
Operation and maintenance
|
DTE Energy
Company
|
Segment Diluted
Earnings Per Share (Unaudited)
|
|
|
|
|
|
|
|
|
|
Six Months Ended
June 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes*
|
|
Operating
Earnings
|
|
(In
millions)
|
DTE
Electric
|
$
|
1.53
|
|
|
$
|
(0.06)
|
|
A
|
|
$
|
0.02
|
|
|
|
$
|
1.54
|
|
|
$
|
1.68
|
|
|
$
|
—
|
|
|
|
$
|
0.04
|
|
D
|
|
$
|
1.69
|
|
|
|
|
0.07
|
|
B
|
|
(0.02)
|
|
|
|
|
|
|
|
0.02
|
|
E
|
|
(0.01)
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(0.05)
|
|
F
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
0.87
|
|
|
(0.03)
|
|
A
|
|
0.01
|
|
|
|
0.85
|
|
|
0.65
|
|
|
—
|
|
|
|
0.04
|
|
D
|
|
0.69
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
0.01
|
|
E
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(0.02)
|
|
F
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
0.53
|
|
|
—
|
|
|
|
—
|
|
|
|
0.53
|
|
|
0.68
|
|
|
—
|
|
|
|
—
|
|
|
|
0.68
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and Industrial
Projects
|
0.30
|
|
|
—
|
|
|
|
—
|
|
|
|
0.30
|
|
|
0.49
|
|
|
(0.02)
|
|
F
|
|
—
|
|
|
|
0.47
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
0.14
|
|
|
(0.17)
|
|
C
|
|
0.04
|
|
|
|
0.01
|
|
|
0.14
|
|
|
(0.13)
|
|
C
|
|
0.04
|
|
|
|
0.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
0.97
|
|
|
(0.17)
|
|
|
|
0.04
|
|
|
|
0.84
|
|
|
1.31
|
|
|
(0.15)
|
|
|
|
0.04
|
|
|
|
1.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(0.19)
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.19)
|
|
|
(0.35)
|
|
|
—
|
|
|
|
0.03
|
|
D
|
|
(0.32)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable to DTE Energy Company
|
$
|
3.18
|
|
|
$
|
(0.19)
|
|
|
|
$
|
0.05
|
|
|
|
$
|
3.04
|
|
|
$
|
3.29
|
|
|
$
|
(0.19)
|
|
|
|
$
|
0.16
|
|
|
|
$
|
3.26
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Excluding tax
related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 26% for the
six months ended June 30, 2019 and 27% for the six months ended
June 30, 2018.
|
|
(1) Per share
amounts for the adjustments are based on the after-tax effect for
each item, divided by the diluted weighted average common shares
outstanding, as noted on the Consolidated Statements of Operations
(Unaudited)
|
|
|
|
|
|
|
|
Adjustments
key — see previous page
|
|
|
|
|
|
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/dte-energy-reports-strong-second-quarter-2019-results-raises-guidance-300889693.html
SOURCE DTE Energy