DETROIT, Oct. 28, 2019 /PRNewswire/ -- DTE Energy
(NYSE:DTE) today reported third quarter 2019 earnings of
$319 million, or $1.73 per diluted share, compared with
$334 million, or $1.84 per diluted share in 2018.
Operating earnings for the third quarter 2019 were $351 million, or $1.91 per diluted share, compared with 2018
operating earnings of $388 million,
or $2.13 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 DTE Energy Board of Directors declared a $1.0125 per
share dividend on its common stock payable Jan. 15, 2020, to
shareholders of record at the close of business Dec. 16,
2019. This is a seven percent increase from the previous
quarterly dividend of $0.945 per
share. The new annualized dividend per share is $4.05, up from $3.78. This continues DTE Energy's consistent
dividend history, having issued a cash dividend for more than 100
years.
"This dividend increase reflects the company's strong
performance and ability to consistently achieve our goals," said
Jerry Norcia, DTE Energy President
and CEO. "The Board's approval of the increase signals confidence
in the company's performance and long-term strategic plan."
Norcia also noted the following business and environmental
accomplishments:
- Announced goal to achieve net zero carbon emissions in
electric company by 2050: This sets the framework for DTE to go
beyond its existing commitment to reduce carbon emissions 50% by
2030 and 80% by 2040, ensuring its medium- and long-term plans
align with the scientific consensus around the importance of
achieving significant economy-wide carbon emissions reduction by
mid-century.
- Received approval to purchase three wind parks: The
Michigan Public Service Commission provided conditional approval
for DTE Energy's proposed purchase of three new Michigan wind parks, increasing the company's
renewable energy portfolio nearly 50% and furthering DTE's
commitment to provide clean, affordable and reliable power to its
customers.
- Gained momentum with MIGreenPower voluntary renewable
program: Partnered with the Detroit Zoo to meet its 100%
renewable energy goal, following other significant recent
partnerships with Ford, GM and the University
of Michigan. DTE's MIGreenPower program, one of the
country's first voluntary renewable programs, enables large
business, industrial and residential customers to attribute a
greater percentage of their energy use to Michigan-made renewable energy.
- Opened first renewable natural gas processing and interstate
injection site in Wisconsin:
With more than three decades of experience in landfill
waste-to-energy projects, DTE Biomass, along with local dairy farm
partners, is leading the way in the Wisconsin dairy renewable energy
movement.
- Ranked second in overall customer satisfaction at DTE
Gas: J.D. Power's 2019 study ranked DTE Gas second in customer
satisfaction with residential customers in the Midwest.
- Entered into an agreement to acquire a midstream gathering
and lateral system: DTE Midstream expands growth platform with
acquisition of high-quality assets. These assets will enhance DTE
Midstream's business and provide access to growing Gulf Coast
markets.
- Continued support of Michigan businesses: DTE Energy spent more
than $1.8 billion with Michigan-based companies through the third
quarter of this year, executing its commitment to the Pure Michigan
Business Connect local supplier initiative. This includes
$668 million spent in the city of
Detroit.
Financial outlook
DTE Energy increased its 2019 operating EPS guidance range from
$6.02 - $6.38 to $6.06
- $6.40.
"We delivered strong third quarter financial results in our
utility and non-utility businesses," said Peter Oleksiak, DTE Energy senior vice president
and CFO. "We feel confident we are well-positioned to exceed
original guidance for 2019."
DTE Energy also provided 2020 operating EPS early outlook
guidance range of $6.47 -
$6.75.
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 6004989. 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 Monday, Nov. 11. To access the replay, dial U.S.
and Canada toll free (888)
203-1112 or international toll (719) 457-0820 and enter the
passcode 6004989.
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 Southeast
Michigan and a natural gas company serving 1.3 million
customers in Michigan. The DTE portfolio includes energy
businesses focused on power and industrial projects; renewable
natural gas; natural gas pipelines, gathering and storage; and
energy marketing and trading. As an environmental leader,
DTE utility operations 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 Electric
aspires to achieve net zero carbon by 2050. DTE is committed to
serving with its energy 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
September 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
(In
millions)
|
DTE
Electric
|
$
|
307
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
|
$
|
307
|
|
|
$
|
305
|
|
|
$
|
—
|
|
|
|
$
|
(1)
|
|
B
|
|
$
|
304
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
(38)
|
|
|
—
|
|
|
|
—
|
|
|
|
(38)
|
|
|
(30)
|
|
|
—
|
|
|
|
2
|
|
B
|
|
(28)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
60
|
|
|
—
|
|
|
|
—
|
|
|
|
60
|
|
|
66
|
|
|
—
|
|
|
|
(2)
|
|
B
|
|
64
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and
Industrial
Projects
|
49
|
|
|
—
|
|
|
|
—
|
|
|
|
49
|
|
|
58
|
|
|
—
|
|
|
|
(1)
|
|
B
|
|
63
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
8
|
|
C
|
|
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
(14)
|
|
|
43
|
|
A
|
|
(11)
|
|
|
|
18
|
|
|
(13)
|
|
|
37
|
|
A
|
|
(9)
|
|
|
|
15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
95
|
|
|
43
|
|
|
|
(11)
|
|
|
|
127
|
|
|
111
|
|
|
45
|
|
|
|
(14)
|
|
|
|
142
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(45)
|
|
|
—
|
|
|
|
—
|
|
|
|
(45)
|
|
|
(52)
|
|
|
—
|
|
|
|
22
|
|
B
|
|
(30)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable
to DTE Energy Company
|
$
|
319
|
|
|
$
|
43
|
|
|
|
$
|
(11)
|
|
|
|
$
|
351
|
|
|
$
|
334
|
|
|
$
|
45
|
|
|
|
$
|
9
|
|
|
|
$
|
388
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Excluding
tax related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 25% for
the
three months ended September 30, 2019 and 27% for the three months
ended September 30, 2018.
|
|
Adjustments
key
|
A) 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
|
B) 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
|
C) Asset
impairment at a renewable power generating facility — recorded in
Operating Expenses — Assets (gains) losses and impairments,
net
|
DTE Energy
Company
|
Segment Diluted
Earnings Per Share (Unaudited)
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
|
DTE
Electric
|
$
|
1.67
|
|
|
$
|
—
|
|
|
|
$
|
—
|
|
|
|
$
|
1.67
|
|
|
$
|
1.68
|
|
|
$
|
—
|
|
|
|
$
|
(0.01)
|
|
B
|
|
$
|
1.67
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
(0.21)
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.21)
|
|
|
(0.17)
|
|
|
—
|
|
|
|
0.01
|
|
B
|
|
(0.16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
0.33
|
|
|
—
|
|
|
|
—
|
|
|
|
0.33
|
|
|
0.36
|
|
|
—
|
|
|
|
(0.01)
|
|
B
|
|
0.35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and
Industrial
Projects
|
0.27
|
|
|
—
|
|
|
|
—
|
|
|
|
0.27
|
|
|
0.32
|
|
|
—
|
|
|
|
(0.01)
|
|
B
|
|
0.34
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
0.04
|
|
C
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
(0.08)
|
|
|
0.24
|
|
A
|
|
(0.06)
|
|
|
|
0.10
|
|
|
(0.07)
|
|
|
0.20
|
|
A
|
|
(0.05)
|
|
|
|
0.08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
0.52
|
|
|
0.24
|
|
|
|
(0.06)
|
|
|
|
0.70
|
|
|
0.61
|
|
|
0.24
|
|
|
|
(0.08)
|
|
|
|
0.77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(0.25)
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.25)
|
|
|
(0.28)
|
|
|
—
|
|
|
|
0.13
|
|
B
|
|
(0.15)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable
to DTE Energy Company
|
$
|
1.73
|
|
|
$
|
0.24
|
|
|
|
$
|
(0.06)
|
|
|
|
$
|
1.91
|
|
|
$
|
1.84
|
|
|
$
|
0.24
|
|
|
|
$
|
0.05
|
|
|
|
$
|
2.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Excluding tax
related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 25% for
the
three months ended September 30, 2019 and 27% for the three months
ended September 30, 2018.
|
|
(2) 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)
|
|
|
|
Nine Months Ended
September 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
(In
millions)
|
DTE
Electric
|
$
|
587
|
|
|
$
|
(11)
|
|
A
|
|
$
|
3
|
|
|
|
$
|
588
|
|
|
$
|
608
|
|
|
$
|
—
|
|
|
|
$
|
7
|
|
D
|
|
$
|
609
|
|
|
|
|
13
|
|
B
|
|
(4)
|
|
|
|
|
|
|
|
2
|
|
E
|
|
(1)
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(10)
|
|
F
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
121
|
|
|
(6)
|
|
A
|
|
2
|
|
|
|
117
|
|
|
88
|
|
|
—
|
|
|
|
10
|
|
D
|
|
97
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
1
|
|
E
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(3)
|
|
F
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
158
|
|
|
—
|
|
|
|
—
|
|
|
|
158
|
|
|
188
|
|
|
—
|
|
|
|
(2)
|
|
D
|
|
186
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and
Industrial
Projects
|
104
|
|
|
—
|
|
|
|
—
|
|
|
|
104
|
|
|
146
|
|
|
—
|
|
|
|
(1)
|
|
D
|
|
148
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(4)
|
|
F
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8
|
|
G
|
|
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
12
|
|
|
12
|
|
C
|
|
(3)
|
|
|
|
21
|
|
|
13
|
|
|
14
|
|
C
|
|
(3)
|
|
|
|
24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
274
|
|
|
12
|
|
|
|
(3)
|
|
|
|
283
|
|
|
347
|
|
|
18
|
|
|
|
(7)
|
|
|
|
358
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(80)
|
|
|
—
|
|
|
|
—
|
|
|
|
(80)
|
|
|
(114)
|
|
|
—
|
|
|
|
27
|
|
D
|
|
(87)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable
to DTE Energy Company
|
$
|
902
|
|
|
$
|
8
|
|
|
|
$
|
(2)
|
|
|
|
$
|
908
|
|
|
$
|
929
|
|
|
$
|
8
|
|
|
|
$
|
40
|
|
|
|
$
|
977
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Excluding tax
related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 25% for
the
nine months ended September 30, 2019 and 27% for the nine months
ended September 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
|
G) Asset impairment
at a renewable power generating facility — recorded in Operating
Expenses — Assets (gains) losses and impairments, net
|
DTE Energy
Company
|
Segment Diluted
Earnings Per Share (Unaudited)
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30,
|
|
2019
|
|
2018
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
Reported
Earnings
|
|
Pre-tax
Adjustments
|
|
Income
Taxes(1)
|
|
Operating
Earnings
|
|
|
DTE
Electric
|
$
|
3.20
|
|
|
$
|
(0.06)
|
|
A
|
|
$
|
0.02
|
|
|
|
$
|
3.21
|
|
|
$
|
3.36
|
|
|
$
|
—
|
|
|
|
$
|
0.04
|
|
D
|
|
$
|
3.37
|
|
|
|
|
0.07
|
|
B
|
|
(0.02)
|
|
|
|
|
|
|
|
0.02
|
|
E
|
|
(0.01)
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(0.06)
|
|
F
|
|
0.02
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DTE
Gas
|
0.66
|
|
|
(0.03)
|
|
A
|
|
0.01
|
|
|
|
0.64
|
|
|
0.49
|
|
|
—
|
|
|
|
0.06
|
|
D
|
|
0.55
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
0.01
|
|
E
|
|
—
|
|
|
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(0.02)
|
|
F
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility
operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Storage and
Pipelines
|
0.86
|
|
|
—
|
|
|
|
—
|
|
|
|
0.86
|
|
|
1.04
|
|
|
—
|
|
|
|
(0.01)
|
|
D
|
|
1.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Power and
Industrial
Projects
|
0.57
|
|
|
—
|
|
|
|
—
|
|
|
|
0.57
|
|
|
0.81
|
|
|
—
|
|
|
|
(0.01)
|
|
D
|
|
0.81
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
(0.03)
|
|
F
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.04
|
|
G
|
|
(0.01)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Trading
|
0.06
|
|
|
0.07
|
|
C
|
|
(0.02)
|
|
|
|
0.11
|
|
|
0.07
|
|
|
0.08
|
|
C
|
|
(0.02)
|
|
|
|
0.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-utility
operations
|
1.49
|
|
|
0.07
|
|
|
|
(0.02)
|
|
|
|
1.54
|
|
|
1.92
|
|
|
0.09
|
|
|
|
(0.04)
|
|
|
|
1.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and
Other
|
(0.44)
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.44)
|
|
|
(0.64)
|
|
|
—
|
|
|
|
0.14
|
|
D
|
|
(0.50)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
Attributable
to DTE Energy Company
|
$
|
4.91
|
|
|
$
|
0.05
|
|
|
|
$
|
(0.01)
|
|
|
|
$
|
4.95
|
|
|
$
|
5.13
|
|
|
$
|
0.04
|
|
|
|
$
|
0.22
|
|
|
|
$
|
5.39
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Excluding tax
related adjustments, the amount of income taxes was calculated
using a combined federal and state income tax rate of 25% for
the
nine months ended September 30, 2019 and 27% for the nine months
ended September 30, 2018.
|
|
(2) 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-third-quarter-2019-results-increases-2019-guidance-provides-2020-early-outlook-and-increases-dividend-7-percent-300946095.html
SOURCE DTE Energy