Summary
DTE Energy Company (DTE) filed an 8-K on June 28, 2011, primarily to disclose information presented to investors. The key takeaway for investors is the reaffirmation of DTE Energy's 2011 operating earnings per share (EPS) guidance range of $3.40 to $3.70. This signals management's confidence in achieving its financial targets for the year despite potential fluctuations in reported earnings. The filing indicates that certain items impacting reported results will be excluded from operating earnings, a common practice for utilities to present a clearer view of core operational performance. While reconciliations for these exclusions are not provided due to the difficulty in forecasting specific line items, investors should be aware that these adjustments could lead to a difference between reported and operating earnings. The information was presented in a slide deck furnished as Exhibit 99.1, which was also made available on DTE's website.
Key Highlights
- 1DTE Energy reaffirms its 2011 operating earnings per share guidance of $3.40 - $3.70.
- 2The reaffirmation was communicated during a meeting with investors on June 28, 2011.
- 3A presentation used in the investor meeting has been furnished as Exhibit 99.1 to the 8-K.
- 4The presentation and filing discuss 2011 operating earnings guidance.
- 5DTE Energy notes that certain items impacting reported results will be excluded from operating earnings.
- 6Reconciliations for excluded items are not provided as forecasting them is not reliably possible.
- 7The information furnished is not deemed "filed" for purposes of Section 18 of the Exchange Act, but is incorporated by reference as expressly set forth in future filings.