8-KEarnings & ResultsRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Financial Results (Jul 25, 2018)

Filed July 25, 2018For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) filed an 8-K on July 25, 2018, primarily to furnish its earnings release and slide presentation for the quarter ended June 30, 2018. The most significant update for investors is the company's decision to increase its 2018 operating earnings guidance range. The new guidance is set between $5.94 and $6.32 per share, a notable increase from the previous range of $5.57 to $5.99 per share. While the filing itself does not contain detailed financial results, it directs investors to the furnished exhibits for this information. It's important for investors to note that DTE Energy utilizes 'operating earnings' which may exclude certain items impacting reported results, such as non-recurring items, mark-to-market adjustments, and discontinued operations. The company states that it cannot provide reliable forecasts for these excluded items, and therefore, reconciliations to reported earnings are not included in this specific filing.

Key Highlights

  • 1DTE Energy increased its 2018 operating earnings per share guidance range.
  • 2The new 2018 operating earnings guidance is $5.94 - $6.32 per share.
  • 3The previous 2018 operating earnings guidance was $5.57 - $5.99 per share.
  • 4The filing furnished DTE Energy's earnings release dated July 25, 2018 (Exhibit 99.1).
  • 5The filing furnished DTE Energy's slide presentation dated July 25, 2018 (Exhibit 99.2).
  • 6The company uses 'operating earnings' which may exclude certain items from reported results.
  • 7Reconciliations between operating earnings and reported earnings guidance are not provided due to the unpredictability of excluded items.

Frequently Asked Questions

The main takeaway for investors is that DTE Energy has raised its full-year 2018 operating earnings guidance. The company now expects to achieve operating earnings per share in the range of $5.94 to $6.32, up from its previous guidance of $5.57 to $5.99 per share.

The detailed financial results are not presented directly in the 8-K filing itself. Instead, the filing incorporates by reference Exhibit 99.1 (the earnings release) and Exhibit 99.2 (the slide presentation), which contain the company's financial performance and supplemental information for the period.

'Operating earnings' are a non-GAAP measure used by DTE Energy that may exclude certain items impacting reported earnings. These can include, but are not limited to, non-recurring items, certain mark-to-market adjustments, and discontinued operations. Investors should refer to the earnings release and presentation for a clearer understanding of what items are excluded and why.

DTE Energy states that it does not provide reconciliations to comparable reported earnings guidance because it is not possible to reliably forecast certain future items that would be excluded from operating results. These items, such as future non-recurring items, mark-to-market adjustments, and discontinued operations, can fluctuate significantly and impact reported earnings.