Summary
DTE Energy Company (DTE) filed an 8-K on October 28, 2019, to furnish its earnings release and slide presentation for the quarter ended September 30, 2019. The company announced an upward revision to its 2019 operating earnings guidance range, now projected to be between $6.06 and $6.40 per share, an increase from the previous $6.02 - $6.38 range. This suggests continued confidence in the company's operational performance and future earnings potential for the remainder of the year. Furthermore, DTE Energy provided an initial outlook for 2020 operating earnings, targeting a range of $6.47 to $6.75 per share. Investors should note that the company emphasizes that these are "operating earnings" and that certain items impacting reported results will be excluded. Reconciliations for these exclusions are not provided due to the unpredictable nature of potential future non-recurring items, mark-to-market adjustments, and discontinued operations.
Key Highlights
- 1DTE Energy increased its 2019 operating earnings per share guidance to a range of $6.06 - $6.40 from $6.02 - $6.38.
- 2The company provided an initial operating earnings per share guidance for 2020 in the range of $6.47 - $6.75.
- 3The filing includes an earnings release (Exhibit 99.1) and a slide presentation (Exhibit 99.2) dated October 28, 2019.
- 4DTE Energy is furnishing this information, meaning it is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, except as expressly stated in future filings.
- 5Reconciliations for excluded items impacting reported 2019 and 2020 earnings are not provided due to the difficulty in forecasting these items.
- 6The forward-looking statements section contains standard cautionary language regarding risks and uncertainties that could affect actual results.