8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (Mar 30, 2020)

Filed March 30, 2020For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) filed an 8-K on March 30, 2020, to furnish investors with a slide presentation to be used in meetings on March 31, 2020. The primary purpose of this filing is to reaffirm DTE Energy's 2020 operating earnings guidance range of $6.47-$6.75 per share. The company emphasizes that this guidance pertains to operating earnings and that reconciliations to reported GAAP earnings are not provided due to the unpredictable nature of non-recurring items, mark-to-market adjustments, and discontinued operations. Furthermore, DTE Energy discusses Adjusted EBITDA in its presentation. Similar to operating earnings, a reconciliation of net income to Adjusted EBITDA is not provided, as the company cannot reliably forecast the components that affect net income, such as impairments, divestiture costs, or changes in accounting principles. Investors should note that this information, including the furnished exhibits, is not considered 'filed' for regulatory purposes and should be read in conjunction with the company's other SEC filings, particularly the forward-looking statements section of their 2019 10-K.

Key Highlights

  • 1DTE Energy reaffirms its 2020 operating earnings guidance range of $6.47 to $6.75 per share.
  • 2The company is providing a slide presentation to investors for meetings on March 31, 2020, which is furnished as an exhibit.
  • 3Reconciliations between operating earnings and reported GAAP earnings for 2020 are not provided, citing the unpredictability of certain items.
  • 4Adjusted EBITDA is discussed, but a reconciliation to net income is also not provided due to forecasting uncertainties.
  • 5The filing includes forward-looking statements that are subject to risks and uncertainties.
  • 6The information furnished in this 8-K is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish investors with a slide presentation that DTE Energy will use in meetings on March 31, 2020. This presentation reaffirms the company's 2020 operating earnings guidance and discusses non-GAAP financial measures like Adjusted EBITDA.

DTE Energy reaffirms its 2020 operating earnings guidance range of $6.47 to $6.75 per share.

DTE Energy states that reconciliations to reported GAAP earnings and net income (for Adjusted EBITDA) are not provided because it is not possible to reliably forecast specific line items. These can include non-recurring items, mark-to-market adjustments, impairments, divestiture costs, and changes in accounting principles, which can fluctuate significantly and impact reported results.

No, this filing primarily serves to reaffirm the existing 2020 operating earnings guidance and to provide materials for investor discussions. It does not introduce new financial guidance but rather reiterates the previously stated operating earnings forecast and discusses non-GAAP metrics without providing reconciliations.