8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (May 12, 2020)

Filed May 12, 2020For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Co. filed an 8-K on May 12, 2020, to furnish a slide presentation for upcoming investor meetings on May 13-14, 2020. The primary purpose of this filing is to communicate updated financial guidance and related information to investors. The company reaffirmed its 2020 operating earnings guidance range of $6.47 to $6.75 per share, signaling continued confidence in its operational performance despite the broader economic uncertainties at the time. Investors should note that the presentation discusses both operating earnings and Adjusted EBITDA, with the company explicitly stating that reconciliations to GAAP-reported earnings or net income are not provided. This is due to the inability to reliably forecast significant future non-recurring items, mark-to-market adjustments, asset impairments, or other charges that can impact reported results. This practice is common for companies providing non-GAAP measures, but investors must understand the potential for divergence between operating results and reported GAAP earnings.

Key Highlights

  • 1Reaffirmed 2020 operating earnings guidance range of $6.47 - $6.75 per share.
  • 2Furnished a slide presentation for investor meetings scheduled for May 13-14, 2020.
  • 3The slide presentation and 8-K are available on DTE Energy's website.
  • 4Company will not provide reconciliations of projected 2020 operating earnings to GAAP reported earnings.
  • 5Reconciliations are not provided due to the unpredictability of non-recurring items, mark-to-market adjustments, and discontinued operations.
  • 6Company discusses Adjusted EBITDA but does not provide a reconciliation to net income.
  • 7Explanations for not providing GAAP reconciliations for Adjusted EBITDA include potential impairments, divestiture/acquisition costs, and changes in accounting principles.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose information that DTE Energy will present to investors during meetings held on May 13-14, 2020. This includes reaffirming financial guidance and providing context on how financial performance is being measured.

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

DTE Energy stated that it cannot provide reliable forecasts for specific items like non-recurring charges, mark-to-market adjustments, or discontinued operations that can significantly impact GAAP reported earnings. Similarly, it cannot provide a GAAP reconciliation for Adjusted EBITDA due to the unpredictable nature of items such as asset impairments or divestiture costs.

The slide presentation is furnished as Exhibit 99.1 to this 8-K filing and was also made available on DTE Energy's website (www.dteenergy.com) on May 12, 2020.