8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (Aug 10, 2020)

Filed August 10, 2020For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) filed an 8-K on August 10, 2020, to furnish a slide presentation for investor meetings scheduled for August 11, 2020. The primary purpose of this filing is to reaffirm the company's previously issued 2020 operating earnings guidance range of $6.47 to $6.75 per share. This guidance is presented on an 'operating earnings' basis, which excludes certain items that impact GAAP reported earnings. DTE Energy explicitly states that reconciliations for these exclusions, such as non-recurring items, mark-to-market adjustments, and discontinued operations, are not provided due to the unpredictability and potential materiality of these items on reported results. The company also discusses Adjusted EBITDA in its presentation. Similar to operating earnings, DTE Energy does not provide a reconciliation of net income to Adjusted EBITDA for the full year 2020. The reasoning cited is the inability to reliably forecast components of net income, including potential impairments, divestiture or acquisition costs, and changes in accounting principles, which could significantly affect financial measures. Investors should note that this information is furnished and not deemed 'filed' for liability purposes under Section 18 of the Securities Exchange Act.

Key Highlights

  • 1DTE Energy reaffirmed its 2020 operating earnings guidance range of $6.47-$6.75 per share.
  • 2The company will be meeting with investors on August 11, 2020, with a slide presentation furnished as part of this filing.
  • 3The guidance provided is for 'operating earnings,' which excludes certain items that may impact GAAP reported earnings.
  • 4Reconciliations for items excluded from operating earnings (e.g., non-recurring items, mark-to-market adjustments) are not provided due to forecasting uncertainty.
  • 5DTE Energy also discusses Adjusted EBITDA but does not provide a reconciliation to net income due to similar forecasting challenges.
  • 6Information furnished in this 8-K is not considered 'filed' for certain legal purposes.
  • 7The filing incorporates forward-looking statements, and investors are advised to consult the company's 10-K and 10-Q filings for a comprehensive understanding of risks and uncertainties.

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 August 11, 2020. The presentation reaffirms the company's 2020 operating earnings guidance and provides updates on other financial metrics.

DTE Energy reaffirmed its 2020 operating earnings guidance range of $6.47 to $6.75 per share. This guidance is based on 'operating earnings,' which is a non-GAAP measure.

DTE Energy states that it does not provide reconciliations for operating earnings or Adjusted EBITDA to GAAP net income because it cannot reliably forecast the specific future items that would need to be excluded or included. These unpredictable items, such as impairments, divestiture costs, or mark-to-market adjustments, could significantly impact reported results.

No, the information furnished in this 8-K, including the slide presentation, is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This means it is not integrated into the company's official SEC filings for liability purposes unless expressly stated otherwise.