8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (Aug 19, 2020)

Filed August 19, 2020For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy filed an 8-K on August 19, 2020, to furnish a slide presentation for investor meetings scheduled for August 20, 2020. The primary focus of this filing is to reaffirm the company's 2020 operating earnings guidance range of $6.47 to $6.75 per share. Investors should note that this guidance excludes certain items that impact reported results, and reconciliations are not provided due to the unpredictable nature of these items, which may include non-recurring events, mark-to-market adjustments, and discontinued operations. The company also discussed Adjusted EBITDA in its presentation. Similar to operating earnings, reconciliations to GAAP measures like net income are not provided because DTE Energy cannot reliably forecast the specific components, such as impairments, divestiture costs, or acquisition costs, which can significantly influence reported earnings. Investors are advised to consider these disclosures within the context of DTE Energy's forward-looking statements and other SEC filings, which detail risks and uncertainties that could affect actual results.

Key Highlights

  • 1DTE Energy reaffirmed its 2020 operating earnings guidance of $6.47-$6.75 per share.
  • 2The guidance is based on 'operating earnings,' which exclude certain items impacting reported GAAP results.
  • 3Reconciliations between operating earnings and reported GAAP earnings are not provided for 2020 guidance due to the unpredictability of excluded items.
  • 4The company also discussed Adjusted EBITDA, without providing a GAAP reconciliation for full-year 2020 projections.
  • 5DTE Energy stated it cannot reliably forecast specific components that affect net income, thus precluding a GAAP equivalent for Adjusted EBITDA.
  • 6The furnished slide presentation (Exhibit 99.1) is available on DTE Energy's website and was incorporated by reference in this filing.
  • 7The filing includes standard forward-looking statements disclaimers, referencing other SEC filings for a comprehensive list of risks and uncertainties.

Frequently Asked Questions

DTE Energy reaffirmed its 2020 operating earnings guidance range of $6.47 to $6.75 per share. This guidance pertains to 'operating earnings' and not necessarily to GAAP reported earnings.

DTE Energy stated that reconciliations to comparable 2020 reported earnings guidance are not provided because it is not possible to offer a reliable forecast of specific line items that will be excluded from operating results. These items, such as future non-recurring events, mark-to-market adjustments, and discontinued operations, can fluctuate significantly and impact reported earnings.

Adjusted EBITDA is a non-GAAP financial measure discussed by DTE Energy. A reconciliation to net income is not provided because the company cannot reliably estimate or predict with certainty the components of net income that would be necessary to derive a GAAP equivalent. These components, which may include impairments, divestiture costs, or acquisition costs, could significantly impact reported earnings.

The slide presentation discussed in the 8-K filing is furnished as Exhibit 99.1 and was made available on DTE Energy's website (www.dteenergy.com) on August 19, 2020.