8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (Sep 17, 2020)

Filed September 17, 2020For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Co. (DTE) filed an 8-K on September 17, 2020, to furnish a slide presentation for investor meetings scheduled for September 18, 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 the company will be discussing certain adjustments to operating results and Adjusted EBITDA, but reconciliations to GAAP figures like reported earnings and net income are not provided. DTE Energy cites the unpredictability of certain items such as non-recurring events, mark-to-market adjustments, and asset impairments as reasons for not offering detailed GAAP forecasts. This report serves as a communication tool for DTE Energy to reiterate its financial outlook to the investment community. While the reaffirmed guidance is a key takeaway, investors are cautioned about the exclusion of certain non-GAAP metrics from detailed reconciliation. The filing also includes standard forward-looking statement disclaimers, directing readers to review the company's previous SEC filings for a comprehensive understanding of risks and uncertainties that could impact actual results.

Key Highlights

  • 1DTE Energy reaffirms its 2020 operating earnings guidance range of $6.47 to $6.75 per share.
  • 2The company is meeting with investors on September 18, 2020, and furnished a slide presentation as part of this 8-K filing.
  • 3The presentation discusses 2020 operating earnings guidance and Adjusted EBITDA.
  • 4DTE Energy is not providing reconciliations to GAAP reported earnings for 2020 guidance due to the inability to forecast specific volatile items.
  • 5Reconciliations for Adjusted EBITDA to net income are also not provided, citing the difficulty in predicting components of net income.
  • 6The company directs investors to its previously filed 10-K and 10-Q reports for a comprehensive view of risks and uncertainties.
  • 7Information furnished under Item 7.01 is not considered 'filed' for 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 a slide presentation that DTE Energy will use during investor meetings on September 18, 2020. The presentation reaffirms the company's 2020 operating earnings guidance and discusses non-GAAP financial measures.

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

DTE Energy states that it cannot provide reliable forecasts or estimate with certainty the specific line items (like non-recurring items, mark-to-market adjustments, impairments, etc.) that would be needed to reconcile non-GAAP figures (operating earnings, Adjusted EBITDA) to their GAAP equivalents (reported earnings, net income). These items can fluctuate significantly and impact reported results.

The filing directs investors to read the 'Forward-Looking Statements' section in DTE Energy's and DTE Electric's 2019 Form 10-K and 2020 Form 10-Qs, as well as other SEC reports filed by the companies. These sections discuss important factors that could cause actual results to differ materially from forward-looking statements.