8-KRegulation FDExhibits & Filings

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

Filed December 8, 2020For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Co. (DTE) filed an 8-K on December 8, 2020, to disclose information to be presented to investors on December 9, 2020. The company reaffirmed its 2020 operating earnings guidance range of $6.90-$7.10 per share and provided an initial outlook for 2021 operating earnings guidance of $6.88-$7.26 per share. This filing serves to inform investors about the company's financial outlook, emphasizing operating earnings and Adjusted EBITDA, while also cautioning that reconciliations for certain non-operating items impacting reported results are not provided due to the inability to reliably forecast them. Investors should note that the presentation incorporates by reference a slide deck filed on November 6, 2020, and that DTE Energy's discussion of operating earnings and Adjusted EBITDA excludes certain items that could significantly impact reported GAAP earnings. The company has explicitly stated that it cannot provide reliable forecasts for these excluded items, such as non-recurring items, mark-to-market adjustments, and discontinued operations, nor can it provide a GAAP equivalent for Adjusted EBITDA due to the uncertainty of these components.

Key Highlights

  • 1DTE Energy reaffirmed its 2020 operating earnings guidance range of $6.90-$7.10 per share.
  • 2The company provided an initial 2021 operating earnings guidance range of $6.88-$7.26 per share.
  • 3The filing is in preparation for investor meetings on December 9, 2020.
  • 4Discussions include operating earnings and Adjusted EBITDA.
  • 5Reconciliations for items impacting reported GAAP earnings (e.g., non-recurring items, mark-to-market adjustments) are not provided due to forecasting difficulties.
  • 6DTE Energy cannot provide a GAAP equivalent for Adjusted EBITDA at this time.
  • 7The slide presentation referenced was previously filed on November 6, 2020.

Frequently Asked Questions

The primary purpose of this 8-K filing is to inform investors about financial guidance and outlook that DTE Energy will be discussing in upcoming investor meetings. It reiterates the company's earnings guidance for 2020 and provides an initial outlook for 2021.

DTE Energy reaffirmed its 2020 operating earnings guidance range of $6.90 to $7.10 per share. For 2021, the company provided an early outlook for operating earnings guidance in the range of $6.88 to $7.26 per share.

DTE Energy states that it cannot provide reliable forecasts for specific items that impact reported GAAP earnings but are excluded from operating results (e.g., non-recurring items, mark-to-market adjustments, discontinued operations). Similarly, due to the uncertainty of components that could significantly impact net income, a GAAP equivalent for Adjusted EBITDA cannot be provided without unreasonable effort.

The slide presentation discussed in this 8-K was previously furnished as Exhibit 99.1 to a Form 8-K filed on November 6, 2020, and is incorporated by reference. It is also available on DTE Energy's website at www.dteenergy.com.