8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (Mar 2, 2021)

Filed March 2, 2021For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Co. (DTE) filed an 8-K on March 2, 2021, to announce an upcoming investor meeting scheduled for March 3, 2021. The primary purpose of this filing is to furnish a slide presentation (Exhibit 99.1) that will be used during these meetings. This presentation includes DTE Energy's 2021 operating earnings guidance and discusses Adjusted EBITDA. Investors should note that the company will exclude certain items impacting reported results from its operating earnings guidance and will not provide reconciliations to GAAP due to the unpredictable nature and potential significant impact of these items, such as non-recurring items, mark-to-market adjustments, and discontinued operations. The company also highlights that it will discuss Adjusted EBITDA, but a reconciliation to net income will not be provided. This is attributed to the inability to reliably forecast specific components of net income, including impairments, divestiture/acquisition costs, or changes in accounting principles, which could materially affect reported earnings. Investors are advised to carefully review the provided presentation and consider the forward-looking statements disclaimer, which incorporates by reference risk factors from DTE's 2020 10-K.

Key Highlights

  • 1DTE Energy is providing 2021 operating earnings guidance and discussing Adjusted EBITDA during investor meetings on March 3, 2021.
  • 2A slide presentation (Exhibit 99.1) detailing this information is furnished with the 8-K filing.
  • 3The company will exclude certain items from 2021 operating earnings guidance, and reconciliations to GAAP are not provided due to the inability to reliably forecast these potentially significant impacts.
  • 4Items excluded may include non-recurring events, mark-to-market adjustments, and discontinued operations.
  • 5Reconciliation of Adjusted EBITDA to net income will also not be provided, citing the difficulty in predicting components like impairments and acquisition/divestiture costs.
  • 6The filing includes standard forward-looking statements disclaimers, referencing the company's 2020 10-K for a comprehensive discussion of risks and uncertainties.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish a slide presentation (Exhibit 99.1) that DTE Energy will use in investor meetings on March 3, 2021. This presentation contains forward-looking information, including 2021 operating earnings guidance and discussions on Adjusted EBITDA.

No, DTE Energy states that reconciliations for its 2021 operating earnings guidance to comparable GAAP reported earnings will not be provided. This is because it's not possible to reliably forecast specific line items that may be excluded, such as future non-recurring items, certain mark-to-market adjustments, and discontinued operations, which could significantly impact reported results.

DTE Energy will not provide a reconciliation of Adjusted EBITDA to net income because it cannot, without unreasonable effort, estimate or predict with certainty the components of net income. These components, such as impairments of assets, divestiture costs, or acquisition costs, can fluctuate significantly and materially impact reported earnings.

Investors can find more information about the risks and uncertainties related to DTE Energy's forward-looking statements by referring to the 'Forward-Looking Statements' section in DTE Energy's and DTE Electric Company's 2020 Form 10-K, which is incorporated by reference in this filing. Other SEC reports filed by the companies may also contain relevant information.