Summary
DTE Energy Co. (DTE) filed an 8-K on March 12, 2021, primarily to disclose materials for upcoming investor meetings scheduled for March 15, 2021. The key takeaway for investors is that DTE will be discussing its 2021 operating earnings guidance and Adjusted EBITDA during these meetings. The accompanying slide presentation, furnished as Exhibit 99.1, contains these forward-looking financial metrics. Investors should note that DTE Energy is providing guidance on operating earnings and Adjusted EBITDA but is not providing reconciliations to the comparable GAAP figures (reported earnings and net income, respectively). The company states that it cannot reliably forecast certain items that impact reported results, such as non-recurring items, mark-to-market adjustments, discontinued operations, impairments, divestiture costs, or changes in accounting principles. These excluded items can significantly affect reported earnings, meaning investors will need to rely on DTE's provided operating metrics and understand the potential for divergence from reported GAAP figures.
Key Highlights
- 1DTE Energy is holding investor meetings on March 15, 2021, and has filed a slide presentation (Exhibit 99.1) as part of this disclosure.
- 2The company will be discussing its 2021 operating earnings guidance during the investor meetings.
- 3DTE Energy will also discuss its projected Adjusted EBITDA for full-year 2021.
- 4Reconciliations of 2021 operating earnings guidance to GAAP reported earnings are not provided due to the inability to reliably forecast specific impacting items.
- 5Reconciliations of projected Adjusted EBITDA to GAAP net income are also not provided, citing similar reasons related to forecasting unpredictable components.
- 6The company emphasizes that excluded items could significantly impact reported earnings and financial measures.
- 7The information furnished in this 8-K is subject to Regulation FD and is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.