8-KRegulation FDExhibits & Filings

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

Filed June 8, 2021For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) filed an 8-K on June 8, 2021, to disclose information regarding upcoming investor events and provide guidance. The company announced investor webcasts and meetings scheduled from June 9 through June 28, 2021, and furnished a slide presentation (Exhibit 99.1) containing this information. Investors should note that the company is providing 2021 operating earnings guidance but will not be reconciling this to reported earnings on a GAAP basis. This is due to the inability to reliably forecast significant and fluctuating items such as non-recurring items, mark-to-market adjustments, and discontinued operations, which can materially impact reported results. Furthermore, the presentation includes discussions of DT Midstream's Adjusted EBITDA and Distributable Cash Flow. Similar to the operating earnings guidance, DTE Energy is not providing GAAP reconciliations for these non-GAAP measures for the full year 2021. The company cites the difficulty in forecasting components of net income such as impairments, charges, or divestiture costs, which can significantly affect reported net income and thus prevent a reliable GAAP equivalent for Adjusted EBITDA and Distributable Cash Flow. Investors are advised to review the furnished slide presentation for details on these forward-looking statements and associated risks.

Key Highlights

  • 1DTE Energy is conducting investor webcasts and meetings from June 9 to June 28, 2021.
  • 2A slide presentation (Exhibit 99.1) has been furnished and is available on DTE's website, providing details for these investor interactions.
  • 3The company is providing 2021 operating earnings guidance.
  • 4Reconciliations of 2021 operating earnings guidance to GAAP reported earnings are not provided due to the unpredictability of certain significant items.
  • 5DT Midstream's Adjusted EBITDA and Distributable Cash Flow for 2021 are discussed in the presentation.
  • 6GAAP reconciliations for DT Midstream's Adjusted EBITDA and Distributable Cash Flow are not provided due to forecasting challenges of income statement components.
  • 7The filing includes standard forward-looking statements disclosures, referencing prior 10-K and 10-Q filings for risk factors.

Frequently Asked Questions

The primary purpose of this 8-K filing is to inform investors about upcoming investor webcasts and meetings scheduled for June 2021 and to furnish a slide presentation that will be used during these events. It also provides preliminary 2021 guidance and discusses non-GAAP financial measures.

DTE Energy is not providing GAAP reconciliations for its 2021 operating earnings guidance because it cannot reliably forecast certain items that impact reported earnings. These items, such as non-recurring expenses, mark-to-market adjustments, and discontinued operations, can fluctuate significantly and have a material impact on GAAP reported earnings.

The presentation discusses DT Midstream's Adjusted EBITDA and Distributable Cash Flow for the full year 2021. Reconciliations to GAAP net income are not provided because DTE Energy cannot reasonably forecast all components of net income, including potential impairments, charges, or divestiture costs, which could significantly affect the GAAP equivalent.

The slide presentation (Exhibit 99.1) is furnished with this 8-K filing and was made available on DTE Energy's website (www.dteenergy.com) on June 8, 2021.