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DTE Energy (DTE) Beats Q1 Earnings & Revenue Estimates

Zacks Equity Research

Detroit, MI-based DTE Energy Company DTE is a holding company with subsidiaries engaged in regulated and unregulated energy businesses. The company’s largest regulated subsidiaries comprise DTE Electric Company and DTE Gas Company, and both of their subsidiaries.

DTE Energy follows a disaciplined capital spending program to maintain and upgrade the reliability of its electric utility systems. The gradual recovery in Michigan’s economy, decline in unemployment rates and increasing housing permits bode well for the company going forward.

Estimate Trend & Surprise History

Investors should note that the first quarter Zacks Consensus Estimate for earnings of $1.57 per share has remained stable over the last 30 days.

Coming to the earnings surprise, DTE Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 8.15%.

Zacks Rank: Currently, DTE Energy has a Zacks Rank #3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: DTE Energy’s adjusted earnings per share came in at $1.79, which surpassed the Zacks Consensus Estimate of $1.57.

The company‘s first quarter reported earnings came in at $2.23 per share.

Revenue: The company reported revenues of $3.24 billion in first quarter, compared to our consensus estimate of $2.58 billion.

Key Stats: The company reaffirmed its 2017 operating earnings per share guidance in the range of $5.15 -$5.46.

DTE Energy Company Price and EPS Surprise

 

DTE Energy Company Price and EPS Surprise | DTE Energy Company Quote

Check back later for our full write up on this DTE Energy Company earnings report later!

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