DTE Energy reports third quarter accomplishments, investments and earnings; provides 2026 early outlook
Rhea-AI Summary
DTE Energy (NYSE: DTE) reported third-quarter 2025 results and provided an early 2026 outlook on Oct. 30, 2025. The company invested nearly $3 billion through Q3 2025 and remains on target to invest $4.4 billion in 2025. DTE executed a 1.4 GW data center agreement that will ramp over two to three years and is expected to be paid for by the data center customer. Third-quarter reported earnings were $419 million ($2.01 per diluted share), versus $477 million ($2.30) a year earlier; third-quarter operating earnings were $468 million ($2.25 per diluted share) versus $460 million ($2.22) in 2024. DTE confirmed 2025 operating EPS guidance of $7.09–$7.23 and provided a 2026 operating EPS early outlook of $7.59–$7.73. Other highlights: 17,500 outages prevented YTD by smart grid devices and an $800,000 United Way donation.
Positive
- Capital investment of nearly $3.0B through Q3 2025
- Targeting $4.4B utility investment for 2025
- 1.4 GW data center agreement with hyperscaler (2–3 year ramp)
- Operating EPS guidance confirmed for 2025: $7.09–$7.23
- 2026 operating EPS outlook: $7.59–$7.73
- 17,500 outages prevented by smart grid devices YTD 2025
Negative
- Third-quarter reported earnings fell to $419M from $477M in 2024 (≈12% decline)
- Reported EPS declined to $2.01 from $2.30 year-over-year
News Market Reaction
On the day this news was published, DTE declined 0.58%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Executed 1.4 GW data center agreement creating significant affordability benefits for existing customers
-
Continued substantial investment to improve reliability and transition to cleaner generation; on track to invest
$4.4 billion -
Invested nearly
$3 billion -
Supported vulnerable customers during extreme summer heat with
$800,000 - Published annual sustainability report
The company also reported third quarter earnings of
"Our dedicated team of nearly 10,000 employees has taken on the challenge of leading
Harris added, "We remain heavily focused on keeping our customers' bills as low as possible as we invest in our system. The data center agreement is a great step forward in executing our long-term strategy while also creating substantial affordability benefits for existing customers."
Harris also noted the following accomplishments:
- Executed 1.4 GW data center agreement: The company recently finalized its first data center contract with a hyperscaler for 1.4 GW of load that will ramp up over the next two to three years. The new electricity demand will be supported with existing capacity and new energy storage investments which will be paid for by the data center. This data center growth will create substantial affordability benefits for existing customers as DTE sells excess generation, and contract terms will also ensure that the data center absorbs all new costs required to serve them.
-
Invested nearly
$3 billion 30% and cut outage time in half by the end of 2029. -
Supported vulnerable customers during extreme summer heat with
$800,000 $800,000 Southeastern Michigan to help residents in need across the state stay safe duringMichigan's extreme summer weather. The donation will provide relief to elderly, unemployed, underemployed, and disabled customers acrossMichigan who are struggling to pay their energy bills and have qualified for energy assistance in the current year. -
Published annual Sustainability Report: DTE published its 2024 Sustainability Report, highlighting its progress toward expanding renewable energy, reducing carbon emissions, improving business operations, maintaining affordable energy for its customers and developing a skilled workforce to build a cleaner, more resilient energy future for
Michigan .
Outlook for 2025 and 2026
DTE Energy confirms 2025 operating EPS guidance of
"We continued our strong financial performance through the third quarter of 2025, enabling us to invest above our generated cash flows into
This earnings announcement and presentation slides are available at dteenergy.com/investors.
The company will conduct a conference call to discuss earnings results at 8:30 a.m. ET. Investors, the news media and the public may listen to a live internet broadcast of the call at dteenergy.com/investors. The telephone dial-in number in the
About DTE Energy
DTE Energy (NYSE:DTE) is a
Use of Operating Earnings Information - DTE Energy management believes that operating earnings provide a meaningful representation of the company's earnings from ongoing operations and uses operating earnings as the primary performance measurement for external communications with analysts and investors. Internally, DTE Energy uses operating earnings to measure performance against budget and to report to the Board of Directors. Operating earnings is a non-GAAP measure and should be viewed as a supplement and not a substitute for reported earnings, which represents the company's net income and the most comparable GAAP measure. In this release, DTE Energy discusses 2025 and 2026 operating earnings guidance. It is likely that certain items that impact the company's 2025 and 2026 reported results will be excluded from operating results. Reconciliations to the comparable 2025 and 2026 reported earnings guidance are not provided because it is not possible to provide a reliable forecast of specific line items (i.e. future non-recurring items, certain mark-to-market adjustments and discontinued operations). These items may fluctuate significantly from period to period and may have a significant impact on reported earnings. The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any information contained in this document as a result of new information or future events or developments. Certain information presented herein includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, and businesses of DTE Energy. Words such as "anticipate," "believe," "expect," "may," "could," "projected," "aspiration," "plans" and "goals" signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to numerous assumptions, risks and uncertainties that may cause actual future results to be materially different from those contemplated, projected, estimated or budgeted. Many factors may impact forward-looking statements including, but not limited to, the following: the impact of regulation by the EPA, EGLE, the FERC, the MPSC, the NRC, and for DTE Energy, the CFTC and CARB, as well as other applicable governmental proceedings and regulations, including any associated impact on rate structures; the amount and timing of cost recovery allowed as a result of regulatory proceedings, related appeals, or new legislation, including legislative amendments and retail access programs; economic conditions and population changes in DTE Energy's geographic area resulting in changes in demand, customer conservation, and thefts of electricity and, for DTE Energy, natural gas; the operational failure of electric or gas distribution systems or infrastructure; impact of volatility in prices in international steel markets and in prices of environmental attributes generated from renewable natural gas investments on the operations of DTE Vantage; the risk of a major safety incident; environmental issues, laws, regulations, and the increasing costs of remediation and compliance, including actual and potential new federal and state requirements; the cost of protecting assets and customer data against, or damage due to, cyber incidents and terrorism; health, safety, financial, environmental, and regulatory risks associated with ownership and operation of nuclear facilities; volatility in commodity markets, deviations in weather and related risks impacting the results of DTE Energy's energy trading operations; changes in the cost and availability of coal and other raw materials, purchased power, and natural gas; advances in technology that produce power, store power or reduce or increase power consumption; changes in the financial condition of significant customers and strategic partners; the potential for losses on investments, including nuclear decommissioning trust and benefit plan assets and the related increases in future expense and contributions; access to capital markets and the results of other financing efforts which can be affected by credit agency ratings; instability in capital markets which could impact availability of short and long-term financing; impacts of inflation, tariffs, and the timing and extent of changes in interest rates; the level of borrowings; the potential for increased costs or delays in completion of significant capital projects; changes in, and application of, federal, state, and local tax laws and their interpretations, including the Internal Revenue Code, regulations, rulings, court proceedings, and audits; the effects of weather and other natural phenomena, including climate change, on operations and sales to customers, and purchases from suppliers; unplanned outages at our generation plants; employee relations and the impact of collective bargaining agreements; the availability, cost, coverage, and terms of insurance and stability of insurance providers; cost reduction efforts and the maximization of generation and distribution system performance; the effects of competition; changes in and application of accounting standards and financial reporting regulations; changes in federal or state laws and their interpretation with respect to regulation, energy policy, and other business issues; successful execution of new business development and future growth plans; contract disputes, binding arbitration, litigation, and related appeals; the ability of the electric and gas utilities to achieve goals for carbon emission reductions; and the risks discussed in DTE Energy's public filings with the Securities and Exchange Commission. New factors emerge from time to time. We cannot predict what factors may arise or how such factors may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements speak only as of the date on which such statements are made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.
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DTE Energy Company |
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Segment Net Income (Unaudited) |
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Three Months Ended September 30, |
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2025 |
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2024 |
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Reported
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Pre-tax |
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Income |
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Operating
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Reported
|
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Pre-tax |
|
Income |
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Operating
|
||||
|
|
(In millions) |
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|
DTE Electric segment |
$ 506 |
|
$ 47 |
A |
|
$ (12) |
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|
$ 541 |
|
$ 437 |
|
$ — |
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$ — |
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$ 437 |
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DTE Gas segment |
(38) |
|
— |
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— |
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(38) |
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(13) |
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— |
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— |
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(13) |
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Non-utility operations |
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DTE Vantage segment |
33 |
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8 |
B |
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— |
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41 |
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33 |
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— |
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— |
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33 |
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Energy Trading segment |
33 |
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(14) |
C |
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4 |
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|
23 |
|
42 |
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(22) |
C |
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5 |
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25 |
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Non-utility operations |
66 |
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(6) |
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4 |
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|
64 |
|
75 |
|
(22) |
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5 |
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58 |
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Corporate and Other |
(115) |
|
— |
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|
16 |
D |
|
(99) |
|
(22) |
|
— |
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— |
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(22) |
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Net Income Attributable |
$ 419 |
|
$ 41 |
|
|
$ 8 |
|
|
$ 468 |
|
$ 477 |
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$ (22) |
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$ 5 |
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$ 460 |
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(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments. |
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Adjustments key |
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A) Revision in Asset retirement obligations associated with the License Termination Plan for the final decommissioning of Fermi 1 — recorded in Operating Expenses — Assets (gains) losses and impairments, net |
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B) Estimated litigation outcome regarding EES Coke Battery — recorded in Operating Expenses — Operation and maintenance |
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C) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, gas, and other — non-utility |
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D) Adjustment to Income Tax Expense due to the One Big Beautiful Bill Act and its impact to the charitable contribution valuation allowance |
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DTE Energy Company |
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Segment Diluted Earnings Per Share (Unaudited)(2) |
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Three Months Ended September 30, |
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2025 |
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2024 |
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Reported
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Pre-tax |
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Income |
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Operating
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Reported
|
|
Pre-tax |
|
Income |
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Operating
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||||
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DTE Electric segment |
$ 2.44 |
|
$ 0.22 |
A |
|
$ (0.06) |
|
|
$ 2.60 |
|
$ 2.11 |
|
$ — |
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$ — |
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|
$ 2.11 |
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DTE Gas segment |
(0.18) |
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— |
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— |
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(0.18) |
|
(0.06) |
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— |
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— |
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(0.06) |
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Non-utility operations |
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DTE Vantage segment |
0.16 |
|
0.03 |
B |
|
— |
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|
0.19 |
|
0.15 |
|
— |
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|
— |
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|
0.15 |
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Energy Trading segment |
0.14 |
|
(0.04) |
C |
|
0.01 |
|
|
0.11 |
|
0.20 |
|
(0.11) |
C |
|
0.03 |
|
|
0.12 |
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Non-utility operations |
0.30 |
|
(0.01) |
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|
0.01 |
|
|
0.30 |
|
0.35 |
|
(0.11) |
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|
0.03 |
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|
0.27 |
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Corporate and Other |
(0.55) |
|
— |
|
|
0.08 |
D |
|
(0.47) |
|
(0.10) |
|
— |
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|
— |
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(0.10) |
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Net Income Attributable |
$ 2.01 |
|
$ 0.21 |
|
|
$ 0.03 |
|
|
$ 2.25 |
|
$ 2.30 |
|
$ (0.11) |
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|
$ 0.03 |
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|
$ 2.22 |
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(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments. |
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(2) Per share amounts are divided by Weighted Average Common Shares Outstanding — Diluted, as noted on the Consolidated Statements of Operations (Unaudited). |
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Adjustments key — see previous page |
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|
DTE Energy Company |
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Segment Net Income (Unaudited) |
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Nine Months Ended September 30, |
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2025 |
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2024 |
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Reported
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|
Pre-tax |
|
Income |
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Operating
|
|
Reported
|
|
Pre-tax |
|
Income |
|
Operating
|
||||
|
|
(In millions) |
||||||||||||||||||
|
DTE Electric segment |
$ 947 |
|
$ 33 |
A |
|
$ (9) |
|
|
1,006 |
|
$ 886 |
|
$ 32 |
G |
|
$ (8) |
|
|
$ 910 |
|
|
|
|
47 |
B |
|
(12) |
|
|
|
|
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|
— |
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— |
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DTE Gas segment |
174 |
|
— |
|
|
— |
|
|
174 |
|
153 |
|
8 |
G |
|
(2) |
|
|
159 |
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Non-utility operations |
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|
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|
DTE Vantage segment |
103 |
|
8 |
C |
|
— |
|
|
111 |
|
74 |
|
(25) |
H |
|
6 |
|
|
55 |
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|
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|
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Energy Trading segment |
84 |
|
(4) |
D |
|
1 |
D |
|
81 |
|
82 |
|
(27) |
D |
|
6 |
|
|
61 |
|
|
|
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|
|
|
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|
|
|
|
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|
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|
Non-utility operations |
187 |
|
4 |
|
|
1 |
|
|
192 |
|
156 |
|
(52) |
|
|
12 |
|
|
116 |
|
|
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Corporate and Other |
(215) |
|
— |
|
|
14 |
E |
|
(185) |
|
(83) |
|
— |
|
|
— |
|
|
(83) |
|
|
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|
— |
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16 |
F |
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— |
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— |
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|
Net Income Attributable |
$ 1,093 |
|
$ 84 |
|
|
$ 10 |
|
|
$ 1,187 |
|
$ 1,112 |
|
$ (12) |
|
|
$ 2 |
|
|
$ 1,102 |
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(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments. |
|||||||||||||||||||
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Adjustments key |
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A) MPSC disallowance of power supply costs previously recorded — recorded in Operating Revenues — Utility operations and Other (Income) and Deductions |
|||||||||||||||||||
|
B) Revision in Asset retirement obligations associated with the License Termination Plan for the final decommissioning of Fermi 1 — records in Operating Expenses — Asset (gains) losses and impairments, net |
|||||||||||||||||||
|
C) Estimated litigation outcome regarding EES Coke Battery — recorded in Operating Expenses — Operation and maintenance |
|||||||||||||||||||
|
D) Certain adjustments resulting from derivatives being marked-to-market without revaluing the underlying non-derivative contracts and assets — recorded in Operating Expenses — Fuel, purchased power, gas, and other — non-utility |
|||||||||||||||||||
|
E) Adjustment to Income Tax Expense due to a tax law change in |
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F) Adjustments to Income Tax Expense due to the One Big Beautiful Bill Act and its impact to the charitable contribution valuation allowance |
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G) One-time costs resulting from the voluntary separation incentive program — recorded in Operating Expenses — Operation and maintenance |
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H) Gain on sale of equity investment — recorded in Other (Income) and Deductions |
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DTE Energy Company |
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Segment Diluted Earnings Per Share (Unaudited)(2) |
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Nine Months Ended September 30, |
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2025 |
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2024 |
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Reported
|
|
Pre-tax |
|
Income |
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Operating
|
|
Reported
|
|
Pre-tax |
|
Income |
|
Operating
|
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|
DTE Electric segment |
$ 4.56 |
|
$ 0.16 |
A |
|
$ (0.04) |
|
|
$ 4.84 |
|
$ 4.28 |
|
$ 0.15 |
G |
|
$ (0.04) |
|
|
$ 4.39 |
|
|
|
|
0.22 |
B |
|
(0.06) |
|
|
|
|
|
|
— |
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— |
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|
DTE Gas segment |
0.84 |
|
— |
|
|
— |
|
|
0.84 |
|
0.74 |
|
0.04 |
G |
|
(0.01) |
|
|
0.77 |
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|
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Non-utility operations |
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|
DTE Vantage segment |
0.50 |
|
0.03 |
C |
|
— |
|
|
0.53 |
|
0.35 |
|
(0.11) |
H |
|
0.03 |
|
|
0.27 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy Trading segment |
0.40 |
|
(0.01) |
D |
|
— |
D |
|
0.39 |
|
0.39 |
|
(0.13) |
D |
|
0.03 |
|
|
0.29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-utility operations |
0.90 |
|
0.02 |
|
|
— |
|
|
0.92 |
|
0.74 |
|
(0.24) |
|
|
0.06 |
|
|
0.56 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other |
(1.04) |
|
— |
|
|
0.07 |
E |
|
(0.89) |
|
(0.40) |
|
— |
|
|
— |
|
|
(0.40) |
|
|
|
|
— |
|
|
0.08 |
F |
|
|
|
|
|
— |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to DTE Energy Company |
$ 5.26 |
|
$ 0.40 |
|
|
$ 0.05 |
|
|
$ 5.71 |
|
$ 5.36 |
|
$ (0.05) |
|
|
$ 0.01 |
|
|
$ 5.32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
(1) Excluding tax related adjustments, the amount of income taxes was calculated based on a combined federal and state income tax rate, considering the applicable jurisdictions of the respective segments and deductibility of specific operating adjustments. |
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|
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|
(2) Per share amounts are divided by Weighted Average Common Shares Outstanding — Diluted, as noted on the Consolidated Statements of Operations (Unaudited). |
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|
Adjustments key — see previous page |
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|
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View original content to download multimedia:https://www.prnewswire.com/news-releases/dte-energy-reports-third-quarter-accomplishments-investments-and-earnings-provides-2026-early-outlook-302598988.html
SOURCE DTE Energy
FAQ
What did DTE (NYSE: DTE) report for third-quarter 2025 net earnings and EPS on Oct. 30, 2025?
What is DTE's confirmed 2025 operating EPS guidance and 2026 early outlook?
What are the details of DTE's 1.4 GW data center agreement announced in October 2025?
How much has DTE invested in its utilities through the third quarter of 2025 and what is the full-year target?
How did DTE's grid upgrades impact outages through the first three quarters of 2025?
Did DTE provide any customer or community support in summer 2025?
