Yahoo Finance DTE Energy (DTE) Q3 Earnings Miss Estimates, EPS View Down
DTE Energy Company DTE reported third-quarter 2023 operating earnings per share (EPS) of $1.44 per share, which missed the Zacks Consensus Estimate of $1.72 by 16.3%. The bottom line also declined 10% from the year-ago quarter’s reported figure of $1.60 per share.
The company reported GAAP earnings of $1.61 per share compared with $1.99 in the prior-year quarter.
Highlights of the Release
The operating net income in the quarter was $298 million compared with $311 million in the year-ago period.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Energy Company price-consensus-eps-surprise-chart | DTE Energy Company Quote
Segmental Details
Utility Operations
DTE Electric: The segment’s earnings were $1.30 per share compared with $1.80 in the prior-year quarter.
DTE Gas: The segment reported a loss of 3 cents per share compared with 12 cents in the year-ago period.
Non-Utility Operations: The segment reported operating earnings of 43 cents per share compared with 2 cents in the corresponding quarter of 2022.
2023 Guidance
DTE Energy updated its 2023 operating EPS projection. The company now expects operating EPS in the range of $5.65-$5.85, down from the prior expectation in the band of $6.09-$6.40. The Zacks Consensus Estimate for earnings is pegged at $6.18 per share, which lies above the midpoint of the company’s guided range.
Zacks Rank
DTE Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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