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Dte Energy Co (DTB) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

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    10-Q Quarterly Report October 2020

Dte Energy Co

CIK: 936340 Ticker: DTB
Exhibit 99.1
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DTE Energy reports strong second quarter 2022 results, raises guidance

Year-to-date performance ahead of plan; raising guidance
Placed Blue Water Energy Center into commercial operation
Ranked among top corporate citizens in nation
Earned 2022 Energy Star Excellence award in Energy Efficiency
Awarded $1.25 million in grants to MI organizations advancing critical education and employment programs

DETROIT, July 28, 2022 – DTE Energy (NYSE:DTE) today reported second quarter 2022 earnings of $37 million, or $0.19 per diluted share, compared with $179 million, or $0.92 per diluted share in 2021.

Operating earnings for the second quarter 2022 were $171 million, or $0.88 per diluted share, compared with 2021 operating earnings of $235 million, or $1.22 per diluted share. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. Reconciliations of reported earnings to operating earnings are included at the end of this news release.

“Our company continues to make significant progress on many fronts,” said Jerry Norcia, DTE Energy chairman, president and CEO. “From advancements in carbon reduction and energy generation, to ongoing upgrades in energy infrastructure and reliability improvements, we support the needs of our customers in the communities we serve. Given the strong first half of the year, we are ahead of plan and are raising guidance for the full year from a midpoint of $5.90 to $6.00 per share.”

Norcia noted the following accomplishments:

Placed Blue Water Energy Center into commercial operation: Completed on time and on budget, the natural gas plant provides cleaner, reliable, affordable power for 850,000 homes and is DTE’s largest step in reducing carbon emissions to date. The combination of investments in power generation assets that can run 24/7, plus the expansion of renewables, has helped DTE achieve a 30 percent reduction in carbon emissions from 2005 levels.

Ranked as one of the country's top corporate citizens by Points of Light: Marking the fifth consecutive year earning this high distinction, DTE was named to the Civic 50 – the top 50 companies nationwide in corporate citizenship – by Points of Light, the world's largest organization dedicated to volunteer service. DTE was also recognized as the leading utility sector company nationally.



The following information was filed by Dte Energy Co (DTB) on Thursday, July 28, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Dte Energy Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Cash Flows (Unaudited) - Dte Electric Company
Consolidated Statements Of Changes In Equity (Unaudited)
Consolidated Statements Of Changes In Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Changes In Shareholder's Equity (Unaudited) - Dte Electric Company
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Unaudited) - Dte Electric Company
Consolidated Statements Of Financial Position (Unaudited)
Consolidated Statements Of Financial Position (Unaudited) (Parenthetical)
Consolidated Statements Of Financial Position (Unaudited) - Dte Electric Company
Consolidated Statements Of Financial Position (Unaudited) - Dte Electric Company (Parenthetical)
Consolidated Statements Of Operations (Unaudited)
Consolidated Statements Of Operations (Unaudited) - Dte Electric Company
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Discontinued Operations
Discontinued Operations (Financial Results That Have Been Reclassified From Continuing Operations And Included In Discontinued Operations) (Details)
Discontinued Operations (Significant Non-Cash Items And Capital Expenditures) (Details)
Discontinued Operations (Tables)
Earnings Per Share
Earnings Per Share (Basic And Diluted Income Per Share Calculation) (Details)
Earnings Per Share (Tables)
Fair Value
Fair Value (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details)
Fair Value (Details Textuals)
Fair Value (Fair Value And Unrealized Gains And Losses For The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Fair Value Of Financial Instruments) (Details)
Fair Value (Fair Value Of Fixed Income Securities Held In Nuclear Decommissioning Trust Funds (Details)
Fair Value (Fair Value Of Nuclear Decommissioning Trust Fund Assets) (Details)
Fair Value (Gains (Losses) Related To The Trust) (Details)
Fair Value (Gains And Losses And Proceeds From The Sale Of Securities By The Nuclear Decommissioning Trust Funds) (Details)
Fair Value (Reconciliation Of Level 3 Assets And Liabilities At Fair Value On A Recurring Basis) (Details)
Fair Value (Tables)
Fair Value (Unobservable Inputs Related To Level 3 Assets And Liabilities) (Details)
Financial And Other Derivative Instruments
Financial And Other Derivative Instruments (Cumulative Gross Volume Of Derivative Contracts Outstanding) (Details)
Financial And Other Derivative Instruments (Details Textuals)
Financial And Other Derivative Instruments (Effect Of Derivatives Not Designated As Hedging Instruments On The Consolidated Statement Of Operations) (Details)
Financial And Other Derivative Instruments (Fair Value Of Derivative Instruments) (Details)
Financial And Other Derivative Instruments (Net Cash Collateral Offsetting Arrangements) (Details)
Financial And Other Derivative Instruments (Netting Offsets Of Derivative Assets And Liabilities) (Details)
Financial And Other Derivative Instruments (Netting Offsets Reconciliation To Balance Sheet) (Details)
Financial And Other Derivative Instruments (Tables)
Leases
Leases (Components Of Net Investment In Finance Leases) (Details)
Leases (Details Textuals)
Leases (Lease Income Associated With Operating Leases) (Details)
Leases (Tables)
Long-Term Debt
Long-Term Debt (Details Textuals)
Long-Term Debt (Schedule Of Debt Redeemed) (Details)
Long-Term Debt (Schedule Of Issued Debt) (Details)
Long-Term Debt (Tables)
New Accounting Pronouncements
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Details Textuals)
Organization And Basis Of Presentation (Non-Consolidated Variable Interest Entities) (Details)
Organization And Basis Of Presentation (Tables)
Regulatory Matters
Regulatory Matters (Details Textuals)
Retirement Benefits And Trusteed Assets
Retirement Benefits And Trusteed Assets (Details Textuals)
Retirement Benefits And Trusteed Assets (Details)
Retirement Benefits And Trusteed Assets (Tables)
Revenue
Revenue (Deferred Revenue Activity) (Details)
Revenue (Disaggregation Of Revenue By Segment) (Details)
Revenue (Expected Recognition Of Deferred Revenue) (Details)
Revenue (Expected Timing Of Performance Obligation Satisfaction) (Details)
Revenue (Revenues Outside The Scope Of Topic 606) (Details)
Revenue (Tables)
Segment And Related Information
Segment And Related Information (Details Textuals)
Segment And Related Information (Financial Data - Inter-Segment Billing) (Details)
Segment And Related Information (Financial Data - Net Income (Loss) Attributable To Dte Energy By Segment) (Details)
Segment And Related Information (Financial Data - Operating Revenues Including Inter-Segment Revenues) (Details)
Segment And Related Information (Tables)
Short-Term Credit Arrangements And Borrowings
Short-Term Credit Arrangements And Borrowings (Details Textuals)
Short-Term Credit Arrangements And Borrowings (Details)
Short-Term Credit Arrangements And Borrowings (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details Textuals)
Significant Accounting Policies (Financing Receivables Classified By Internal Grade Of Credit Risk) (Details)
Significant Accounting Policies (Income Taxes) (Details)
Significant Accounting Policies (Other Income) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Roll-Forward Of Activity For Financing Receivables Credit Loss Reserves) (Details)
Significant Accounting Policies (Tables)
Significant Accounting Policies (Uncollectible Expense) (Details)
Ticker: DTB
CIK: 936340
Form Type: 10-Q Quarterly Report
Accession Number: 0000936340-22-000177
Submitted to the SEC: Thu Jul 28 2022 9:26:52 AM EST
Accepted by the SEC: Thu Jul 28 2022
Period: Thursday, June 30, 2022
Industry: Electric Services

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