DTE Energy Company (DTE - Free Report) reported first-quarter 2023 operating earnings per share (EPS) of $1.33, which missed the Zacks Consensus Estimate of $1.38 by 3.6%. The bottom line also decreased 42.4% from the year-ago quarter’s reported figure of $2.31 per share.
The company reported GAAP earnings of $2.16 per share compared with $2.03 in the prior year quarter.
Highlights of the Release
Operating net income in the quarter totaled $274 million compared with $448 million in the year-ago period.
Segmental Details
Utility Operations
DTE Electric: The segment’s earnings were 49 cents per share compared with $1.04 in the prior-year quarter.
DTE Gas: The segment reported earnings of 83 cents per share compared with $1.01 in the prior-year quarter.
Non-Utility Operations: Reported earnings in this segment were 13 cents per share compared with 7 cents in the year-ago period.
2023 Guidance
DTE Energy reaffirmed its 2023 operating EPS guidance in the range of $6.09-$6.40. The Zacks Consensus Estimate for 2023 earnings is pegged at $6.18 per share, which lies below the midpoint of the 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.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.
NextEra’s operating revenues were $6,716 million, which beat the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.
Entergy’s revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.
American Water Works (AWK - Free Report) reported first-quarter 2023 earnings of $0.91 per share, which missed the Zacks Consensus Estimate of $0.92 per share. The company reported earnings of $0.87 per share in the year-ago period.
AWK’s revenues of $938 million surpassed the Zacks Consensus Estimate by 6.82%. The company reported revenues of $842 million in the prior-year quarter.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
DTE Energy Company (DTE - Free Report) reported first-quarter 2023 operating earnings per share (EPS) of $1.33, which missed the Zacks Consensus Estimate of $1.38 by 3.6%. The bottom line also decreased 42.4% from the year-ago quarter’s reported figure of $2.31 per share.
The company reported GAAP earnings of $2.16 per share compared with $2.03 in the prior year quarter.
Highlights of the Release
Operating net income in the quarter totaled $274 million compared with $448 million in the year-ago period.
Segmental Details
Utility Operations
DTE Electric: The segment’s earnings were 49 cents per share compared with $1.04 in the prior-year quarter.
DTE Gas: The segment reported earnings of 83 cents per share compared with $1.01 in the prior-year quarter.
Non-Utility Operations: Reported earnings in this segment were 13 cents per share compared with 7 cents in the year-ago period.
2023 Guidance
DTE Energy reaffirmed its 2023 operating EPS guidance in the range of $6.09-$6.40. The Zacks Consensus Estimate for 2023 earnings is pegged at $6.18 per share, which lies below the midpoint of the 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.
Recent Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2023 adjusted earnings of 84 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 12%. The bottom line also increased 13.5% from that reported in the prior-year quarter.
NextEra’s operating revenues were $6,716 million, which beat the Zacks Consensus Estimate of $5,777 million by 16.2%. The top line also improved 132.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2023 earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.34 by 14.9%. The reported figure also declined 13.6% from $1.32 per share in the year-ago quarter.
Entergy’s revenues of $2,981.1 million beat the Zacks Consensus Estimate of $2,804.2 million by 6.4%. The figure also improved 3.6% from $2,877.9 million in the year-ago quarter due to higher Electric revenues.
American Water Works (AWK - Free Report) reported first-quarter 2023 earnings of $0.91 per share, which missed the Zacks Consensus Estimate of $0.92 per share. The company reported earnings of $0.87 per share in the year-ago period.
AWK’s revenues of $938 million surpassed the Zacks Consensus Estimate by 6.82%. The company reported revenues of $842 million in the prior-year quarter.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Get the latest research report on NEE - FREE
Get the latest research report on ETR - FREE
Get the latest research report on DTE - FREE
Get the latest research report on AWK - FREE