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What's in the Offing for DTE Energy (DTE) in Q2 Earnings?

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DTE Energy Company (DTE - Free Report) is slated to report second-quarter 2022 results on Jul 28 before the opening bell. 

Its bottom line outpaced the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 8.97%.

Factors to Note

During the second quarter, DTE Energy’s service territories witnessed warmer-than-normal temperatures. This, in turn, is likely to have boosted the electricity demand for cooling purposes among the company’s customers. Such weather patterns are expected to have contributed to the company’s revenues.

However, DTE’s service territories experienced significant precipitation levels in the second quarter, resulting in wet weather conditions. This might have lowered the demand for electricity among its customers, thus impacting the overall revenues of the company in the soon-to-be-reported quarter.

The Zacks Consensus Estimate for second-quarter revenues is pegged at $3.13 billion, suggesting a decline of 2.9% from the year-ago quarter.

From the cost perspective, the higher rate-based cost and increased operating and maintenance expenses are likely to have dented the bottom line of the company in the soon-to-be-reported quarter.

The Zacks Consensus Estimate for second-quarter earningsis pegged at $1 per share, indicating a decline of 41.2% from the prior-year reported figure.

DTE Energy Company Price and EPS Surprise

DTE Energy Company Price and EPS Surprise

DTE Energy Company price-eps-surprise | DTE Energy Company Quote

What the Zacks Model Unveils

Our proven model predicts an earnings beat for DTE Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.

Earnings ESP: The company’s Earnings ESP is +3.41%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: DTE carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Other Stocks to Consider

Here are three Utilities you may want to consider as these also have the right combination of elements to post an earnings beat this season:

American Electric Power Company, Inc(AEP - Free Report) has an Earnings ESP of +6.20% and a Zacks Rank #2. The Zacks Consensus Estimate for American Electric’s second-quarter revenues is pegged at $4.19 billion, suggesting growth of 9.6% from the year-ago quarter. The Zacks Consensus Estimate for AEP’s second-quarter earnings is pegged at $1.13 per share, indicating a decline of 4.2% from the prior-year reported figure.

Consolidated Edison (ED - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings is pegged at 58 cents per share, indicating growth of 9.4% from the prior-year reported figure.

Consolidated Edison boasts a long-term earnings growth rate of 2%. The Zacks Consensus Estimate for ED’s second-quarter sales is pegged at $3.13 billion, suggesting growth of 5.4% from the prior-year reported figure.

PG&E Corporation (PCG - Free Report) has an Earnings ESP of +1.70% and a Zacks Rank #3. The Zacks Consensus Estimate for its second-quarter earnings, pegged at 30 cents per share, implies growth of 11.1% from the prior-year quarter’s tally.

PG&E boasts a long-term earnings growth rate of 2.5%. PCG has a four-quarter earnings surprise of 0.20%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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