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DTE Energy (DTE) Q4 Earnings Surpass, Reaffirms 2023 View
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DTE Energy Company (DTE - Free Report) reported fourth-quarter 2022 operating earnings per share (EPS) of $1.31, which surpassed the Zacks Consensus Estimate of $1.22 by 7.4%. The bottom line also increased 24.8% from the year-ago quarter’s $1.05 per share.
For the full-year 2022, DTE reported operating earnings of $6.10 per share compared with $5.52 in the previous year’s quarter. Earnings surpassed the Zacks Consensus Estimate of $6.00 per share by 1.7%.
Highlights of the Release
The operating net income in the reported quarter totaled $266 million compared with $265 million in the year-ago quarter.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Electric: The segment’s operating earnings amounted to $1.03 per share, up from 39 cents in the prior-year quarter.
DTE Gas: The segment reported an operating income of 47 cents per share compared with 35 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings of the segment totaled 4 cents per share compared with 24 cents in the year-ago quarter.
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, pegged at $6.23, lies just below the midpoint of the guided range.
Hawaiian Electric Industries, Inc. (HE - Free Report) reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents per share in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%. The bottom line was also up 24.4% from the prior-year quarter.
For the fourth quarter, NextEra’s operating revenues were $6,164 million, which surpassed the Zacks Consensus Estimate of $5,743 million by 7.3%. The top line improved 22.2% year over year.
Duke Energy Corporation (DUK - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.11 per share, which surpassed the Zacks Consensus Estimate of $1.06 by 4.7%. The bottom line also improved 26.1% year over year.
Total operating revenues came in at $7,351 million, which improved 20.2% from $6,117 million in the year-ago period. The reported top line also surpassed the Zacks Consensus Estimate of $6,608 million by 11.2%.
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DTE Energy (DTE) Q4 Earnings Surpass, Reaffirms 2023 View
DTE Energy Company (DTE - Free Report) reported fourth-quarter 2022 operating earnings per share (EPS) of $1.31, which surpassed the Zacks Consensus Estimate of $1.22 by 7.4%. The bottom line also increased 24.8% from the year-ago quarter’s $1.05 per share.
For the full-year 2022, DTE reported operating earnings of $6.10 per share compared with $5.52 in the previous year’s quarter. Earnings surpassed the Zacks Consensus Estimate of $6.00 per share by 1.7%.
Highlights of the Release
The operating net income in the reported quarter totaled $266 million compared with $265 million in the year-ago quarter.
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 operating earnings amounted to $1.03 per share, up from 39 cents in the prior-year quarter.
DTE Gas: The segment reported an operating income of 47 cents per share compared with 35 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings of the segment totaled 4 cents per share compared with 24 cents in the year-ago quarter.
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, pegged at $6.23, lies just 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
Hawaiian Electric Industries, Inc. (HE - Free Report) reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents per share in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%. The bottom line was also up 24.4% from the prior-year quarter.
For the fourth quarter, NextEra’s operating revenues were $6,164 million, which surpassed the Zacks Consensus Estimate of $5,743 million by 7.3%. The top line improved 22.2% year over year.
Duke Energy Corporation (DUK - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.11 per share, which surpassed the Zacks Consensus Estimate of $1.06 by 4.7%. The bottom line also improved 26.1% year over year.
Total operating revenues came in at $7,351 million, which improved 20.2% from $6,117 million in the year-ago period. The reported top line also surpassed the Zacks Consensus Estimate of $6,608 million by 11.2%.