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DTE Energy (DTE) to Post Q4 Earnings: What's in the Cards?

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DTE Energy Company (DTE - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 8, before the opening bell.

In the last reported quarter, the company delivered a negative earnings surprise of 13.77%. DTE has a trailing four-quarter average earnings surprise of 0.31%.

Factors to Note

During the fourth quarter, DTE Energy’s service territories witnessed a warmer-than-normal weather pattern accompanied by below-normal precipitation. However, in November, DTE’s customers experienced snowfall. So, the overall impact of weather on its quarterly top-line performance is expected to have been moderate.

DTE Energy Company Price and EPS Surprise

DTE Energy Company Price and EPS Surprise

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

The Zacks Consensus Estimate for revenues is pegged at $4.97 billion, indicating an improvement of 11.1% year over year.

Higher earnings from its new RNG projects, opportunistic sales in the steel business and DTE’s Operation & Maintenance cost reduction efforts are expected to have boosted its bottom-line performance in the fourth quarter. Strong top-line expectations might have also benefitted earnings.

The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.97 per share, implying an improvement of 50.4% from the prior-year reported number.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for DTE Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.

Earnings ESP: The company’s Earnings ESP is -2.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: DTE currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are three Utility players that have the right combination of elements to come up with an earnings beat this reporting cycle.

IDACORP (IDA - Free Report) has an Earnings ESP of +2.52% and a Zacks Rank #2 at present. The company delivered a four-quarter average earnings surprise of 13.25%.

The Zacks Consensus Estimate for IDA’s fourth-quarter sales is pegged at $429.84 million, indicating growth of 1.6% from that recorded in the prior-year quarter. The consensus mark for earnings stands at 60 cents per share.

NiSource (NI - Free Report) has an Earnings ESP of +1.92% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 52 cents per share, implying a 4% increase from that reported in the prior-year quarter.

The consensus mark for NI’s sales stands at $1.59 billion. The company delivered an earnings surprise of 35.71% in the last reported quarter.

The Southern Company (SO - Free Report) has an Earnings ESP of +2.95% and a Zacks Rank #2 at present. The Zacks Consensus Estimate for fourth-quarter earnings is pinned at 59 cents per share, indicating a 126.9% increase year over year.

The Southern Company delivered a four-quarter average earnings surprise of 8.49%. The consensus mark for SO’s fourth-quarter sales is pegged at $7.74 billion, indicating growth of 9.8% from that recorded in the prior-year quarter.

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


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