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DTE Energy's Q1 Earnings Miss Estimates, Decrease Year Over Year
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Key Takeaways
DTE Energy Q1 EPS of $1.95 lagged estimates and fell 7.14% from prior-year levels.
DTE Energy invested over $1.2B, cutting outages 60% and restoring 99% of customers within 48 hours.
DTE Energy advances Oracle and Google data center deals with major customer affordability benefits.
DTE Energy Company (DTE - Free Report) delivered first-quarter 2026 earnings per share of $1.95, lagging the Zacks Consensus Estimate of $1.98 by 1.5%. The bottom line decreased 7.14% from the year-ago reported figure of $2.10.
Results reflected continued customer-focused investment, highlighted by more than $1.2 billion deployed across the utilities during the quarter and an ongoing push to support large-load growth opportunities in Michigan.
Highlights of the Release
Beyond the quarter’s earnings surprise, DTE leaned into execution against its reliability and modernization agenda. During first-quarter 2026, the company invested $400 million in electric distribution infrastructure to strengthen grid resiliency.
Those efforts were paired with operational outcomes management emphasized as evidence of progress. DTE cited 60% fewer outages compared with similar historical weather events in the first quarter, while noting that 99% of affected customers saw power restored in less than 48 hours.
DTE Energy Company Price, Consensus and EPS Surprise
While the company’s operating earnings were $407 million in the quarter, down from $436 million a year ago, the path to that outcome was shaped by sizable swings across segments.
DTE Electric was a key offset, with operating earnings of $218 million compared with $147 million in first-quarter 2025.
By contrast, the DTE Gas segment reported operating earnings of $210 million in first-quarter 2026, up from $206 million in the year-ago quarter.
Non-Utility Operations delivered operating earnings of $23 million in first-quarter 2026, down from $73 million in the year-ago quarter.
Data Center Pipeline and Customer Protections
Large-load contracting continued to stand out as a strategic theme. DTE highlighted the 1.4 gigawatt (GW) Oracle data center agreement as approved and in plan, with construction started, and said it executed an agreement with Google to serve a 1.0 GW data center that has been submitted to the Michigan Public Service Commission for approval.
Management framed these contracts around affordability and customer protections. The company quantified the Oracle project as providing about $300 million of annual affordability benefits for existing customers once fully ramped, while the Google agreement is expected to generate about $1.7 billion of affordability benefits over the life of the contract. DTE also pointed to additional pipeline discussions representing roughly 5 GW of potential upside beyond these projects.
DTE’s Energy Details
On operating drivers, DTE’s presentation included a weather and sales view for DTE Electric. Weather-normalized sales were down 2.1% year over year to 10,481 gigawatt-hours, led by lower industrial volumes and ongoing energy optimization impacts across customer classes.
Within the quarter’s operating earnings variance, DTE Electric’s improvement was attributed to the timing of taxes, rate implementation and colder weather, partially offset by higher storm expense and rate base costs.
DTE’s 2026 Guidance
DTE reaffirmed 2026 operating earnings per share guidance of $7.59-$7.73, while emphasizing confidence in achieving the high end of the range. The Zacks Consensus Estimate for earnings is pegged at $7.71 per share, which is near the higher end of the company’s guided range.
For full-year 2026, DTE’s plan calls for $6.72-$6.82 billion of capital expenditures and $3.90 billion of cash from operations.
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which missed the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2026 earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.11 by 1.8%. The bottom line also increased 10.8% from $1.02 in the prior-year quarter.
CMS’ operating revenues totaled $2.73 billion, which topped the Zacks Consensus Estimate of $2.53 billion by 8.1%. The top line also increased 11.6% from $2.45 billion in the prior-year quarter.
Edison International (EIX - Free Report) came out with quarterly earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.32 per share by 7.6%. The bottom line also increased 3.7% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.6% from the year-ago quarter’s figure of $3.81 billion.
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DTE Energy's Q1 Earnings Miss Estimates, Decrease Year Over Year
Key Takeaways
DTE Energy Company (DTE - Free Report) delivered first-quarter 2026 earnings per share of $1.95, lagging the Zacks Consensus Estimate of $1.98 by 1.5%. The bottom line decreased 7.14% from the year-ago reported figure of $2.10.
Results reflected continued customer-focused investment, highlighted by more than $1.2 billion deployed across the utilities during the quarter and an ongoing push to support large-load growth opportunities in Michigan.
Highlights of the Release
Beyond the quarter’s earnings surprise, DTE leaned into execution against its reliability and modernization agenda. During first-quarter 2026, the company invested $400 million in electric distribution infrastructure to strengthen grid resiliency.
Those efforts were paired with operational outcomes management emphasized as evidence of progress. DTE cited 60% fewer outages compared with similar historical weather events in the first quarter, while noting that 99% of affected customers saw power restored in less than 48 hours.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Energy Company price-consensus-eps-surprise-chart | DTE Energy Company Quote
Segmental Details of DTE
While the company’s operating earnings were $407 million in the quarter, down from $436 million a year ago, the path to that outcome was shaped by sizable swings across segments.
DTE Electric was a key offset, with operating earnings of $218 million compared with $147 million in first-quarter 2025.
By contrast, the DTE Gas segment reported operating earnings of $210 million in first-quarter 2026, up from $206 million in the year-ago quarter.
Non-Utility Operations delivered operating earnings of $23 million in first-quarter 2026, down from $73 million in the year-ago quarter.
Data Center Pipeline and Customer Protections
Large-load contracting continued to stand out as a strategic theme. DTE highlighted the 1.4 gigawatt (GW) Oracle data center agreement as approved and in plan, with construction started, and said it executed an agreement with Google to serve a 1.0 GW data center that has been submitted to the Michigan Public Service Commission for approval.
Management framed these contracts around affordability and customer protections. The company quantified the Oracle project as providing about $300 million of annual affordability benefits for existing customers once fully ramped, while the Google agreement is expected to generate about $1.7 billion of affordability benefits over the life of the contract. DTE also pointed to additional pipeline discussions representing roughly 5 GW of potential upside beyond these projects.
DTE’s Energy Details
On operating drivers, DTE’s presentation included a weather and sales view for DTE Electric. Weather-normalized sales were down 2.1% year over year to 10,481 gigawatt-hours, led by lower industrial volumes and ongoing energy optimization impacts across customer classes.
Within the quarter’s operating earnings variance, DTE Electric’s improvement was attributed to the timing of taxes, rate implementation and colder weather, partially offset by higher storm expense and rate base costs.
DTE’s 2026 Guidance
DTE reaffirmed 2026 operating earnings per share guidance of $7.59-$7.73, while emphasizing confidence in achieving the high end of the range. The Zacks Consensus Estimate for earnings is pegged at $7.71 per share, which is near the higher end of the company’s guided range.
For full-year 2026, DTE’s plan calls for $6.72-$6.82 billion of capital expenditures and $3.90 billion of cash from operations.
DTE’s 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
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which missed the Zacks Consensus Estimate of $3.04 billion by 1.4%. However, the top line improved 2% from the year-ago reported figure of $2.92 billion.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2026 earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.11 by 1.8%. The bottom line also increased 10.8% from $1.02 in the prior-year quarter.
CMS’ operating revenues totaled $2.73 billion, which topped the Zacks Consensus Estimate of $2.53 billion by 8.1%. The top line also increased 11.6% from $2.45 billion in the prior-year quarter.
Edison International (EIX - Free Report) came out with quarterly earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.32 per share by 7.6%. The bottom line also increased 3.7% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line also increased 7.6% from the year-ago quarter’s figure of $3.81 billion.