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DTE Energy (DTE) Q1 Earnings Surpass Estimates, Rise Y/Y
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DTE Energy Company (DTE - Free Report) reported first-quarter 2022 operating earnings per share (EPS) of $2.31, which surpassed the Zacks Consensus Estimate of $2.06 by 12.1%. The bottom line also increased 15.5% from the year-ago quarter’s $2 per share.
The company reported GAAP earnings of $2.03 per share compared with earnings of $2.05 in the year-ago quarter.
Highlights of the Release
Operating net income in the reported quarter totaled $448 million compared with $389 million in the year-ago quarter.
The company announced that its MIGreenPower program achieved nearly 500 business contracts and more than 50,000 residential subscribers, as of Mar 31, 2022.
DTE Energy Company Price, Consensus and EPS Surprise
DTE Electric: The segment’s operating earnings amounted to $1.04 per share, down from $1.07 in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of $1.01 per share compared with 87 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings of the segment totaled 30 cents per share compared with 22 cents in the year-ago quarter.
2022 Guidance
DTE Energy reaffirmed its 2022 operating EPS guidance in the range of $5.80-$6.00. The Zacks Consensus Estimate for 2022 earnings, pegged at $5.96, lies near the higher end of the guided range.
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2022 operating earnings per share (EPS) of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined 13% from the year-ago earnings of 69 cents per share.
The company generated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. The top line improved 8.7% from $2,752 million in the year-ago quarter.
NextEra Energy (NEE - Free Report) reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.
Its operating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. The top line also decreased 22.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined 10.2% from $1.47 per share in the year-ago quarter.
Its first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. Further, revenues increased 1.2% from $2.84 billion in the year-ago quarter.
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DTE Energy (DTE) Q1 Earnings Surpass Estimates, Rise Y/Y
DTE Energy Company (DTE - Free Report) reported first-quarter 2022 operating earnings per share (EPS) of $2.31, which surpassed the Zacks Consensus Estimate of $2.06 by 12.1%. The bottom line also increased 15.5% from the year-ago quarter’s $2 per share.
The company reported GAAP earnings of $2.03 per share compared with earnings of $2.05 in the year-ago quarter.
Highlights of the Release
Operating net income in the reported quarter totaled $448 million compared with $389 million in the year-ago quarter.
The company announced that its MIGreenPower program achieved nearly 500 business contracts and more than 50,000 residential subscribers, as of Mar 31, 2022.
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 $1.04 per share, down from $1.07 in the prior-year quarter.
DTE Gas: The segment recorded operating earnings of $1.01 per share compared with 87 cents in the prior-year quarter.
Non-Utility Operations: Operating earnings of the segment totaled 30 cents per share compared with 22 cents in the year-ago quarter.
2022 Guidance
DTE Energy reaffirmed its 2022 operating EPS guidance in the range of $5.80-$6.00. The Zacks Consensus Estimate for 2022 earnings, pegged at $5.96, lies near the higher end 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.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2022 operating earnings per share (EPS) of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined 13% from the year-ago earnings of 69 cents per share.
The company generated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. The top line improved 8.7% from $2,752 million in the year-ago quarter.
NextEra Energy (NEE - Free Report) reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.
Its operating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. The top line also decreased 22.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined 10.2% from $1.47 per share in the year-ago quarter.
Its first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. Further, revenues increased 1.2% from $2.84 billion in the year-ago quarter.