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DTE Energy Company (DTE) investor relations material
DTE Energy Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Finalized a 1.4 GW data center agreement, with late-stage negotiations for an additional 3 GW, driving a $6.5 billion increase in the five-year capital investment plan and supporting transformational growth through 2030.
Achieved Q3 2025 reported earnings of $419 million ($2.01 per diluted share), down from $477 million in 2024, while operating earnings rose to $468 million ($2.25 per share), reflecting strong utility segment growth and continued investment in grid modernization and clean energy.
Utility operating earnings are expected to comprise 93% of total earnings by 2030, reflecting a strategic shift toward higher quality, stable utility earnings.
The company continues to invest in infrastructure, targeting 6%-8% annual operating EPS growth through 2030, with a bias toward the upper end of the range and further upside possible from additional data center deals.
Published the 2024 Sustainability Report, highlighting progress in renewables, emissions reduction, and workforce development.
Financial highlights
Q3 2025 operating earnings were $468 million ($2.25 per share), up from $460 million ($2.22 per share) year-over-year; reported net income was $419 million ($2.01 per share), down from $477 million ($2.30 per share) in 2024.
DTE Electric operating earnings increased by $104 million year-over-year, while DTE Gas declined by $25 million due to higher O&M and rate base costs.
DTE Vantage operating earnings increased by $8 million to $41 million, driven by RNG production tax credits.
Energy Trading earned $23 million, with year-to-date results above the high end of guidance.
Operating revenues for Q3 2025 were $2,223 million, up from $1,903 million in Q3 2024.
Outlook and guidance
2025 operating EPS guidance is $7.09–$7.23, reaffirmed at the high end of the range; early 2026 outlook projects $7.59–$7.73 per share, representing 6%-8% growth over 2025 midpoint.
Long-term plan targets 6%-8% annual operating EPS growth through 2030, with additional upside possible from further data center deals.
Equity issuances of $500–$600 million annually planned for 2026–2028 to support increased capital needs.
DTE Electric filed for a $574 million base rate increase, with a final order expected in February 2026.
The company targets net zero carbon emissions by 2050 and compliance with Michigan's 100% clean energy standard by 2040.
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