DTE Energy Company (DTE) investor relations material

Executive summary

• 2026 began with strong operational and financial momentum, with major data center agreements (Oracle and Google) and grid investments driving growth, reliability, and affordability improvements.

• Net income attributable to the parent was $247 million for Q1 2026, down from $445 million in Q1 2025, mainly due to lower Energy Trading and DTE Vantage earnings, partially offset by higher Electric segment earnings.

• Operating EPS guidance midpoint for 2026 provides 7% growth over 2025, with upside from RNG tax credits and new data center contracts.

• The company continues to invest in grid modernization, clean energy, and reliability, with a focus on long-term earnings growth and a strong balance sheet.

• Earned multiple workplace honors and marked 10 years of supporting Michigan small businesses with energy efficiency grants.

Financial highlights

• Q1 2026 operating earnings were $407 million ($1.95 per share), down from $436 million ($2.10 per share) in Q1 2025; net income was $247 million ($1.19 per share), down from $445 million ($2.14 per share) in Q1 2025.

• DTE Electric earnings were $218 million, up $71 million year-over-year; DTE Gas earnings were $210 million, up $4 million; DTE Vantage up $9 million; Energy Trading earnings declined.

• Q1 2026 consolidated operating revenues were $2.62 billion, up from $2.52 billion in Q1 2025.

• Cash from operations was $906 million, down from $1.02 billion in Q1 2025; capital expenditures for Q1 2026 were $1.23 billion.

• Dividend declared: $1.17 per share for Q1 2026.

Outlook and guidance

• Reaffirmed 2026 operating EPS guidance of $7.59–$7.73, with confidence in achieving the high end and a long-term EPS growth target of 6%-8% through 2030.

• Data center pipeline could drive over 8% operating EPS CAGR from 2027–2030.

• DTE Electric's capital investments for 2026-2030 are estimated at $30 billion, with $11 billion for distribution, $4 billion for base infrastructure, and $15 billion for cleaner generation.

• DTE Gas plans $4.5 billion in capital investments over the same period.

• The company targets net zero carbon emissions by 2050 and compliance with Michigan's 100% clean energy portfolio standard by 2040.