DTE Energy Company (DTE) Q3 2026 earnings summary

Executive summary

• Agreed to sell most Vantage assets, excluding EES Coke, for $3.0B; closing is expected in H1 2027, subject to approvals and closing conditions.

• The sale supports a $44.2B 2027–2031 utility investment plan and a strategic focus on regulated electric and gas operations.

• Google and Oracle data center agreements and further large-load opportunities support investment, customer affordability and long-term growth.

Financial highlights

• Q3 operating earnings were $481M, or $2.30 per share, versus $468M, or $2.25, in Q3 2025; reported earnings were $470M versus $419M.

• 9M reported earnings were $999M versus $1.093B; operating earnings were $1.162B versus $1.187B.

• 2026 operating EPS guidance of $7.59–$7.73 was affirmed; management expects to reach the high end, supported by non-utility earnings and RNG tax credits.

Outlook and guidance

• 2027 pro forma operating EPS baseline is $7.59–$7.73, with a $7.66 midpoint; it reflects the Vantage sale and is sensitive to closing timing and use of proceeds.

• Long-term operating EPS CAGR target is above 9% through 2031, with growth well above 9% in 2028–2029 as data center investment ramps.

• Expected 2026 cash from operations is ~$3.9B; planned capital expenditures are ~$6.8B.