DTE Energy Co. Earnings: Here’s Why Investors are Not Excited Now
DTE Energy Co. (NYSE:DTE) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.08%.
DTE Energy Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.41% to $0.85 in the quarter versus EPS of $0.88 in the year-earlier quarter.
Revenue: Rose 8.1% to $2.35 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: DTE Energy Co. reported adjusted EPS income of $0.85 per share. By that measure, the company missed the mean analyst estimate of $0.86. It missed the average revenue estimate of $2.48 billion.
Quoting Management: “In 2012, we started a multi-year program focused on improving electric reliability and we are confident this will provide a positive impact on our customers’ experience,” Anderson said. “In 2013 we are committing an additional $50 million in capital to improve system reliability in key areas that have had high outage frequency in recent years, effectively doubling the level of investment in these areas.
“Becoming the best operated energy company in North America remains our aspiration,” Anderson added. “We will continue to work hard for our customers and shareholders to reach new levels of financial, operational and reliability excellence during the upcoming year.”
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