DTE Energy (NYSE: DTE ) reported earnings on July 26. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), DTE Energy beat expectations on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share dropped significantly. GAAP earnings per share shrank significantly.
Margins dropped across the board.
DTE Energy reported revenue of $2.23 billion. The four analysts polled by S&P Capital IQ wanted to see sales of $1.98 billion on the same basis. GAAP reported sales were 11% higher than the prior-year quarter's $2.01 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.62. The 11 earnings estimates compiled by S&P Capital IQ predicted $0.77 per share. Non-GAAP EPS of $0.62 for Q2 were 28% lower than the prior-year quarter's $0.86 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.) GAAP EPS of $0.60 for Q2 were 30% lower than the prior-year quarter's $0.86 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 26.1%, 440 basis points worse than the prior-year quarter. Operating margin was 10.2%, 420 basis points worse than the prior-year quarter. Net margin was 4.7%, 260 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.41 billion. On the bottom line, the average EPS estimate is $1.24.
Next year's average estimate for revenue is $9.38 billion. The average EPS estimate is $4.06.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 133 members out of 160 rating the stock outperform, and 27 members rating it underperform. Among 43 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 34 give DTE Energy a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on DTE Energy is hold, with an average price target of $70.50.
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