DTE Energy Boosts FY22 Operating Earnings Outlook

(RTTNews) - While reporting financial results for the second quarter on Thursday, gas and electric utility DTE Energy Co. (DTE) raised its operating earnings guidance for the full-year 2022, based on the first-half results.

For fiscal 2022, DTE Energy now projects operating earnings in a range of $5.90 to $6.10 per share, up from the prior guidance range of $5.80 to $6.00 per share.

On average, 17 analysts polled by Thomson Reuters expect the company to report earnings of $5.98 per share for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net earnings of $37 million or $0.19 per share, sharply lower than $179 million or $0.92 per share in the prior-year quarter.

Excluding items, operating earnings for the quarter was $0.88 per share, compared to $1.22 per share in the year-ago quarter.

The Street was looking for earnings of $1.06 per share for the quarter.

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