DTE Energy Q2 Profit Down; Raises 2015 Operating EPS View - Quick Facts

(RTTNews) - DTE Energy (DTE) reported second quarter 2015 net income attributable to company of $109 million or $0.61 per share, down from $124 million, or $0.70 per share, in 2014.

Operating earnings for the second quarter 2015 were $137 million, or $0.76 per share, compared with second quarter 2014 operating earnings of $128 million, or $0.73 per diluted share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.85 per share for the quarter. Analysts' estimates typically exclude special items. Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations.

Operating revenues for the quarter dropped to $2.268 billion from $2.698 billion last year. Wall Street expected revenues of $2.52 billion for the quarter.

DTE Energy raised its 2015 operating earnings per share guidance to $4.54 to $4.90 from the prior estimate of $4.48 to $4.72. Analysts expect annual earnings of $4.64 per share.

"Strong ongoing performance at our non-utility businesses provides us with the underlying strength to increase our guidance for 2015. We are confident in raising operating earnings guidance from a mid-point of $4.60 to $4.72 per share for 2015. This confidence in our outlook is further evidenced by our Board of Directors' action in June to increase the quarterly dividend 5.8 percent to $0.73 per share," said Peter Oleksiak, DTE Energy senior vice president and Chief Financial Officer.