Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $25.18B|Employees: 9.9K
DTE Energy Company is a diversified energy company with utility operations primarily through DTE Electric and DTE Gas. DTE Electric is a public utility engaged in the generation, purchase, distribution, and sale of electricity in southeastern Michigan, while DTE Gas is a public utility engaged in the purchase, storage, transportation, distribution, and sale of natural gas throughout Michigan. DTE Energy also has non-utility operations through DTE Vantage and Energy Trading.
Net income attributable to DTE Energy Company increased to $322 million for the three months ended June 30, 2024, compared to $201 million for the same period in 2023. This increase is also reflected in the diluted earnings per common share, which rose from $0.97 to $1.55.
DTE Electric's net income rose to $278 million for the three months ended June 30, 2024, compared to $179 million for the same period in 2023. This increase is attributable to higher utility operating income.
Utility operations revenue increased to $1.879 billion for the three months ended June 30, 2024, compared to $1.617 billion for the same period in 2023. This increase is driven by higher revenue in the Electric segment.