DTEDte EnergyQ2 2026Earnings Analysis

MixedFundamentals score5 / 10

How is this scored?

A fixed rule set over this filing's XBRL figures and the number of high-severity risks found in it — no model judgement.

Base score5

Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →

AI Takeaway

In 2026-Q2, DTE Energy’s net income attributable to DTE Energy Company increased 23% year over year to $282M, driven primarily by improved Energy Trading and Corporate and Other results, while Electric segment earnings declined and the company continued to fund a large utility capital program. Source: 10-Q Item 2 MD&A, p.53.

Filed Jul 28, 2026 · Source: SEC EDGAR 10-Q filing

Next DTE earnings expected Oct 28, 2026

Revenue Growth, Margins & Profitability

DTE reported $282M of net income and $1.35 diluted EPS in 2026-Q2, with stronger Energy Trading results offsetting weaker Electric segment earnings and continued heavy capital spending.

DTE vs Analyst Expectations

Jun 2026This filing

Actual$1.32

Est.$1.18

Beat +11.8%

Mar 2026

Actual$1.95

Est.$2.03

Miss -3.9%

Dec 2025

Actual$1.65

Est.$1.54

Beat +7.2%

Sep 2025

Actual$2.25

Est.$2.13

Beat +5.7%

Last 4 quarters: 3 beats, 1 miss

Reported EPS of $1.32 versus the $1.18 analyst consensus — a +11.8% beat for Jun 2026.

DTE Q2 2026 Management Discussion Highlights

$282M$1.35$229M

Quarterly earnings increased, but six-month earnings declined

Net income attributable to DTE Energy Company was $282M, or $1.35 per diluted share, for the three months ended June 30, 2026, compared with $229M, or $1.10 per share, a year earlier. For the six months ended June 30, 2026, net income was $529M versus $674M, primarily reflecting lower DTE Vantage, Energy Trading, and Corporate and Other earnings, partly offset by higher Electric earnings.

Source: 10-Q Item 2 MD&A, p.53

$270M$318M$89M

Electric segment earnings fell despite higher revenue

Electric segment net income declined to $270M in the three months ended June 30, 2026 from $318M in the prior-year period. Operating revenue increased $89M to $1.775B, helped by $118M of Power Supply Cost Recovery and $60M from new rates, but operating income declined to $370M from $415M as fuel and purchased-power costs, operations and maintenance expense, and depreciation increased.

Source: 10-Q Item 2 MD&A, pp.56-58

$30.0B$15.0B$4.5B

Large regulated capital program and incremental data-center investment

DTE Electric estimates $30.0B of capital investment for 2026-2030, including $15.0B for cleaner generation, and DTE Gas estimates $4.5B over the same period. Separately, DTE Electric entered a 1.0-gigawatt data-center agreement in March 2026 that is expected to add approximately $5.0B of capital expenditures through 2032 beyond its five-year plan, subject to targeted regulatory approvals in the second half of 2026.

Source: 10-Q Item 2 MD&A, pp.54, 58

$14M$70M$124M

DTE Vantage’s first-half result was affected by litigation penalties

DTE Vantage reported a $14M net loss for the six months ended June 30, 2026, versus $70M of net income in the prior-year period. Operations and maintenance expense rose $124M, primarily due to $112M of additional litigation penalties in the Steel business related to the EES Coke judgment.

Source: 10-Q Item 2 MD&A, pp.60-61

$1.679B$50M$2.914B

Operating cash flow was stable, while investment outflows increased

Net cash from operating activities was $1.679B in the first six months of 2026, down $50M year over year, while net cash used for investing activities increased to $2.914B from $2.022B. Management expects approximately $3.9B of operating cash flow and approximately $6.8B of base-level utility and non-utility capital investments for full-year 2026.

Source: 10-Q Item 2 MD&A, p.64

DTE Guidance & Outlook

This analysis does not extract a guidance section. Companies issue revenue and EPS outlook in the 8-K press release and on the earnings call rather than in the 10-Q itself — though the filing's management discussion can contain forward-looking statements, which appear in the highlights above where they were material.

Dte Energy (DTE) is next expected to report on Oct 28, 2026, when the following quarter's results and any updated outlook will be available.

See the DTE earnings preview — expected date, analyst estimates and what to watch →

DTE Financial Charts & Detailed Metrics

Key Metrics

DTE Q2 2026 Earnings FAQ

What were the key takeaways from DTE Energy’s 2026-Q2 earnings report?

DTE Energy reported $282M of net income attributable to DTE Energy Company and $1.35 of diluted EPS for the three months ended June 30, 2026, compared with $229M and $1.10, respectively, a year earlier. The quarterly increase was primarily attributed to higher Energy Trading and Corporate and Other earnings, partly offset by lower Electric segment earnings. Source: 10-Q Item 2 MD&A, pp.53, 55.

Why did DTE Energy’s Electric segment earnings decline in 2026-Q2?

Electric segment net income declined to $270M from $318M in the prior-year quarter, even as operating revenue rose $89M to $1.775B. Higher fuel and purchased-power expense, operations and maintenance expense, depreciation and amortization, and taxes other than income outweighed the revenue increase. Source: 10-Q Item 2 MD&A, pp.56-58.

What is DTE Energy spending on infrastructure and clean energy in 2026-Q2?

DTE Electric estimates $30.0B of capital investments over 2026-2030, including $11.0B for distribution infrastructure and $15.0B for cleaner generation, while DTE Gas estimates $4.5B over that period. DTE Energy also expects approximately $6.8B of base-level utility and non-utility capital investment in 2026. Source: 10-Q Item 2 MD&A, pp.54, 64.

How did DTE Vantage perform in 2026-Q2?

DTE Vantage earned $45M in the three months ended June 30, 2026, up from $31M a year earlier, helped by higher demand and prices in its Steel business and higher renewable production tax credits. However, its six-month result was a $14M loss, largely because of $112M in additional EES Coke litigation penalties recorded in Steel-business operating and maintenance expense. Source: 10-Q Item 2 MD&A, pp.60-61.

What rate cases and regulatory actions did DTE Energy disclose in 2026-Q2?

DTE Electric requested a $474M base-rate increase and a return on equity increase from 9.9% to 10.25%, with a final Michigan Public Service Commission order expected in February 2027. DTE Gas requested a $163M net base-rate increase and an ROE increase from 9.8% to 10.25%, with a final order expected in September 2026. Source: 10-Q Item 2 MD&A, pp.58, 60.

When is the next DTE earnings date?

Dte Energy (DTE) is next expected to report earnings on Oct 28, 2026. The date comes from the analyst earnings calendar and can shift until the company confirms it.

Next DTE Earnings

DTE Q3 2026 Earnings Preview

Expected release date, analyst estimates & what to watch

More DTE Earnings Reports

DTE Q1 FY2026

DTE Energy reported a significant earnings decline in Q1 FY2026, with net income falling 44.5% year-over-year to $247M and EPS dropping to $1.19, even as total assets grew 11.2% to $55.1B reflecting continued capital investment.

DTE FY2025

DTE Energy delivered solid FY2025 results with operating income rising 13.5% to $2.37B and net income up 4.1% to $1.46B, supported by continued capital investment, though the company carries a current ratio below 1.0 and growing long-term debt of $25.3B.

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DTEDte EnergyQ2 2026