DTE Energy Company Earnings Cheat Sheet: Booking a Profit Again

S&P 500 (NYSE:SPY) component DTE Energy Company (NYSE:DTE) reported net income above Wall Street’s expectations for the third quarter. DTE Energy provides electricity and natural gas sales, distribution, and storage services throughout southeastern Michigan.

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DTE Energy Company Earnings Cheat Sheet for the Third Quarter

Results: Net income for DTE Energy Company rose to $183 million ($1.07 per share) vs. $163 million (96 cents per share) in the same quarter a year earlier. This marks a rise of 12.3% from the year earlier quarter.

Revenue: Rose 5.9% to $2.27 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: DTE beat the mean analyst estimate of 98 cents per share. It beat the average revenue estimate of $2.13 billion.

Quoting Management: “DTE Energy delivered good results in the third quarter, and we are on track to achieve our 2011 goals,” said Gerard M. Anderson, DTE Energy chairman, president and CEO. “Our aspiration is to be the best operated energy company in North America and our employees take great pride in finding opportunities to control costs, strengthen operating performance, and improve our customers’ experiences with DTE Energy.”

Key Stats:

The company has now beaten estimates the last two quarters. In the second quarter, it topped expectations with net income of 65 cents versus a mean estimate of net income of 51 cents per share.

Net income has increased 32.3% year over year on average across the last five quarters. The biggest gain came in the second, when income climbed more than twofold from the year earlier quarter.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 13.2% to $2.03 billion from the year earlier quarter.

Looking Forward: Expectations for the company’s next quarter performance are more favorable than they were a month ago. The average estimate for the fourth quarter is now at 82 cents per share, up from 82 cents. For the fiscal year, the average estimate has moved up from $3.59 a share to $3.60 over the last thirty days.

Competitors to Watch: CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), NiSource Inc. (NYSE:NI), Dominion Resources, Inc. (NYSE:D), Black Hills Corporation (NYSE:BKH), Avista Corporation (NYSE:AVA), Ameren Corporation (NYSE:AEE), and CH Energy Group, Inc. (NYSE:CHG).

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(Source: Xignite Financials)