DTE Energy Earnings: Exceeds Forecasts with Boost of Profit Rise

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.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

DTE Energy Company Earnings Cheat Sheet

Results: Net income for DTE Energy Company rose to $227 million ($1.31 per share) vs. $183 million ($1.07 per share) in the same quarter a year earlier. This marks a rise of 24% from the year-earlier quarter.

Revenue: Fell 2.6% to $2.21 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: DTE Energy Company beat the mean analyst estimate of $1.12 per share. It beat the average revenue estimate of $2 billion.

Quoting Management: “We are pleased with what we’ve accomplished so far this year,” said Gerard M. Anderson, DTE Energy chairman, president and CEO. “Financial results are solid, operational metrics are on target and I’m very happy to report that recent survey results show improved customer satisfaction.”

Key Stats:

Last quarter’s profit increase ends a three-quarter streak of profit decreases. In the second quarter, net income fell 27.7% from the year earlier, while the figure dropped 11.4% in the first quarter and 1.3% in the fourth quarter of the last fiscal year.

Revenue has fallen for the past three quarters. In the second quarter, revenue declined 0.1% to $2.02 billion while the figure fell 7.5% in the first quarter from the year earlier.

The company has beaten estiamtes for two quarters in a row. In the second quarter, it topped expectations with net income of 86 cents versus a mean estimate of net income of 69 cents per share.

Looking Forward: Expectations for the company’s next-quarter results are lower than they have been. Over the past sixty days, the average estimate for fourth quarter has fallen from $1.01 per share to 96 cents. Over the past three months, the average estimate for the fiscal year has climbed from $3.77 per to share to $3.84.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Is Your House Better Off Now Than Four Years Ago?

Shocker! SiriusXM CEO Mel Karmazin Calls it Quits

Tesla Motors: Is It Time to Buy Into the EV Revolution?