Dte Energy Company · NYSE:DTE
Dte Energy — Q1 2025 Earnings Presentation
21 slides from Dte Energy's earnings presentation, May 1, 2025
Slide 1: 1Q 2025 Earnings Conference Call
1Q 2025 Earnings Conference Call May 1, 2025
Slide 2: Safe harbor statement
Safe harbor statement The information contained herein is as of the date of this document. DTE Energy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information or future events or developments. Words such as “anticipa
Slide 3: Participants
Participants Jerry Norcia – Chairman and CEO Joi Harris – President and COO Dave Ruud – Executive Vice President and CFO Matt Krupinski – Director of Investor Relations 3
Slide 4: Highly engaged team committed to delivering best-in-class results for our stakeholders
Highly engaged team committed to delivering best-in-class results for our stakeholders Continuing best-in-class engagement, health and safety of our employees ✓ Received Gallup Great Workplace Award for 13th consecutive year Addressing our customers’ most vital needs ✓ Progressing on our goal of red
Slide 5: Achieving success across all businesses
Achieving success across all businesses DTE Electric • Achieving reliability improvements as we transition to fully automated grid, update existing infrastructure, rebuild significant parts of the grid and continue enhanced tree-trimming • Nearly 60% improvement in customers time spent without power
Slide 6: Economic development fuels Michigan’s growth
Economic development fuels Michigan’s growth • Significant investment in Michigan, supporting thousands of jobs — General Motors investment to convert an assembly plant to produce full-size electric pickup trucks — Henry Ford Health, Detroit Pistons and Michigan State University investment in Detroi
Slide 7: Executing on our customer-focused investment plan in reliability and cleaner generation at DTE Electric
Executing on our customer-focused investment plan in reliability and cleaner generation at DTE Electric DTE Electric investment (billions) • Increasing efforts to improve reliability in 2025 following significant progress in 2024 $24 20% — Enhancing grid automation by installing 600 smart grid devic
Slide 8: Renewable investments support voluntary program and legislated clean energy plan
Renewable investments support voluntary program and legislated clean energy plan with potential upside from data centers • Robust renewable energy development supported by strong land positions and positive community relationships — 2,300 MW of renewable generation in service; 10 new solar projects
Slide 9: 1Q 2025 operating earnings variance
1Q 2025 operating earnings1 variance (millions, except EPS) 2024 2025 Variance Primary drivers Timing of taxes ($67M) that will reverse later this year and DTE Electric $194 $147 ($47) higher rate base costs, partially offset by rate implementation and favorable weather Colder weather and rate imple
Slide 10: Investment focused on improved reliability and cleaner generation; well-positioned for long-term growth
Investment focused on improved reliability and cleaner generation; well-positioned for long-term growth ✓ Highly engaged team committed to delivering best-in-class results for our customers, communities and investors ✓ 2025 operating EPS1 guidance midpoint provides 7% growth from 2024 original guida
Slide 11: Appendix
Appendix 11
Slide 12: Increased customer-focused utility investment provides higher quality 6%-8% long-term operating EPS growth
Increased customer-focused utility investment, combined with a shift to more utility-like investments at DTE Vantage, provides higher quality 6% - 8% long-term operating EPS1 growth • Increased generation and reliability investment over the next 5 years drives 5-year investment plan (billions) $5 bi
Slide 13: 2025 operating EPS guidance midpoint provides 7% growth over 2024 original guidance midpoint
2025 operating EPS1 guidance midpoint provides 7% growth over 2024 original guidance midpoint; positioned to achieve high end (millions, except EPS) 2025 operating earnings DTE Electric $1,205 - $1,225 • Utility growth driven by customer-focused investment supporting building the grid of the future
Slide 14: Maintaining strong cash flows, balance sheet and credit profile
Maintaining strong cash flows, balance sheet and credit profile Strong balance sheet supports robust customer-focused investment agenda • Customer-focused capital investment plan is supported by consistent, healthy cash flows • Targeting minimal equity issuances of $0 - $100 million annually through
Slide 15: Building on the momentum of the last decade, committed to Michigan investments and supplier diversity
Building on the momentum of the last decade, committed to Michigan investments and supplier diversity 2024 Michigan spend (millions) $3.3b invested with Michigan businesses in 2024 $955m invested with Detroit suppliers in 2024 $31 invested with certified suppliers owned by women, minorities, $1.0b v
Slide 16: Top tier affordability for our customers over the last 3 years
Top tier affordability for our customers over the last 3 years State comparison – electric residential bill change % from 2021 to 20241 1st quartile 2nd quartile 3rd quartile 4th quartile U.S. average 17.9% Great Lakes average 11.9% 2.4% DTE 1. Source: Energy Information Administration (EIA). DTE El
Slide 17: Weather impact on sales
Weather impact on sales DTE Electric DTE Gas Cooling degree days1 Heating degree days3 % % 1Q 2024 1Q 2025 1Q 2024 1Q 2025 Change Change Actuals - - 0% Actuals 2,743 3,213 17% Normal - - 0% Normal 3,236 3,153 (3%) Deviation Deviation 0% 0% (15%) 2% from normal from normal Operating earnings2 impact
Slide 18: Cash flow and capital expenditures guidance
Cash flow and capital expenditures guidance Cash flow Capital expenditures (billions) (millions) 2025 2025 guidance guidance Cash from operations1 $3.3 DTE Electric Capital expenditures (4.9) Base infrastructure $765 Free cash flow ($1.6) Cleaner generation 1,450 Dividends (0.9) Distribution infrast
Slide 19: Cash flow and capital expenditures
Cash flow and capital expenditures Cash flow Capital expenditures (billions) (millions) 1Q 2024 1Q 2025 1Q 2024 1Q 2025 DTE Electric Cash from operations1 $1.0 $1.0 Base infrastructure $249 $221 Capital expenditures (1.4) (0.9) Cleaner generation 256 142 Free cash flow ($0.4) $0.1 Distribution infra
Slide 20: 1Q 2025 and 1Q 2024 reconciliation of reported to operating earnings
1Q 2025 and 1Q 2024 reconciliation of reported to operating earnings (non- GAAP) and operating EPS (non-GAAP) (Earnings per share2) Adjustments key A) MPSC disallowance of power supply costs previously recorded — recorded in Operating Revenues — Utility operations and Other (Income) and Deductions B
Slide 21: Reconciliation of reported to operating earnings (non-GAAP)
Reconciliation of reported to operating earnings (non-GAAP) Use of Operating Earnings Information – Operating earnings exclude non-recurring items, certain mark-to-market adjustments and discontinued operations. DTE Energy management believes that operating earnings provide a meaningful representati