DTE Energy Company (DTE) investor relations material

Executive summary

• 2026 began with strong operational and financial momentum, with major data center agreements and grid investments advancing growth and customer affordability.

• Delivered strong results with continued progress on reliability, affordability, and growth initiatives, including Oracle and Google data center projects.

• Net income attributable to the parent was $247 million for Q1 2026, down from $445 million in Q1 2025, primarily due to lower earnings in Energy Trading and DTE Vantage, partially offset by higher Electric segment earnings.

• Invested over $1.2 billion in utilities in Q1 2026, on track for $6 billion in annual investments.

• Reliability improvements and rapid storm response placed the utility in the top quartile nationally, with outage duration reduced by 90% from 2023-2025.

Financial highlights

• Q1 2026 operating earnings were $407 million ($1.95 per share), down from $436 million ($2.10 per share) in Q1 2025.

• Q1 2026 net income was $247 million ($1.19 per diluted share), a 44% decrease year-over-year.

• DTE Electric earnings rose $71 million year-over-year to $218 million, driven by tax timing, rate implementation, and colder weather.

• DTE Gas operating earnings were $210 million, up $4 million year-over-year.

• DTE Vantage earnings increased $9 million to $48 million, while energy trading earnings were $59 million lower due to timing, expected to reverse later in the year.

Outlook and guidance

• Reaffirmed 2026 operating EPS guidance of $7.59–$7.73, with the midpoint reflecting 7% growth over 2025 and confidence in achieving the high end due to RNG tax credits and data center contracts.

• Long-term operating EPS growth target of 6%-8% through 2030, with additional upside from further data center opportunities.

• Utility operating earnings are expected to comprise 93% of total earnings by 2030.