DTE Energy Company DTE is slated to report first-quarter 2024 results on Apr 25, before the opening bell.

In the last reported quarter, the company’s earnings came in line with the Zacks Consensus Estimate. However, DTE has a trailing four-quarter average negative earnings surprise of 1.54%.

Factors to Note

In the first quarter, DTE Energy’s service territories witnessed a mixed weather pattern. In particular, while the temperature remained moderate in the month of January, accompanied by occasional snowfall, an above-normal temperature prevailed in the last two months of the January-March quarter.

DTE Energy Company Price and EPS Surprise DTE Energy Company Price and EPS Surprise

DTE Energy Company price-eps-surprise | DTE Energy Company Quote

While a cold January must have boosted electricity demand from DTE’s customers for heating purposes, warmer winter months of February and March might have reduced the same. Such a mixed temperature pattern can be expected to have had a moderate impact on the company’s first-quarter top-line performance.

Moreover, DTE is likely to have witnessed higher industrial sales with more people having returned to work in recent times, which, in turn, might have aided its revenues. Also, the company’s grid-strengthening efforts can be projected to have favorably contributed to its quarterly top-line performance.

The Zacks Consensus Estimate for revenues is pegged at $3.89 billion, indicating an improvement of 2.9% year over year.

From the cost perspective, higher rate-based costs and expenses in relation to the storm that occurred in January 2024, are likely to have adversely impacted the company’s earnings in the to-be-reported quarter. Nevertheless, higher earnings from its renewable plants, along with DTE’s cost reduction efforts, are expected to have boosted its overall bottom-line performance.

The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.71 per share, implying an improvement of 28.6% from the prior-year period’s reported number.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for DTE Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.

Earnings ESP: The company’s Earnings ESP is -1.17%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: DTE currently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are three Utility players that you may want to consider as these have the right combination of elements to come up with an earnings beat this reporting cycle.

Entergy ETR has an Earnings ESP of +5.71% and a Zacks Rank #3 at present. The company holds a long-term earnings growth rate of 7%.



The Zacks Consensus Estimate for ETR’s first-quarter earnings is pegged at $1.40, indicating an improvement of 22.8% year over year. The consensus estimate for sales is pegged at $3.18 billion, implying 6.5% growth from the prior-year quarter’s reported actuals.

Exelon EXC has an Earnings ESP of +1.41% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for EXC’s first-quarter earnings is pegged at 71 cents per share, implying a 1.4% increase from the bottom line reported in the prior-year quarter.

The consensus mark for EXC’s sales is pinned at $5.73 billion, implying an improvement of 3% year over year. The company has a trailing four-quarter average earnings surprise of 2.64%.

PPL Corp. PPL has an Earnings ESP of +0.98% and a Zacks Rank #3 at present. The consensus estimate for first-quarter earnings is pinned at 51 cents per share, indicating a 6.3% increase year over year.

PPL delivered a four-quarter average earnings surprise of 0.13%. The consensus mark for first-quarter sales is pegged at $2.48 billion, indicating growth of 2.6% from that recorded in the prior-year quarter.

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