{"id":26183,"date":"2023-04-27T12:26:23","date_gmt":"2023-04-27T12:26:23","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/dte-energy-beats-profit\/"},"modified":"2023-04-27T12:28:54","modified_gmt":"2023-04-27T12:28:54","slug":"dte-energy-beats-profit","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/dte-energy-beats-profit\/","title":{"rendered":"DTE Energy beats profit estimates on lower costs, non-utility gains"},"content":{"rendered":"<p>(Reuters) &#8211;     U.S. electric and gas utility firm DTE Energy Co beat estimates for first-quarter profit on Thursday, as lower costs and upbeat performance of a unit that develops energy projects partially offset a decline in demand for electricity and gas.<\/p>\n<p>Unfavourable weather including warmer-than-usual winter and storms in certain states were seen pressuring earnings of most U.S. utilities in the March quarter.<\/p>\n<p>DTE Energy Chief Executive Officer Jerry Norcia said the company experienced the &#8220;most challenging two-week storm period we have ever faced earlier in the year&#8221;.<\/p>\n<p>The company is working to strengthen its grid to deal with increasingly severe weather patterns and growing energy demands, Norcia said.<\/p>\n<p>Operating income of DTE Energy&#8217;s electric unit fell to $101 million in the first quarter from $201 million a year earlier, while the gas unit&#8217;s income declined 12.7% to $171 million.<\/p>\n<p>The drop was cushioned by the upbeat performance of DTE Vantage, a unit that manages energy projects, and reduction in operating and maintenance costs.<\/p>\n<p>The Detroit-based company&#8217;s operating income was $1.33 per share. Analysts on an average had expected a profit of $1.25 per share.<\/p>\n<p \/>\n<p> (Reporting by Mrinalika Roy in Bengaluru; Editing by Subhranshu Sahu)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/dte-energy-beats-profit\/the-trenton-channel-power-plant-a-coal-fired-electricity-plant-operated\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3Q0K2-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3Q0K2-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; U.S. electric and gas utility firm DTE Energy Co beat estimates for first-quarter profit on Thursday, as lower costs and upbeat performance of a unit that develops energy projects partially offset a decline in demand for electricity and gas. Unfavourable weather including warmer-than-usual winter and storms in certain states were seen pressuring earnings [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":26184,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-26183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3Q0K2-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/26183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=26183"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/26183\/revisions"}],"predecessor-version":[{"id":26185,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/26183\/revisions\/26185"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/26184"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=26183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=26183"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=26183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}