DTE Energy’s revenues in 2Q16
Detroit-based DTE Energy Holding (DTE) reported its second quarter earnings on July 26, 2016. It reported revenues of $2.2 billion, nearly the same as 2Q15 revenues.
DTE Energy’s utility operations reported $1.44 billion in 2Q16 revenues compared to $1.36 billion in 2Q15. Its Electric segment witnessed warmer weather mainly in the second half of 2Q16, which was partially offset by decoupler amortization.
DTE’s non-utility segment continued its strong performance in the second quarter, which also helped boost overall earnings.
DTE is expanding beyond traditional electric utility
For the last few quarters, DTE Energy’s business mix has been changing to a diversified utility. Its consolidated revenue is a combination of its Electric and Gas Distribution, Energy Trading, and Midstream businesses. This transition bodes well for growth when its core segment, Electric, is offering trivial growth opportunities.
DTE’s non-utility segment was a significant contributor to the solid first half of 2016. Its Pipeline segment is the second largest in terms of earnings contribution after Electric. It offers better growth prospects than all the other segments.
Gerry Anderson, DTE Energy’s chair and chief executive officer, said, “The company’s second quarter performance builds on the success of the first quarter, resulting in a strong first half of 2016.”