DTE Gas (DTE Energy) Q1 2026: revenue up 6.3%, net income up 2.0%
DTE Gas, the Michigan utility owned by DTE Energy, grew revenue 6.3% to $923 million while net income rose just 2.0% to $209 million — steady, unexciting, and valued like a regulated bond substitute. Read the quarter as a rate case story: costs and capital spending are climbing faster than profit, and management has asked Michigan regulators for $163 million more in base rates. View: Neutral.
1 · Expected vs. Actual
Free preview belowReported EPS was $1.19 against a consensus estimate of $2.0284, and neither number reconciles cleanly with this filing. DTE Gas has 10.3 million shares outstanding, so $209 million of net income works out to roughly $20 per share, while the $2.03 consensus is a DTE Energy-level number, not a DTE Gas one. Treat the EPS line as unreliable and watch net income dollars instead.
Revenue rose 6.3% to $923 million from $868 million a year earlier. Almost none of it came from core Gas sales, which at $684 million were flat, so the gain came from the "Other" line ($109 million versus $63 million), which the filing ties to regulatory mechanisms including gas cost recovery. That is pass-through money rather than profit.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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