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How DTE Energy (DTE) makes money: Q2 2026 revenue breakdown
The quarter in brief
Revenue fell 1.5% y/y to $3.37B, operating margin 13.6% vs 12.5%, net income $282M (+23.1% y/y).
Key growth driver: Utility operations — the fastest-growing revenue line: $2,044, +3% y/y. · by the Q2 2026 report
Net income attributable to DTE Energy
$282M
up 23.1% y/y
Operating revenues
$3,369M
down 1.5% y/y
Operating income
$458M
up 7.3% y/y
Next report
not announced yet
How does DTE Energy make money?
DTE Energy brought in $3.37 billion of revenue in Q2 2026, down 1.5% year over year. The largest source was Utility operations: $2.04 billion, or 61% of the total, followed by Non-utility operations ($1.32B, 39%). Net income for the quarter was $282 million, up 23.1% year over year.
Revenue by source, Q2 2026
- Utility operations$2.04B · 61% · +3.3%
- Non-utility operations$1.32B · 39% · −8.0%
Shares of $3.37B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
All figures in $M.
| Line item | Amount and change |
|---|---|
| Utility operations | $2,044 · +3.3% |
| Non-utility operations | $1,325 · −8.0% |
| Operating revenues | $3,369 · −1.5% |
| Fuel, purchased power, gas and other — non-utility | $1,143 · −17.5% |
| Operation and maintenance | $651 · +9.2% |
| Depreciation and amortization | $498 · +10.4% |
| Fuel, purchased power, and gas — utility | $477 · +9.9% |
| Taxes other than income and asset impairments (calculated) | $142 · +12.7% |
| Operating income | $458 · +7.3% · 13.6% margin |
| Interest and other income, net of other expenses (calculated) | $84 · +42.4% |
| Interest expense | $301 · +17.6% |
| Income before income taxes | $241 · +4.8% |
| Income Tax Benefit | $41 |
| Net income attributable to DTE Energy | $282 · +23.1% · $1.35/sh · 8.4% margin |
Verdict: revenue fell 1.5% y/y to $3.37B, operating margin 13.6% vs 12.5%, net income $282M (+23.1% y/y).
Diluted EPS $1.35 vs $1.10 a year earlier; operating earnings (non-GAAP) $1.32 per share vs $1.36; more than $2.6 billion invested in the utilities in the first half of 2026.
Source and notation
Source: DTE Energy earnings release and its exhibits, 8-K EX-99 of 07/28/2026, and Form 10-Q filed 07/28/2026 (SEC EDGAR). Utility layout: operating revenues less fuel and purchased power, operations and maintenance, depreciation and taxes other than income taxes give operating income; interest and other income lead to pre-tax income. The income statement lines were taken from the release by hand; the program found every figure in the release or 10-Q text and checked the accounting identities and the chart balance; revenue and net income match the company's 10-Q.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Net income rose to $282 million from $229 million thanks to an income tax benefit of $41M (vs a $1M expense); pre-tax income grew only to $241M from $230M.
- By segment, DTE Electric earned $1.30 per share vs $1.53 a year earlier, while non-utility operations rose to $0.45 from $0.08 on Energy Trading and DTE Vantage.
- Interest expense rose to $301M from $256M; among the quarter's highlights, DTE announced a $1.6 billion battery storage investment.
- Operating income was $458M, a 13.6% margin vs 12.5% a year earlier.
- Diluted EPS was $1.35 vs $1.10 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Joi HarrisPresident and Chief Executive Officer [1]
- David RuudVice Chairman and Chief Financial Officer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-07-28 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-07-28 · SEC EDGAR · 10/20/2026
DTE Energy is an American diversified energy company involved in the development and management of energy-related businesses and services in the United States and Canada. · Text: Wikipedia, CC BY-SA 4.0, abridged
Its operating units include an electric utility serving 2.2 million customers and a natural gas utility serving 1.3 million customers in Michigan.
Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $3.53B, EPS (GAAP) $2.01
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
DTE earnings history: past report dates
| Jul 28, 2026 Tue | 6:48 ambefore market open | Jun 30, 2026 | $3.4B−1% y/y | $1.35+23% y/y |
| Apr 30, 2026 Thu | 6:49 ambefore market open | Mar 31, 2026 | $5.1B+16% y/y | $1.19−44% y/y |
| Feb 17, 2026 Tue | 6:58 ambefore market open | Dec 31, 2025 | ≈$4.4B+29% y/y | ≈$1.78+26% y/y |
| Oct 30, 2025 Thu | 6:48 ambefore market open | Sep 30, 2025 | $3.5B+21% y/y | $2.01−13% y/y |
| Jul 29, 2025 Tue | 6:46 ambefore market open | Jun 30, 2025 | $3.4B+19% y/y | $1.10−29% y/y |
| May 1, 2025 Thu | 6:46 ambefore market open | Mar 31, 2025 | $4.4B+37% y/y | $2.14+42% y/y |
| Feb 13, 2025 Thu | 6:49 ambefore market open | Dec 31, 2024 | ≈$3.4B+1% y/y | ≈$1.41−30% y/y |
| Oct 24, 2024 Thu | 6:50 ambefore market open | Sep 30, 2024 | $2.9B+1% y/y | $2.30+43% y/y |
| Jul 25, 2024 Thu | 6:50 ambefore market open | Jun 30, 2024 | $2.9B+7% y/y | $1.55+60% y/y |
| Apr 25, 2024 Thu | 7:05 ambefore market open | Mar 31, 2024 | $3.2B−14% y/y | $1.51−30% y/y |
| Feb 8, 2024 Thu | 7:08 ambefore market open | Dec 31, 2023 | ≈$3.4B−24% y/y | ≈$2.02+54% y/y |
| Nov 1, 2023 Wed | 6:43 ambefore market open | Sep 30, 2023 | $2.9B−45% y/y | $1.61−19% y/y |
| Jul 27, 2023 Thu | 6:41 ambefore market open | Jun 30, 2023 | $2.7B−45% y/y | $0.97+411% y/y |
| Apr 27, 2023 Thu | 6:48 ambefore market open | Mar 31, 2023 | $3.8B−17% y/y | $2.16+6% y/y |
| Feb 23, 2023 Thu | 6:42 ambefore market open | Dec 31, 2022 | ≈$4.5B−4% y/y | ≈$1.31−17% y/y |
| Oct 27, 2022 Thu | 6:42 ambefore market open | Sep 30, 2022 | $5.3B+41% y/y | $1.99 |
| Jul 28, 2022 Thu | 6:43 ambefore market open | Jun 30, 2022 | $4.9B+63% y/y | $0.19−79% y/y |
| Apr 28, 2022 Thu | 6:42 ambefore market open | Mar 31, 2022 | $4.6B+28% y/y | $2.03−1% y/y |
| Feb 10, 2022 Thu | 6:42 ambefore market open | Dec 31, 2021 | $4.6B+51% y/y | $1.57+11% y/y |
| Oct 27, 2021 Wed | 6:38 ambefore market open | Sep 30, 2021 | $3.7B+21% y/y | $0.13−95% y/y |
| Jul 27, 2021 Tue | 6:39 ambefore market open | Jun 30, 2021 | $3.0B+25% y/y | $0.92−36% y/y |
| Apr 27, 2021 Tue | 6:47 ambefore market open | Mar 31, 2021 | $3.6B+26% y/y | $2.05+16% y/y |
| Feb 19, 2021 Fri | 6:42 ambefore market open | Dec 31, 2020 | $3.1B−2% y/y | $1.42+1% y/y |
| Oct 27, 2020 Tue | 7:21 ambefore market open | Sep 30, 2020 | $3.1B−1% y/y | $2.46+42% y/y |
| Jul 28, 2020 Tue | 6:50 ambefore market open | Jun 30, 2020 | $2.4B−17% y/y | $1.44+45% y/y |
| Apr 28, 2020 Tue | 6:49 ambefore market open | Mar 31, 2020 | $2.9B−19% y/y | $1.76−20% y/y |
| Feb 5, 2020 Wed | 6:46 ambefore market open | Dec 31, 2019 | $3.1B−16% y/y | $1.40+33% y/y |
| Oct 28, 2019 Mon | 6:46 ambefore market open | Sep 30, 2019 | $3.1B−12% y/y | $1.73−6% y/y |
| Jul 24, 2019 Wed | 6:46 ambefore market open | Jun 30, 2019 | $2.9B−9% y/y | $0.99−23% y/y |
| Apr 24, 2019 Wed | 6:49 ambefore market open | Mar 31, 2019 | $3.5B−6% y/y | $2.19+9% y/y |
| Feb 7, 2019 Thu | 6:51 ambefore market open | Dec 31, 2018 | $3.8B+15% y/y | $1.05−34% y/y |
| Oct 24, 2018 Wed | 6:47 ambefore market open | Sep 30, 2018 | $3.5B+9% y/y | $1.84+22% y/y |
Show all 32 reports since 2018Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
DTE Energy: 15-year financials
| 2025 | 15,814 | 2,374 | 1,462 | 871 |
| 2024 | 12,457 | 2,091 | 1,404 | 810 |
| 2023 | 12,745 | 2,243 | 1,397 | 752 |
| 2022 | 19,228 | 1,748 | 1,083 | 685 |
| 2021 | 14,964 | 1,495 | 907 | 791 |
| 2020 | 11,423 | 1,555 | 1,368 | 760 |
| 2019 | 12,168 | 1,430 | 1,169 | 692 |
| 2018 | 14,212 | 1,594 | 1,120 | 620 |
| 2017 | 12,607 | 1,711 | 1,134 | 592 |
| 2016 | 10,630 | 1,486 | 868 | 531 |
| 2015 | 10,337 | 1,239 | 727 | 501 |
| 2014 | 12,301 | 1,590 | 905 | 470 |
| 2013 | 9,661 | 1,203 | 661 | 445 |
| 2012 | 8,791 | 1,279 | 610 | 407 |
| 2011 | 8,858 | 1,421 | 711 | 389 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Mar 31, 2026: $12.3B (22% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies that paid dividends 10 years without a gap
DTE Energy (DTE) earnings: FAQ
How does DTE Energy make money?
DTE Energy brought in $3.37 billion of revenue in Q2 2026, down 1.5% year over year. The largest source was Utility operations: $2.04 billion, or 61% of the total, followed by Non-utility operations ($1.32B, 39%). Net income for the quarter was $282 million, up 23.1% year over year.
When is DTE's next earnings date?
We have not yet seen an announcement of the date from DTE Energy (DTE). Based on last year's report on Oct 30, 2025, the next report is expected around Oct 29, 2026.
When did DTE last report earnings?
DTE Energy reported Q2 2026 results on Jul 28, 2026.
Where can I find DTE Energy's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to DTE's filings; this page breaks the latest report down in a Sankey chart.
What was DTE's net income in Q2 2026?
DTE Energy reported net income of $282M for Q2 2026 (+23.1% year over year), under US GAAP.
Does DTE Energy pay dividends?
Yes. In 2025, DTE Energy paid $871M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has DTE Energy's revenue changed since 2011?
Per its 10-K filings, revenue grew 1.8x: $8,858M in 2011 and $15,814M in 2025. The peak was $19,228M in 2022. Year-by-year figures are in the table above.
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