2nd Quarter 2015 Earnings Conference Call July 24, 2015
Overview Second Quarter 2015 Earnings Results Cash Flow and Balance Sheet Metrics Summary 4
Our business strategy is fundamental to how we create value for our investors Utility growth plan driven by infrastructure 5% - 6% Annual investments EPS Growth Strategic and transparent growth opportunities in non-utility…
We continue to make progress on many fronts 2015 operating EPS guidance increase Dividend per share increase Michigan energy policy 2015 utility rate proceedings Self implementation of electric general rates Electric business cost of…
Economic indicators continue to improve in Michigan and the City of Detroit Lowest Michigan unemployment since 2001 7 most competitive state for job creation* Michigan has most new manufacturing jobs since 2009**…
Governor Snyder appoints new commissioner to Michigan Public Service Commission Norm Saari appointed to a six year term beginning August 2, 2015 Norm has had a distinguished career in the utility industry as well as in public…
Michigan leaders are working toward a constructive energy policy Retail Open Access (ROA) Options Current 10% cap with Fully 10% cap capacity requirements regulated Proposing... 10% ROA cap with capacity requirements…
We are raising our 2015 operating EPS* guidance to a midpoint of 4.72 per share (dollars per share) 2015 Operating EPS Guidance Midpoint Growth segments 4.66 Total DTE Energy 4.72 4.72 4.60 Operating EPS* 6.7% CAGR 4.66 2009…
We are increasing our 2015 operating earnings* guidance due to strong performance in the first half of the year (millions, except EPS) 2015 2015 2015 YTD 2Q Prior Revised Guidance Drivers Actuals Guidance Guidance DTE Electric 247…
Overview Second Quarter 2015 Earnings Results Cash Flow and Balance Sheet Metrics Summary 12
DTE Energy Second Quarter 2015 Operating Earnings Variance (millions, except EPS) Operating Earnings* Drivers 2Q 2014 2Q 2015 Change DTE Electric DTE Electric 129 111 (18) Rate base growth expense and unfavorable weather,…
Strength of our energy efficiency programs offsets economic sales growth Total Service Area Electric Sales* Population and economic growth 0.4% (1.1%) (0.7%) offset by temporary industrial net change plant idling resulted in…
Overview Second Quarter 2015 Earnings Results Cash Flow and Balance Sheet Metrics Summary 15
YTD 2015 Cash Flow and Capital Expenditures (billions) (millions) Cash Flow Summary Capital Expenditures Summary YTD YTD YTD YTD 2014 2015 2014 2015 Cash From Operations* 1.1 1.2 DTE Electric Operational 584 593 Capital…
Strong balance sheet remains a key priority and supports growth Leverage* 2015 financing plan is on track Target 50% - 53% Issued 200 million of equity YTD; targeting 800 to 900 million 2015 - 51% 53% 2017 49% 51% DTE Energy…
Overview Second Quarter 2015 Earnings Results Cash Flow and Balance Sheet Metrics Summary 18
Summary We are confident in this years performance and are increasing our 2015 operating EPS* guidance midpoint to 4.66 for our growth segments and 4.72 for DTE Energy We increased our annual dividend 16 cents to 2.92 per share, a…
Contact Us DTE Energy Investor Relations www.dteenergy.com/investors (313) 235-8030 20
Appendix
DTE Electric Variance Analysis (millions) Operating Earnings* Variance Drivers Colder weather in 2Q 2014 than 2Q 2015 129 (5) (15) Variance to normal weather 2 111 - 2Q 2014: 3 - 2Q 2015: (2) Rate base growth (property…
2015 Cash Flow and Capital Expenditures Guidance (billions) (millions) Cash Flow Summary Capital Expenditures Summary 2014 2015 2014 2015 Actual Guidance Actual Guidance Cash From Operations* 1.8 1.7 DTE Electric Operational…
DTE Energy Second Quarter Trading Reconciliation of Operating Earnings* to Economic Net Income (millions) Economic net income Operating Earnings* 16 19 equals economic gross (millions, after-tax) margin*** minus O&M expenses and…
DTE Energy Year-to-Date Trading Reconciliation of Operating Earnings* to Economic Net Income (millions) 24 39 Economic net income Operating Earnings* equals economic gross (millions, after-tax) 15 margin*** minus O&M expenses and…
Second Quarter 2015 and June Year to Date Reconciliation of Reported to Operating Earnings Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the…
2009 2014 Full Year Reconciliation of Reported to Operating Earnings Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…
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