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1Q 2016 Earnings Conference Call – DTE Energy Co.

DTE Energy Co. · Apr 26, 2016 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 1
    1st Quarter 2016 Earnings Conference Call April 26, 2016
  2. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 2
    We continue to make progress on many fronts Financial performance Strong 1st quarter financial results Well positioned to achieve 2016 EPS* guidance Legislation Senate hearings and key stakeholder testimony this week Key…
  3. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 3
    2016 has started out strong and we are confident in achieving our guidance for the year 1st quarter 2016 operating EPS* of 1.52 On track to achieve 2016 operating EPS guidance range of 4.80 to 5.05 Targeting 10th consecutive…
  4. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 4
    Energy legislation continues to be a priority for the state and there is positive momentum 2008 law is working well and includes 10% retail open access cap Certificate of Need for large capital projects 12 month final order; 6 month…
  5. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 5
    NEXUS project is progressing and originates in the most economical geology in the country Project on track for 4th quarter 2017 in-service 1st quarter accomplishments Increased interconnect DTE agreements from 1.4 Bcf/d to Gas…
  6. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 6
    We remain confident in delivering 5%-6% operating EPS* growth target (dollars per share) Targeting 10th consecutive year meeting or exceeding initial guidance 4.93 4.82 Operating EPS 6.5% CAGR 2011 2015 3.75 Operating…
  7. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 7
    DTE Energy 1st Quarter 2016 Operating Earnings* Variance (millions, except EPS) Operating Earnings Drivers 1Q 2015 1Q 2016 Change DTE Electric DTE Electric 136 127 (9) Warmer weather and 2015 revenue decoupler amortization…
  8. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 8
    DTE Energy 1st Quarter 2016 Capital Expenditures (millions) Capital Expenditures Summary Drivers 1Q 2015 1Q 2016 DTE Electric DTE Electric capital lower due to Distribution Infrastructure 130 111 purchase of peaking plant in…
  9. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 9
    Focus remains on key areas to improve distribution reliability 6.5 billion investment over the next 10 years Replace aging infrastructure Address overloaded substations Enhance technology Customer benefits Reduce restoration…
  10. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 10
    Continued focus on expanded main renewal program and upgrading gas infrastructure 600 million investment from 2016-2020 Replace 4,000 miles of cast iron and unprotected steel main Cut timeline in half from 50 to 25 years…
  11. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 11
    A strong balance sheet remains a key priority to support growth Leverage* Target Target 200 to 300 million total equity 50%- 53% issuances over the next 3 years; continue to evaluate current year equity 51% 52% needs 1.6…
  12. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 12
    Summary Confident we will achieve our 2016 operating EPS* guidance... ...extending our streak to 10 consecutive years meeting or exceeding guidance Utilities continue to invest in infrastructure improvements... ...which will…
  13. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 13
    We are confident we will achieve our 2016 operating EPS* guidance (millions, except EPS) 1Q 2016 2016 Actuals Guidance DTE Electric 127 584 - 600 DTE Gas 87 135 - 141 Gas Storage & Pipelines 30 105 - 115 Power & Industrial…
  14. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 14
    DTE Electric Variance Analysis (millions) Operating Earnings* Variance Drivers Warmer weather in 2016 36 (19) Variance to normal weather 136 (18) (8) 127 - 1Q 2015: 10 - 1Q 2016: (8) July 1st 2015 rate implementation…
  15. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 15
    DTE Energy 1st Quarter 2016 Cash Flow (billions) Cash Flow Summary Drivers 1Q 2015 1Q 2016 Cash From Operations* 0.8 0.7 DTE Electric capital lower due to Capital Spending (0.7) (0.5) purchase of peaking plant in 2015 Free Cash…
  16. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 16
    DTE Energy 2016 Cash Flow and Capital Guidance (billions) (millions) Cash Flow Summary Capital Expenditures Summary 2015 2016 2015 2016 Actual Guidance Actual Guidance Cash From Operations* 1.9 1.8 DTE Electric Capital Spending…
  17. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 17
    DTE rate case highlights DTE Electric DTE Gas DTE Electric Rate Case 2014 Rate Case 2015 Rate Case 2016 Approved by MPSC on Filed December 18, 2015 Filed February 1, 2016 December 11, 2015 Rate recovery: 243 million Requested rate…
  18. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 18
    Interconnect agreements provide strong support on the NEXUS path up to 1.75 Bcf/d 25
  19. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 19
    Michigans economy continues to improve Unemployment Rate Lowest unemployment 8.5% since 2001 7.1% 5.4% 5.0% 4.9% Most new manufacturing jobs 2013 2014 2015 2016E 2017E since 2009* Gross State Product (billions) Ranked Top 10…
  20. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 20
    Weather and DTE Electric Weather Normal Sales Cooling degree days Heating degree days DTE Electric service territory DTE Gas service territory YTD 2015 YTD 2016 % change YTD 2015 YTD 2016 % change Actuals - - Actuals 3,791 2,917…
  21. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 21
    DTE Energy Trading Reconciliation of Operating Earnings* to Economic Net Income (millions) 2 18 16 Economic net income Operating Earnings equals economic gross (millions, after-tax) margin*** minus O&M expenses and taxes 1Q…
  22. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 22
    1st Quarter 2016 Reconciliation of Reported to First Quarter 2016 Operating Earnings Reconciliation of Reported to Operating Earnings Use of Operating Earnings Information DTE Energy management believes that operating earnings…
  23. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 23
    1st Quarter 2015 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…
  24. 1Q 2016 Earnings Conference Call – DTE Energy Co. – slide 24
    2011 2015 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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