Business Context and Reporting Period
This Form 8-K is a current report filed by DTE Energy Company and The Detroit Edison Company on November 28, 2011. The filing serves as a Regulation FD disclosure regarding investor meetings scheduled for November 29-30, 2011, in New York, New York. The presentation materials from these meetings are included as Exhibit 99.1.
Key Financial Metrics
The filing does not provide specific historical financial data such as revenue, profit, cash flow, margins, debt, or liquidity for the reporting period. The document focuses exclusively on forward-looking earnings guidance.
Material Changes and Guidance
During the investor meetings, management reaffirmed and updated earnings guidance as follows:
- 2011 Operating Earnings Per Share: Reaffirmed guidance of $3.50 to $3.70 per share.
- 2012 Operating Earnings Per Share: Provided early outlook guidance of $3.60 to $3.90 per share.
Management noted that certain items impacting reported results will likely be excluded from operating results. Consequently, reconciliations between operating guidance and reported earnings guidance were not provided, as specific line items are difficult to forecast reliably and may fluctuate significantly.
Risks and Contingencies
The filing contains forward-looking statements subject to various assumptions, risks, and uncertainties. The company disclaims any intention to update these statements based on new information. Investors are directed to the "Forward-Looking Statements" sections in the 2010 Forms 10-K and 2011 Forms 10-Q for a discussion of factors that could cause actual results to differ materially.
Investor Verification Checklist
- Verify the full text of the slide presentation (Exhibit 99.1) available on the company website for detailed assumptions behind the guidance.
- Review the 2010 Form 10-K and 2011 Form 10-Q to understand the specific risks and factors excluded from operating earnings.
- Monitor future filings for reconciliations between operating earnings and reported earnings, as these were not provided in this report.