Business Context and Reporting Period
This Form 8-K is a current report filed by DTE Energy Company and DTE Electric Company on December 12, 2018. The filing serves as a Regulation FD disclosure regarding an investor meeting scheduled for December 13, 2018, where management reaffirmed its financial guidance.
Key Financial Metrics
The filing does not provide specific historical revenue, profit, cash flow, margin, debt, or liquidity figures for the reporting period. It focuses exclusively on forward-looking operating earnings guidance per share.
Material Changes and Guidance
Management reaffirmed the following operating earnings guidance ranges during the investor meeting:
- 2018 Operating Earnings Guidance: $6.12 to $6.48 per share.
- 2019 Early Outlook Operating Earnings Guidance: $5.97 to $6.33 per share.
The company noted that certain items impacting reported results will likely be excluded from operating results. Reconciliations to reported earnings guidance were not provided due to the inability to reliably forecast specific line items such as future non-recurring items, mark-to-market adjustments, and discontinued operations.
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 2017 Form 10-K and 2018 Forms 10-Q for a discussion of factors that could cause actual results to differ materially.
Investor Verification Checklist
- Verify the specific non-recurring items and mark-to-market adjustments excluded from the operating earnings guidance.
- Review the referenced slide presentation (Exhibit 99.1) for detailed assumptions behind the 2018 and 2019 guidance.
- Consult the 2017 Form 10-K and 2018 Forms 10-Q for a comprehensive list of risks affecting the forward-looking statements.
- Confirm the impact of discontinued operations on the difference between operating and reported earnings.