DTB FY 2023 Earnings Report — DTE Energy Company 2020 Series Revenue & Financial Results | Market Cap Arena

DTE Energy Company 2020 SeriesDTB

FY 2023 Earnings

Reported February 8, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$12.7B	—	$19.2B	—	-33.7%
Op. Income	$2.2B	—	$1.8B	—	21.3%
Gross Margin	34.0%	—	12.0%	—	22.0pp
Net Margin	11.0%	—	5.6%	—	5.3pp
EPS (Diluted)	$6.77	—	$5.51	—	22.9%
Free Cash Flow	-$689M	—	-$1.4B	—	50.3%

Revenue Flow

Item	Amount
REVENUE	$12.7B
Cost of Revenue	$8.4B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$9M
Other Expenses	$2.1B
Operating Expenses	$2.1B
Cost & Expenses	$10.5B
OPERATING INCOME	$2.2B
Interest Income	$74M
Interest Expense	$853M
Other Income/Expenses	-$677M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$169M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	-$3M
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$1.1B
EBIT	$2.3B
EBITDA	$3.4B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$12.7B
Cost of Revenue	$8.4B
GROSS PROFIT	$4.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$9M
Other Expenses	$2.1B
Operating Expenses	$2.1B
Cost & Expenses	$10.5B
OPERATING INCOME	$2.2B
Interest Income	$74M
Interest Expense	$853M
Other Income/Expenses	-$677M
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$169M
Net Income from Continuing Ops	$1.4B
Net Income from Discontinued Ops	$0
Other Adjustments	-$3M
NET INCOME	$1.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.4B
D&A	$1.1B
EBIT	$2.3B
EBITDA	$3.4B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$1.4B
Depreciation & Amortization	$1.7B
Stock-Based Compensation	$0
Deferred Income Tax	$181M
Other Non-Cash Items	$2M
Change in Working Capital	$3M
OPERATING CASH FLOW	$3.2B
Capital Expenditure	-$3.9B
Acquisitions (Net)	$5M
Purchases of Investments	-$705M
Sales/Maturities of Investments	$681M
Other Investing Activities	-$165M
NET CASH FROM INVESTING	-$4.1B
Net Debt Issuance	$1.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$752M
Other Financing Activities	-$39M
NET CASH FROM FINANCING	$881M
FREE CASH FLOW	-$689M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$51M
Short-Term Investments	$0
Net Receivables	$1.8B
Inventory	$1.1B
Other Current Assets	$647M
TOTAL CURRENT ASSETS	$3.5B
PP&E (Net)	$28.3B
Goodwill	$2.0B
Intangible Assets	$156M
Long-Term Investments	$2.9B
Tax Assets	$0
Other Non-Current Assets	$7.9B
TOTAL NON-CURRENT ASSETS	$41.2B
TOTAL ASSETS	$44.8B
Account Payables	$1.4B
Short-Term Debt	$3.4B
Deferred Revenue	$0
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$5.9B
Long-Term Debt	$17.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.6B
Other Non-Current Liabilities	$7.6B
TOTAL NON-CURRENT LIABILITIES	$27.8B
TOTAL LIABILITIES	$33.7B
Common Stock	$6.7B
Additional Paid-In Capital	$0
Retained Earnings	$4.4B
Treasury Stock	$0
Accum. Other Comp. Income	-$67M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.1B
Minority Interest	$5M
TOTAL EQUITY	$11.1B
TOTAL LIABILITIES & EQUITY	$44.8B
Total Debt	$21.0B
Net Debt	$20.9B