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DTE Energy quarterly profit rises on strength of gas and energy trading
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DTE Energy quarterly profit rises on strength of gas and energy trading
May 25, 2025 11:16 PM

May 1 (Reuters) - U.S. utility DTE Energy ( DTE )

reported a rise in first-quarter profit on Thursday, helped by

strength in its gas and energy trading segments.

Colder weather during the first three months of the year

helped boost demand for natural gas used to power heating

appliances. Detroit, Michigan-based DTE provides natural gas to

1.3 million customers in its home state.

The gas segment reported a profit of $206 million in the

first quarter, compared with $160 million during the

corresponding period a year ago.

At its energy trading segment, which consists of energy

marketing and trading operations, profit jumped to $67 million

during the three months ended March 31, from $1 million last

year, driven by a 13.4% rise in U.S. natural gas prices.

However, the rise in the segment's profit was partially

offset by weakness in the electric segment, when earnings fell

28% due to high costs and timing of taxes.

DTE Energy's ( DTE ) net income rose to $445 million, or $2.14 per

share, for the quarter ended March 31, from $313 million, or

$1.51 per share, a year earlier.

Its adjusted profit per share of $2.10 per share beat Wall

Street expectations of $2 per share, according to data compiled

by LSEG.

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