DTE Energy Co. Q1 FY2016 results: revenue $2.6 billion, down 14.0% on the year

DTE Energy Co. (DTE) reported revenue of $2.6 billion for Q1 FY2016, the quarter ended 31 March 2016, down 14.0% on the same quarter a year earlier. Net income was $247 million, down 9.5% on the year, and diluted earnings per share $1.37. The figures are the company's own, from the 10-Q it filed with the SEC on 26 April 2016.

Revenue$2.6 billiondown 14.0%

Net income$247 milliondown 9.5%

Diluted EPS$1.37

QuarterQ1 FY2016ended 31 March 2016

The quarter, against the one before and a year earlier

Line	Q1 FY2016	Q4 FY2015	A year earlier	Change on the year
Revenue	2,566	2,487	n/a	n/a
Operating income	381	134	n/a	n/a
Operating margin	14.8%	5.4%	n/a
Interest expense	113	109	n/a	n/a
Pre-tax income	323	57.0	n/a	n/a
Income tax	83.0	-20.0	n/a	n/a
Effective tax rate	25.7%	-35.1%	n/a
Net income	247	80.0	n/a	n/a
Net margin	9.6%	3.2%	n/a
Diluted EPS	$1.37	$0.45	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2016	Q4 FY2015	A year earlier	Change on the year
Operating cash flow	741	443	n/a	n/a
Depreciation and amortisation	229	227	n/a	n/a
Buybacks	33.0	0.0	n/a	n/a
Dividends paid	131	131	n/a	n/a
Dividend per share	$0.73	n/a	n/a	n/a
Diluted shares, weighted	180m	n/a	n/a	n/a
Shares outstanding at period end	179m	179m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2016	Q4 FY2015	A year earlier	Change on the year
Total assets	28,564	28,737	n/a	n/a
Cash and equivalents	35.0	37.0	n/a	n/a
Receivables	1,185	1,276	n/a	n/a
Goodwill	2,018	2,018	n/a	n/a
Long-term debt	8,266	9,300	n/a	n/a
Long-term debt including finance leases	8,758	8,835	n/a	n/a
Shareholders' equity	8,887	8,772	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2015	Q3 FY2015	Q4 FY2015	Q1 FY2016	Q2 FY2016	Q3 FY2016	Q4 FY2016	Q1 FY2017	Q2 FY2017	Q3 FY2017	Q4 FY2017	Q1 FY2018
Revenue	2,268	2,598	2,487	2,566	2,262	2,928	2,874	3,236	2,855	3,245	3,271	3,753
Operating income	204	440	134	381	256	507	301	569	303	418	356	504
Operating margin	9%	17%	5%	15%	11%	17%	10%	18%	11%	13%	11%	13%
Interest expense	115	116	109	113	114	114	131	125	133	146	132	135
Pre-tax income	131	366	57.0	323	195	435	152	504	232	337	214	419
Tax rate	20%	28%	-35%	26%	26%	25%	18%	22%	25%	22%	-31%	16%
Net income	109	265	80.0	247	152	338	131	400	177	270	287	361
Net margin	5%	10%	3%	10%	7%	12%	5%	12%	6%	8%	9%	10%
Diluted EPS	$0.61	$1.47	$0.45	$1.37	$0.84	$1.88	$0.73	$2.23	$0.99	$1.51	$1.60	$2.00
Operating cash flow	433	288	443	741	531	495	317	787	396	367	567	838
Buybacks	0.0	0.0	0.0	33.0	0.0	0.0	0.0	51.0	0.0	0.0	0.0	0.0
Dividends paid	124	124	131	131	131	131	138	148	148	148	148	158
Shares outstanding	179m	179m	179m	179m	179m	179m	179m	179m	179m	179m	179m	181m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2016, filed 26 April 2016, accession 0000936340-16-000312: the filing on EDGAR. All of DTE Energy Co.'s filings: EDGAR company page.

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