DTE Energy (DTE) Q3 FY2026 earnings: revenue $3.7 billion, up 5.7% on the year

DTE Energy Co. (DTE) reported revenue of $3.7 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.7% on the same quarter a year earlier. Net income was $470 million, up 12.2% on the year, and diluted earnings per share $2.25. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$3.7 billion

+5.7% on the year · +10.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

16.2%

17.6% a year earlier

Q4 FY2024Q3 FY2026

Net income

$470 million

+12.2% on the year · +66.7% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$2.25

+11.9% on the year · +66.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new, 2 kept.

Reported earnings rose year over year: Third quarter reported earnings were $470 million, or $2.25 per diluted share, against $419 million, or $2.01, a year earlier. Operating earnings were $481 million, or $2.30 per share.
Electric segment earnings declined: DTE Electric reported $468 million, or $2.24 per diluted share, against $506 million, or $2.44. Its operating earnings were $468 million, against $541 million a year earlier.
Vantage reported higher earnings: DTE Vantage reported $110 million, or $0.53 per diluted share, against $33 million, or $0.16, in 2025. Reported and operating earnings were equal in the quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	3,727	3,369	3,527	+10.6%	+5.7%
Operating income	603	458	619	+31.7%	-2.6%
Operating margin	16.2%	13.6%	17.6%
Interest expense	317	301	271	+5.3%	+17.0%
Pre-tax income	363	241	413	+50.6%	-12.1%
Income tax	-107	-41.0	-6.0
Effective tax rate	-29.5%	-17.0%	-1.5%
Net income	470	282	419	+66.7%	+12.2%
Net margin	12.6%	8.4%	11.9%
Diluted EPS	$2.25	$1.35	$2.01	+66.7%	+11.9%

$ 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

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	768	773	632	-0.6%	+21.5%
Cash from investing	-1,472	-1,600	-1,661
Cash from financing	697	633	1,024	+10.1%	-31.9%
Depreciation and amortisation	506	498	464	+1.6%	+9.1%
Dividends paid	234	234	218	0.0%	+7.3%
Dividend per share	n/a	$2.33	n/a
Diluted shares, weighted	208m	208m	207m	0.0%	+0.5%
Shares outstanding at period end	208m	208m	208m	+0.0%	+0.2%

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

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	12,666	12,149	12,158	+4.3%	+4.2%
Non-controlling interest	5.0	5.0	5.0	0.0%	0.0%
Debt	28,529	27,584	25,038	+3.4%	+13.9%
Operating lease liabilities	217	222	232	-2.3%	-6.5%
Finance lease liabilities	10.0	11.0	15.0	-9.1%	-33.3%
Other liabilities	16,167	16,263	14,580	-0.6%	+10.9%
Total liabilities and equity	57,594	56,234	52,028	+2.4%	+10.7%
Fixed assets	36,333	35,496	32,653	+2.4%	+11.3%
Goodwill	1,993	1,993	1,993	0.0%	0.0%
Intangible assets	172	177	190	-2.8%	-9.5%
Investments	3,022	3,074	2,802	-1.7%	+7.9%
Cash and equivalents	33.0	42.0	34.0	-21.4%	-2.9%
Receivables	1,641	1,683	1,397	-2.5%	+17.5%
Other assets	14,400	13,769	12,959	+4.6%	+11.1%
Total assets	57,594	56,234	52,028	+2.4%	+10.7%

Questions

What was DTE Energy's revenue in Q3 FY2026?

DTE Energy (DTE) reported revenue of $3.7 billion for Q3 FY2026, the quarter ended 30 September 2026, up 5.7% on the same quarter a year earlier.

How much did DTE Energy earn in Q3 FY2026?

Net income for Q3 FY2026 was $470 million, up 12.2% on the year, and diluted earnings per share $2.25.

When did DTE Energy report Q3 FY2026 results?

DTE Energy filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	4,647	4,577	4,924	5,251	4,476	3,779	2,684	2,888	3,394	3,240	2,875	2,906	3,436	4,440	3,419	3,527	4,428	5,141	3,369	3,727
Operating income	415	558	183	545	462	652	397	538	656	517	502	517	555	624	427	619	704	412	458	603
Operating margin	9%	12%	4%	10%	10%	17%	15%	19%	19%	16%	17%	18%	16%	14%	12%	18%	16%	8%	14%	16%
Interest expense	153	154	161	171	189	191	192	200	208	218	233	252	248	250	256	271	279	293	301	317
Pre-tax income	294	410	15.0	393	294	495	235	354	482	334	358	356	322	427	230	413	480	189	241	363
Tax rate	-2%	4%	-147%	2%	10%	10%	14%	6%	13%	6%	10%	-34%	9%	-4%	0%	-1%	23%	-31%	-17%	-29%
Net income	306	394	37.0	387	265	445	201	332	419	313	322	477	292	445	229	419	369	247	282	470
Net margin	7%	9%	1%	7%	6%	12%	7%	11%	12%	10%	11%	16%	8%	10%	7%	12%	8%	5%	8%	13%
Diluted EPS	$1.57	$2.03	$0.19	$1.99	$1.31	$2.16	$0.97	$1.61	$2.02	$1.51	$1.55	$2.30	$1.41	$2.14	$1.10	$2.01	$1.78	$1.19	$1.35	$2.25
Operating cash flow	695	808	328	276	565	924	835	616	845	1,042	759	758	1,084	1,020	709	632	1,048	906	773	768
Buybacks	0.0	55.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	160	171	171	172	171	188	188	188	188	202	202	203	203	217	218	218	218	233	234	234
Shares outstanding	194m	194m	194m	194m	206m	206m	206m	206m	206m	207m	207m	207m	207m	208m	208m	208m	208m	208m	208m	208m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.