By Sumit Saha
July 28 (Reuters) – U.S. Midwest utility DTE Energy beat Wall Street estimates for second-quarter profit on Tuesday, as stronger earnings from its energy trading business helped offset weaker results at its electric and gas operations.
DTE’s shares rose 2% in the morning trade.
The company also said it has invested more than $2.6 billion in its electric and gas utilities in the first half of 2026, with about $11 billion in distribution-system investment planned over the next five years to boost reliability and cut outages.
Here are some details:
• The U.S. utility sector is embarking on one of its biggest investment cycles in decades, driven by growing electricity consumption, grid reliability concerns and aging infrastructure.
• As per a report by PowerLines, utilities are expected to invest $1.4 trillion in grid infrastructure over the next five years.
• DTE posted adjusted profit of $1.32 per share, topping analysts’ estimate of $1.17, according to LSEG-compiled data.
• In its trading unit, quarterly operating profit rose 70.8%.
• However, DTE Energy’s electric segment, its largest by net income, reported profit of $270 million, down 15% from a year earlier, hurt by higher rate-base costs, unfavorable weather and the timing of tax-related items.
• Its gas segment swung to a $4 million loss from a year-ago profit of $6 million
• DTE expects a 5- to 6-gigawatt pipeline of additional data center opportunities, including about 2 gigawatts in advanced discussions, and is targeting another agreement by the end of 2026.
• “We also have another 3-4 gigawatts of pipeline opportunities that could develop over time,” said CEO Joi Harris.
(Reporting by Sumit Saha in Bengaluru; Editing by Vijay Kishore)
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