DTE Energy (DTE) Q1 FY26 earnings call

DTE frames Q1 as an on-plan start that de-risks the year toward the high end of its 6-8% operating EPS growth range, with RNG tax credits providing the flexibility. The thesis increasingly rests on large-load data center growth (Oracle live, Google signed, multi-GW pipeline behind it) that funds new generation while spreading fixed costs to lower existing-customer bills. Near-term segment noise (trading and tax timing) is characterized as reversing, and Google upside sits outside guidance pending regulatory approval.