UPDATE 1-DTE Energy Q1 earnings beats, ups FY outlook

* Q1 EPS $1.38 vs est $1.20

* Q1 revenue up 9 pct, in-line with est

* Raises FY EPS outlook to $3.45-$3.80

April 27 (BestGrowthStock) – DTE Energy Co (DTE.N: ) posted higher
quarterly profit that came in ahead of analysts’ estimates,
helped by higher earnings at its utilities segment, and the
power company raised its full-year earnings view.
DTE Energy raised its 2010 operating earnings outlook to $3.45
to $3.80 per share from its prior view of $3.35 to $3.75 per
share. Analysts, on average, were expecting earnings of $3.51 a
share for 2010, according to Thomson Reuters I/B/E/S.

For the latest first quarter, net income was $229 million,
or $1.38 a share, compared with $178 million, or $1.09 a share,
last year.

The diversified energy company’s operating revenues for the
quarter rose 9 percent to $2.45 billion.

Analysts were looking for earnings of $1.20 a share,
excluding items, on revenue of $2.45 billion.

Shares of the Detroit-based company closed at $46.87
Tuesday on the New York Stock Exchange.

Investment Research

(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 1-DTE Energy Q1 earnings beats, ups FY outlook