Friday, April 27, 2012

Reuters: Regulatory News: UPDATE 1-Warm winter dents DTE Energy's profit

Reuters: Regulatory News
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UPDATE 1-Warm winter dents DTE Energy's profit
Apr 27th 2012, 11:35

April 27 | Fri Apr 27, 2012 7:35am EDT

April 27 (Reuters) - U.S. utility DTE Energy said its quarterly profit fell as the warm winter resulted in lower heating bills for their customers.

First-quarter operating earnings fell to $156 million, or 91 cents per share, from $188 million, or $1.11 per share, a year ago.

Operating revenue dipped 7 percent to $2.25 billion.

The company said unusually warm weather hurt earnings at its natural gas utility and energy trading business.

The Detroit-based company maintained its full-year operating earnings forecast of $3.65 per share to $3.95 per share, compared with $3.73 per share in 2011.

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