DTE Gas Company has reported its unaudited consolidated financial statements for the three months ended March 31, 2025, and there are notable changes in key metrics compared to the same period in 2024.
In terms of operating revenues, the company saw a significant increase from $705 million in 2024 to $868 million in 2025. This represents a 23.12% growth in operating revenues.
Operating expenses also rose, with the cost of gas increasing from $257 million in 2024 to $326 million in 2025, and operation and maintenance expenses increasing from $134 million to $154 million during the same period.
The company's operating income climbed from $228 million in 2024 to $297 million in 2025, reflecting a 30.26% increase.
Net income for the first quarter of 2025 stood at $205 million, compared to $154 million in the same period in 2024, representing a 32.79% increase in net income.
In terms of the company's financial position, total assets increased from $8.394 billion at the end of December 31, 2024, to $8.679 billion at the end of March 31, 2025, marking a 3.39% rise.
The company's shareholder's equity also grew from $2.991 billion at the end of December 31, 2024, to $3.141 billion at the end of March 31, 2025, showing a 5.01% increase.
The company reported $405 million in net cash from operating activities for the first quarter of 2025, compared to $341 million for the same period in 2024, indicating a 18.77% increase.
However, the company's investing activities showed a decline, with net cash used for investing activities amounting to $327 million in 2025, compared to $351 million in 2024, representing a 6.83% decrease.
The market has reacted to these announcements by moving the company's shares 0.4% to a price of $136.36. Check out the company's full 8-K submission here.
