DTE Gas Company has reported its unaudited consolidated financial statements for the three months ended March 31, 2025. Let's take a closer look at the key figures from the report.
In terms of operating revenues, the company saw a significant increase from $705 million in the first quarter of 2024 to $868 million in the first quarter of 2025. This represents a noticeable growth in the top line.
Moving on to the operating expenses, the cost of gas also rose from $257 million in 2024 to $326 million in 2025, while operation and maintenance expenses increased from $134 million to $154 million during the same period.
Depreciation and amortization expenses remained constant at $54 million in both 2024 and 2025. However, taxes other than income went up from $32 million in 2024 to $37 million in 2025.
As a result, the operating income for the first quarter of 2025 stood at $297 million, compared to $228 million for the same period in 2024, indicating a substantial improvement in the company's operational performance.
Moving on to the balance sheet, the total assets of DTE Gas Company increased from $8.394 billion as of December 31, 2024, to $8.679 billion as of March 31, 2025.
The company's net income also saw a notable increase, rising from $154 million in the first quarter of 2024 to $205 million in the first quarter of 2025.
In terms of shareholder's equity, the total equity grew from $2.991 billion in 2024 to $3.141 billion in 2025.
These figures indicate a positive financial performance for DTE Gas Company, with increases in both revenues and net income, as well as an expansion in total assets and shareholder's equity compared to the same period in the previous year. As a result of these announcements, the company's shares have moved 0.4% on the market, and are now trading at a price of $136.36. If you want to know more, read the company's complete 8-K report here.
