DTE Gas Company has reported its unaudited consolidated financial statements for the three months ended March 31, 2025. The company's operating revenues increased to $868 million from $705 million in the same period in 2024. This represents a significant growth of $163 million or approximately 23% year-over-year.
The operating income for the company also saw a substantial increase, rising to $297 million from $228 million in the first quarter of 2024, indicating a growth of $69 million or approximately 30% year-over-year.
In addition, net income for the company rose to $205 million from $154 million in the first quarter of 2024, reflecting an increase of $51 million or approximately 33% year-over-year.
Looking at the company's consolidated statements of financial position, total assets increased to $8,679 million from $8,394 million as of December 31, 2024, signifying a growth of $285 million or approximately 3% since the end of the previous year.
The company's total shareholder's equity also saw a rise, increasing to $3,141 million from $2,991 million as of December 31, 2024, representing a growth of $150 million or approximately 5% since the end of the previous year.
Furthermore, the company's net cash from operating activities increased to $405 million from $341 million in the first quarter of 2024, showing an increase of $64 million or approximately 19% year-over-year.
The company's financial statements reveal significant improvements in various key metrics, demonstrating notable growth and positive performance in the first quarter of 2025 compared to the same period in 2024. 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. For more information, read the company's full 8-K submission here.
