DTE Gas Company has reported its financial results for the three and nine months ended September 30, 2025, showing changes in various metrics compared to the same periods in 2024.
In terms of operating revenues, the company reported a decrease to $207 million for the three months ended September 30, 2025, compared to $230 million in the same period in 2024. However, for the nine months ended September 30, 2025, operating revenues increased to $1.388 billion from $1.220 billion in the same period in 2024.
Operating expenses also fluctuated. The cost of gas decreased to $3 million in the third quarter of 2025 from $16 million in the third quarter of 2024. However, for the nine months ended September 30, 2025, the cost of gas was $372 million, up from $309 million in the same period in 2024.
Additionally, the company's operating income (loss) showed a significant change, with a loss of $23 million in the third quarter of 2025 compared to income of $8 million in the third quarter of 2024. For the nine months ended September 30, 2025, operating income increased to $309 million from $273 million in the same period in 2024.
Looking at the company's balance sheet, there were notable changes in various assets and liabilities. For instance, cash and cash equivalents stood at $2 million as of September 30, 2025, compared to no reported amount in the same period in 2024. Additionally, accounts receivable decreased to $159 million from $353 million, and gas inventories increased to $122 million from $71 million during the same period.
Moreover, the company's long-term debt, net of the current portion, increased to $3.043 billion as of September 30, 2025, from $2.783 billion in the same period in 2024.
In terms of income taxes, the effective income tax rate fluctuated, with a rate of 24.6% for the three months ended September 30, 2025, compared to 29.0% in the same period in 2024. For the nine months ended September 30, 2025, the effective income tax rate was 23.1%, down from 23.4% in the same period in 2024.
The company also received an allocation of costs from DTE Energy associated with stock-based compensation, which increased to $3 million for the three months ended September 30, 2025, from $2 million in the same period in 2024.
DTE Gas Company's financial statements indicate various fluctuations and changes in key metrics compared to the same periods in 2024, reflecting the company's financial performance and position. The market has reacted to these announcements by moving the company's shares -0.58% to a price of $138.06. If you want to know more, read the company's complete 8-K report here.
