DTE Energy Company (DTE) Q1 2023 Earnings Call Transcript

DTE Energy Company (NYSE:DTE) Q1 2023 Earnings Conference Call April 27, 2023 8:00 AM ET

Company Participants

Barbara Tuckfield - Director, Investor Relations

Jerry Norcia - Chief Executive Officer & Chairman

Dave Ruud - Senior Vice President & Chief Financial Officer

Conference Call Participants

Durgesh Chopra - Evercore ISI

Jeremy Tonet - JPMorgan

David Arcaro - Morgan Stanley

Michael Sullivan - Wolfe Research

Andrew Weisel - Scotiabank

Alex Mortimer - Mizuho

Ross Fowler - UBS

Operator

Thank you for standing by and welcome to the DTE Energy First Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] And finally, I would like to advise all participants that this call is being recorded. Thank you.

I'd now like to welcome Barbara Tuckfield, Director of Investor Relations to begin the conference. Barbara, over to you.

Barbara Tuckfield

Thank you, and good morning, everyone. Before we get started, I would like to remind you to read the safe harbor statement on Page 2 of the presentation, including the reference to forward-looking statements.

Our presentation also includes references to operating earnings, which is a non-GAAP financial measure. Please refer to the reconciliation of GAAP earnings to operating earnings provided in the appendix. With us this morning are Jerry Norcia, Chairman, President and CEO and Dave Ruud, Senior Vice President and CFO.

And now, I'll turn it over to Jerry to start the call this morning.

Jerry Norcia

Thanks, Barbara, and good morning, everyone. And thanks for joining us. This morning I'll discuss the achievements we have made so far this year provide an update on our plans to achieve our 2023 targets and give an overview on the robust opportunities in our long-term plan. Dave will provide a financial update and wrap things up before we take your questions.

Let me start on Slide 4 to discuss the storms we experienced in the first quarter starting with the worst ice storm in nearly 50 years which was immediately followed by a major snowstorm. We understand the impact to customers during power outages and our team worked around the clock to get the power back on safely.

I want to express my appreciation to all of our DTE employees for their tireless efforts, along with our labor and community partners and the many others who supported our restoration efforts. It was all hands on deck at DTE for these two large storms.