DTE Energy Company reported first-quarter operating earnings of $407 million on Thursday and said the result put it at the high end of its 2026 earnings guidance, as the utility pressed ahead with a pair of large data center deals that could reshape its growth plan.
Joi Harris, the company’s chief executive, said 2026 was off to a strong start and that the momentum gave DTE confidence in delivering an exceptional year for stakeholders. She said the 1.4-gigawatt Oracle data center included in the plan is approved and construction is underway, and added that DTE has executed an agreement with Google to serve a 1-gigawatt data center. That Google project has been submitted to the Michigan Public Service Commission IV for approval.
The company said the Oracle and Google projects could drive about $5 billion in incremental capital investment through 2032. DTE also reaffirmed its outlook for 6% to 8% annual operating earnings per share growth through 2030, while saying additional upside could come from large-load data center opportunities and renewable natural gas tax credits.
The quarter came against a backdrop of improving service performance, a point DTE has leaned on as it seeks to balance growth with affordability. The company said it restored 100% of impacted customers within 48 hours during a January weather event and restored service to over 99% of customers within 48 hours during a March storm. It also said outage duration has improved by 90% since 2023, with top-quartile national SAIDI performance and average annual bill growth trailing regional and national benchmarks.
That affordability message is central to DTE’s pitch as it seeks to add major new industrial loads without losing sight of household bills. The company said residential bills are 18% below the national average. The open question now is how quickly regulators move on the Google contract and how much of the projected capital spending turns into approved work over the rest of the decade.