-48.2%
Net income — year over year
$247.0M vs $477.0M a year ago · quarter ended Mar 31, 2026 · from 10-Q XBRL filings.
SEC filings and exhibits only
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Aug 25, 2026 at 4:34 AM UTC
Earnings filing (8-K) · Latest 10-Q filings
Last updated: Aug 25, 2026 at 4:34 AM UTC
ACCOUNTING RISK · CLEAR
No auditor changes, restatements, late filings, or listing notices in the last 12 months.
from SEC filings · 2026-10-09
Thesis change
Unchanged
Legacy analysis
Detailed dimension scores were not computed for pre-v1 analyses. Full six-dimension scoring resumes with filings processed by the current pipeline.
- Legacy analysis: scored by the pre-v1 pipeline; deep evidence has not been re-verified.
Reported facts
GAAP facts are reported by the company. Comparable figures are EarnIQ arithmetic using only quantified adjustments disclosed in the linked SEC exhibit.
Reported EPS and revenue have not yet been extracted from the filing.
Earnings quality
From 10-Q / 10-K XBRL filings. Sloan (1996) accruals: high accruals relative to assets have historically preceded earnings disappointments. Descriptive research, not a prediction.
Weak — accruals are doing the heavy lifting
Reported profits have been driven more by accounting accruals than cash. Latest quarter: accruals equal -4.5% of assets — in the weakest quintile of large caps.
CY2024Q2Accruals / assets (TTM)CY2026Q1
Depreciation is disclosed annually by most filers, so quarterly values blend actuals with estimates — flagged on every reading. Method: TTM Sloan accruals ÷ average assets, scored 1–5 by quintile.
1. Three decisive changes
Largest quantified changes versus the company's own history.
-20.3%
Operating income — year over year
$412.0M vs $517.0M a year ago · quarter ended Mar 31, 2026 · from 10-Q XBRL filings.
2. Was it already expected?
Consensus classifications require timestamped pre-report snapshots and eight-quarter surprise history.
| Item | Actual | Expected | Gap | Class |
|---|---|---|---|---|
| Consensus comparison coming soon. | ||||
3. Management consistency
Only attributable, measurable and dated commitments are counted. Delivery record: Not available.
| Promise | Target | Outcome | Status | Evidence |
|---|---|---|---|---|
| No measurable, dated management promises have been verified for this record. | ||||
4. What matters next
One deciding measurable condition plus up to two supporting checkpoints.
No source-backed deciding threshold is available yet.
No guidance section was detected in the provided filing.
5. Risks that changed
New or materially worsened items only; unchanged boilerplate is omitted.
No new or materially worsened risk has been source-verified.
From 10-K filings · EDGAR
2
new risk disclosures added
2
old ones removed
FY2025 10-K vs prior year, boilerplate filtered out — these are idiosyncratic changes, and tone is about unchanged.
New risk disclosure #1
“Adverse statements, whether or not driven by political or public sentiment, may also result in investigations by regulators, legislators and law enforcement officials or in legal claims. 19 Table of Contents The Clean En…”
New risk disclosure #2
“Item 1A. Risk Factors There are various risks associated with the operations of the Registrants' utility businesses and DTE Energy's non-utility businesses. To provide a framework to understand the operating environment …”
6. Evidence drawer
Source location, short anchor and visible arithmetic for every verified claim.
DC1 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Net income · quarter ended 2026-03-31Net income: -48.2% year over year
(247,000,000 − 477,000,000) ÷ 477,000,000 = -48.2% YoYDC2 10-Q / 10-K XBRL filings (US-GAAP, via EDGAR)
Operating income · quarter ended 2026-03-31Operating income: -20.3% year over year
(412,000,000 − 517,000,000) ÷ 517,000,000 = -20.3% YoY