DTE Energy Co's stock surged 5.63% during intraday trading on Tuesday, driven by better-than-expected quarterly earnings and a landmark agreement to power Oracle's new data center in Michigan.
The utility company reported fourth-quarter 2025 adjusted earnings per share of $1.65, surpassing analysts' estimates of $1.52. The earnings beat was attributed to increased profitability in both its electric and gas segments, with operating earnings rising to $1.5 billion from $1.4 billion in the same period last year.
DTE also announced it secured its first hyperscale data center contract to provide 1.4 gigawatts of power for Oracle's facility in Saline Township, Michigan. The agreement, approved by state regulators, is expected to generate approximately $300 million in annual affordability benefits for existing customers by spreading fixed costs more broadly. The company further indicated it expects to reach an agreement with an additional data center customer in the coming weeks, highlighting growing demand from the technology sector.