Key facts
- Mondelez International reported net revenue of $9.36 billion for the second quarter.
- Analysts' average estimate for Mondelez's second-quarter revenue was $9.20 billion.
- DTE Energy exceeded second-quarter profit estimates with adjusted profit of $1.32 per share.
- DTE Energy's energy trading business drove profit, offsetting weaker electric and gas operations.
- DTE Energy invested over $2.6 billion in its utilities in the first half of the year.
- DTE Energy reaffirmed its full-year operating profit outlook.
Mondelez International surpassed Wall Street revenue expectations for the second quarter, buoyed by consistent demand for its confectionery and biscuit products. The company reported net revenue of $9.36 billion, exceeding the analysts' average estimate of $9.20 billion.
DTE Energy also beat profit estimates, with adjusted earnings of $1.32 per share, surpassing the $1.17 per share expected by analysts. This performance was largely driven by its energy trading unit, which generated $41 million in operating profit, a significant increase from $24 million in the prior year. This strength helped offset weaker results in DTE's core electric and gas operations.
The electric segment, DTE's largest, saw a 15% year-over-year profit decline to $270 million, impacted by higher rate-base costs, unfavorable weather, and timing of tax-related items. The gas segment incurred a $4 million loss, a reversal from a $6 million profit in the previous year, due to warmer weather and increased operating costs.
In the first half of the year, DTE Energy invested over $2.6 billion in its utility infrastructure to improve reliability and support cleaner energy initiatives. The company serves approximately 2.3 million electric customers and 1.4 million natural gas customers.
DTE Energy reaffirmed its full-year operating profit outlook, projecting earnings between $7.59 and $7.73 per share.