We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Ameren Corporation’s (AEE - Free Report) fourth-quarter 2022 earnings of 63 cents per share surpassed the Zacks Consensus Estimate of 56 cents per share by 12.5%. The reported figure increased 31.3% year over year.
The year-over-year bottom line was driven by increased infrastructure investments made across all business segments. Further, the upside was backed by higher weather-driven electric retail sales at Ameren Missouri, coupled with higher energy efficiency performance incentives in 2022.
For the full-year 2022, AEE reported earnings of $4.14 per share compared with $3.84 in the previous year’s quarter.
Total Revenues
Total revenues came in at $2,046 million in the reported quarter, which improved 32.4% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,598 million by 28%.
For the full-year 2022, total revenues came in at $7,957 million. Total revenues increased 24.4% year over year.
Ameren Corporation Price, Consensus and EPS Surprise
Ameren’s total electricity sales volumes declined 4.9% to 17,277 million kilowatt-hours (kWh) in the fourth quarter compared with the 18,180 million kWh witnessed in the year-ago quarter. Gas volumes increased to 60 million dekatherms from 54 million dekatherms in the prior-year period.
Total operating expenses were $1,770 million, up 31.3% year over year. The company’s interest expenses in the fourth quarter were $130 million compared with the prior-year quarter’s $93 million.
Segment Results
The Ameren Missouri segment reported earnings of $562 million in 2022 compared with the $518 million recorded in the year-ago period. The increase was attributable to increased earnings on infrastructure investments, higher weather-driven electric retail sales and new electric service rates effective Feb 28, 2022.
The Ameren Illinois Electric Distribution segment reported earnings of $202 million in 2022 compared with the $165 million registered in the year-ago period. The year-over-year improvement highlighted increased earnings on infrastructure investments and a higher allowed return on equity due to a higher average 30-year U.S. Treasury bond yield in 2022 compared to 2021.
The Ameren Illinois Natural Gas segment generated earnings of $123 million in 2022 compared with $108 million in the year-ago period. The year-over-year improvement reflected earnings on increased infrastructure investments and higher delivery service rates effective late January 2021.
The Ameren Transmission segment reported earnings of $263 million in 2022 compared with $230 million in the prior year. The year-over-year improvement reflected increased earnings on infrastructure investments and the absence of the 2021 FERC order addressing the historical recovery of materials and supplies inventories.
Financial Condition
Ameren reported cash and cash equivalents of $10 million as of Dec 31, 2022 compared with the $8 million registered at the 2021-end.
As of Dec 30, 2022, the long-term debt totaled $13,685 million compared with $12,562 million as of Dec 31, 2021.
In 2022, the cash flow from operating activities amounted to $2,263 million compared with the $1,661 million generated in the prior-year period.
Guidance
Ameren initiated its 2023 guidance. AEE expects to generate earnings per share (EPS) in the range of $4.25-$4.45.
Currently, the Zacks Consensus Estimate for 2023 earnings is pegged at $4.35 per share. The figure is in line with the midpoint of the guidance range.
Hawaiian Electric Industries, Inc. (HE - Free Report) reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents per share in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
Duke Energy Corporation (DUK - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.11 per share, which surpassed the Zacks Consensus Estimate of $1.06 by 4.7%. The bottom line also improved 26.1% year over year.
Total operating revenues came in at $7,351 million, which improved 20.2% from $6,117 million in the year-ago period. The reported top line also surpassed the Zacks Consensus Estimate of $6,608 million by 11.2%.
CMS Energy Corporation (CMS - Free Report) reported a fourth-quarter 2022 adjusted EPS of 60 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure improved 27.7% on a year-over-year basis.
For the quarter under review, CMS Energy’s operating revenues were $2,278 million, which exceeded the Zacks Consensus Estimate of $2,185.3 million by 4.2%. The top line improved 12.1% on a year-over-year basis.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Ameren (AEE) Q4 Earnings Beat Estimates, Revenues Rise Y/Y
Ameren Corporation’s (AEE - Free Report) fourth-quarter 2022 earnings of 63 cents per share surpassed the Zacks Consensus Estimate of 56 cents per share by 12.5%. The reported figure increased 31.3% year over year.
The year-over-year bottom line was driven by increased infrastructure investments made across all business segments. Further, the upside was backed by higher weather-driven electric retail sales at Ameren Missouri, coupled with higher energy efficiency performance incentives in 2022.
For the full-year 2022, AEE reported earnings of $4.14 per share compared with $3.84 in the previous year’s quarter.
Total Revenues
Total revenues came in at $2,046 million in the reported quarter, which improved 32.4% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,598 million by 28%.
For the full-year 2022, total revenues came in at $7,957 million. Total revenues increased 24.4% year over year.
Ameren Corporation Price, Consensus and EPS Surprise
Ameren Corporation price-consensus-eps-surprise-chart | Ameren Corporation Quote
Highlights of the Release
Ameren’s total electricity sales volumes declined 4.9% to 17,277 million kilowatt-hours (kWh) in the fourth quarter compared with the 18,180 million kWh witnessed in the year-ago quarter. Gas volumes increased to 60 million dekatherms from 54 million dekatherms in the prior-year period.
Total operating expenses were $1,770 million, up 31.3% year over year. The company’s interest expenses in the fourth quarter were $130 million compared with the prior-year quarter’s $93 million.
Segment Results
The Ameren Missouri segment reported earnings of $562 million in 2022 compared with the $518 million recorded in the year-ago period. The increase was attributable to increased earnings on infrastructure investments, higher weather-driven electric retail sales and new electric service rates effective Feb 28, 2022.
The Ameren Illinois Electric Distribution segment reported earnings of $202 million in 2022 compared with the $165 million registered in the year-ago period. The year-over-year improvement highlighted increased earnings on infrastructure investments and a higher allowed return on equity due to a higher average 30-year U.S. Treasury bond yield in 2022 compared to 2021.
The Ameren Illinois Natural Gas segment generated earnings of $123 million in 2022 compared with $108 million in the year-ago period. The year-over-year improvement reflected earnings on increased infrastructure investments and higher delivery service rates effective late January 2021.
The Ameren Transmission segment reported earnings of $263 million in 2022 compared with $230 million in the prior year. The year-over-year improvement reflected increased earnings on infrastructure investments and the absence of the 2021 FERC order addressing the historical recovery of materials and supplies inventories.
Financial Condition
Ameren reported cash and cash equivalents of $10 million as of Dec 31, 2022 compared with the $8 million registered at the 2021-end.
As of Dec 30, 2022, the long-term debt totaled $13,685 million compared with $12,562 million as of Dec 31, 2021.
In 2022, the cash flow from operating activities amounted to $2,263 million compared with the $1,661 million generated in the prior-year period.
Guidance
Ameren initiated its 2023 guidance. AEE expects to generate earnings per share (EPS) in the range of $4.25-$4.45.
Currently, the Zacks Consensus Estimate for 2023 earnings is pegged at $4.35 per share. The figure is in line with the midpoint of the guidance range.
Zacks Rank
Ameren currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
Hawaiian Electric Industries, Inc. (HE - Free Report) reported an EPS of 52 cents in the fourth quarter of 2022. The bottom line improved 4% from 50 cents per share in the prior-year quarter.
Hawaiian Electric’s total revenues of $1,019.1 million in the fourth quarter improved 32.3% from the prior-year quarter’s $770.3 million. The rise in revenues can be attributed to increased contributions from the Electric Utility, Bank and other segments.
Duke Energy Corporation (DUK - Free Report) reported fourth-quarter 2022 adjusted earnings of $1.11 per share, which surpassed the Zacks Consensus Estimate of $1.06 by 4.7%. The bottom line also improved 26.1% year over year.
Total operating revenues came in at $7,351 million, which improved 20.2% from $6,117 million in the year-ago period. The reported top line also surpassed the Zacks Consensus Estimate of $6,608 million by 11.2%.
CMS Energy Corporation (CMS - Free Report) reported a fourth-quarter 2022 adjusted EPS of 60 cents from continuing operations, which came in line with the Zacks Consensus Estimate. The reported figure improved 27.7% on a year-over-year basis.
For the quarter under review, CMS Energy’s operating revenues were $2,278 million, which exceeded the Zacks Consensus Estimate of $2,185.3 million by 4.2%. The top line improved 12.1% on a year-over-year basis.