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Ameren (AEE) Q3 Earnings Top Mark on Higher Electric Sales
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Ameren Corporation’s (AEE - Free Report) third-quarter 2018 earnings of $1.50 per share from continuing operations surpassed the Zacks Consensus Estimate of $1.28 by 17.2%. The bottom line also improved 21% year over year, primarily driven by higher Ameren Missouri electric retail sales.
Also, infrastructure investments made in Ameren Transmission and Ameren Illinois Electric Distribution contributed to this bottom-line growth.
Barring one-time items, the company reported GAAP earnings of $1.45 per share compared with $1.18 in the prior-year period.
Total Revenues
Total revenues came in at $1,724 million, which inched up 0.1% year over year owing to higher electric and natural gas sales volumes.
Ameren Corporation Price, Consensus and EPS Surprise
Ameren’s total electricity sales volumes expanded 2.6% to 21,568 million kilowatt hours (kWh) compared with 21,029 million kWh in the year-ago quarter. However, gas volumes contracted 3.5% to 28 million dekatherms.
Total operating expenses summed $1,191 million, up 3.2% year over year.
Interest expenses were $101 million compared with $97 million a year ago.
Financial Condition
Ameren reported cash and cash equivalents of $11 million as of Sep 30, 2018 compared with $10 million at 2017 end.
As of Sep 30, 2018, long-term debt totaled $7,614 million compared with $7,094 million as of Dec 31, 2017.
In first nine months of 2018 cash from operating activities amounted to $1,686 million compared with $1,647 million in the year-earlier period.
Guidance
Ameren has raised its 2018 earnings per share outlook to the range of $3.35-$3.45 from $3.15-$3.35, projected earlier.
DTE Energy Co. (DTE - Free Report) reported third-quarter 2018 operating earnings per share of $2.13, which outpaced the Zacks Consensus Estimate of $1.74 by 22.4%.
NextEra Energy (NEE - Free Report) posted third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.
American Electric Power (AEP - Free Report) released third-quarter 2018 operating earnings per share of $1.26, surpassing the Zacks Consensus Estimate of $1.23 by 2.4%.
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Ameren (AEE) Q3 Earnings Top Mark on Higher Electric Sales
Ameren Corporation’s (AEE - Free Report) third-quarter 2018 earnings of $1.50 per share from continuing operations surpassed the Zacks Consensus Estimate of $1.28 by 17.2%. The bottom line also improved 21% year over year, primarily driven by higher Ameren Missouri electric retail sales.
Also, infrastructure investments made in Ameren Transmission and Ameren Illinois Electric Distribution contributed to this bottom-line growth.
Barring one-time items, the company reported GAAP earnings of $1.45 per share compared with $1.18 in the prior-year period.
Total Revenues
Total revenues came in at $1,724 million, which inched up 0.1% year over year owing to higher electric and natural gas sales volumes.
Ameren Corporation Price, Consensus and EPS Surprise
Ameren Corporation Price, Consensus and EPS Surprise | Ameren Corporation Quote
Highlights of the Release
Ameren’s total electricity sales volumes expanded 2.6% to 21,568 million kilowatt hours (kWh) compared with 21,029 million kWh in the year-ago quarter. However, gas volumes contracted 3.5% to 28 million dekatherms.
Total operating expenses summed $1,191 million, up 3.2% year over year.
Interest expenses were $101 million compared with $97 million a year ago.
Financial Condition
Ameren reported cash and cash equivalents of $11 million as of Sep 30, 2018 compared with $10 million at 2017 end.
As of Sep 30, 2018, long-term debt totaled $7,614 million compared with $7,094 million as of Dec 31, 2017.
In first nine months of 2018 cash from operating activities amounted to $1,686 million compared with $1,647 million in the year-earlier period.
Guidance
Ameren has raised its 2018 earnings per share outlook to the range of $3.35-$3.45 from $3.15-$3.35, projected earlier.
Zacks Rank
Ameren sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Utility Releases
DTE Energy Co. (DTE - Free Report) reported third-quarter 2018 operating earnings per share of $2.13, which outpaced the Zacks Consensus Estimate of $1.74 by 22.4%.
NextEra Energy (NEE - Free Report) posted third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.
American Electric Power (AEP - Free Report) released third-quarter 2018 operating earnings per share of $1.26, surpassing the Zacks Consensus Estimate of $1.23 by 2.4%.
3 Medical Stocks to Buy Now
The greatest discovery in this century of biology is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating revenue, and cures for a variety of deadly diseases are in the pipeline.
So are big potential profits for early investors. Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it.
See them today for free >>