Ameren Corporation’s (AEE - Free Report) first-quarter 2022 earnings of 97 cents per share surpassed the Zacks Consensus Estimate of 96 cents by 1%. Also, the reported figure improved by 6.6% from the 91 cents reported in the year-ago quarter.
The year-over-year bottom-line improvement can be primarily attributed to increased infrastructure investments across all the company’s business segments.
Total Revenues
Total revenues came in at $1,879 million in the reported quarter, which improved by 20% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,620 million by 16%.
Highlights of the Release
Ameren’s total electricity sales volumes rose 12.2% to 19,806 million kilowatt-hours (kWh) compared with 17,655 million kWh witnessed in the year-ago quarter. Gas volumes rose 3.9% to 80 million dekatherms.
Total operating expenses were $1,548 million, up 23.8% year over year.
The company’s interest expenses in the first quarter were $104 million compared with the prior-year quarter’s $100 million.
Segment Results
The Ameren Missouri segment reported earnings of $50 million in the first quarter of 2022 compared with the $47 million recorded in the year-ago period. The year-over-year improvement can be attributed to earnings from infrastructure investments, including wind generation and higher electric retail sales.
The Ameren Illinois Electric Distribution segment reported earnings of $49 million in the first quarter of 2022 compared with the $46 million registered in the year-ago period. The year-over-year improvement was driven by increased earnings from infrastructure investments and a higher allowed return on equity due to a higher average 30-year U.S. Treasurybond yield in 2022 compared with 2021.
The Ameren Illinois Natural Gas segment generated earnings of $80 million in the first quarter of 2022 compared with $75 million in the year-ago period. This year-over-year improvement was led by higher delivery services rates effective late January 2021, which incorporated increased infrastructure investments.
The Ameren Transmission segment reported earnings of $58 million in the first quarter of 2022 compared with $47 million in the prior year. The improvement can be attributed to higher earnings from infrastructure investments.
Financial Condition
Ameren reported cash and cash equivalents of $7 million as of Mar 31, 2022 compared with the $8 million registered at the 2021-end.
As of Mar 31, 2022, the long-term debt totaled $12,563 million compared with $12,562 million as of Dec 31, 2021.
During the first quarter, the cash flow from operating activities amounted to $388 million against the cash outflow of $35 million in the prior-year period.
Guidance
Ameren reaffirmed its 2022 guidance. AEE currently expects to generate earnings per share (EPS) in the range of $3.95-$4.15. Currently, the Zacks Consensus Estimate for 2022 earnings is pegged at $4.07 per share, higher than the midpoint of the guidance range.
Zacks Rank
Ameren currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2022 operating EPS of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined by 13% from the year-ago earnings of 69 cents per share.
FirstEnergygenerated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. FE’s top line improved by 8.7% from $2,752 million in the year-ago quarter.
NextEra Energy (NEE - Free Report) reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.
NextEra Energy’soperating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. NEE’s top line also decreased by 22.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined by 10.2% from $1.47 per share in the year-ago quarter.
Entergy’s first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. As of Mar 31, 2022, ETR had cash and cash equivalents of $701.6 million compared with $442.6 million as of Dec 31, 2021.
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Ameren Corporation’s (AEE - Free Report) first-quarter 2022 earnings of 97 cents per share surpassed the Zacks Consensus Estimate of 96 cents by 1%. Also, the reported figure improved by 6.6% from the 91 cents reported in the year-ago quarter.
The year-over-year bottom-line improvement can be primarily attributed to increased infrastructure investments across all the company’s business segments.
Total Revenues
Total revenues came in at $1,879 million in the reported quarter, which improved by 20% year over year due to higher electric and natural gas revenues. Revenues also beat the Zacks Consensus Estimate of $1,620 million by 16%.
Highlights of the Release
Ameren’s total electricity sales volumes rose 12.2% to 19,806 million kilowatt-hours (kWh) compared with 17,655 million kWh witnessed in the year-ago quarter. Gas volumes rose 3.9% to 80 million dekatherms.
Total operating expenses were $1,548 million, up 23.8% year over year.
The company’s interest expenses in the first quarter were $104 million compared with the prior-year quarter’s $100 million.
Segment Results
The Ameren Missouri segment reported earnings of $50 million in the first quarter of 2022 compared with the $47 million recorded in the year-ago period. The year-over-year improvement can be attributed to earnings from infrastructure investments, including wind generation and higher electric retail sales.
The Ameren Illinois Electric Distribution segment reported earnings of $49 million in the first quarter of 2022 compared with the $46 million registered in the year-ago period. The year-over-year improvement was driven by increased earnings from infrastructure investments and a higher allowed return on equity due to a higher average 30-year U.S. Treasurybond yield in 2022 compared with 2021.
The Ameren Illinois Natural Gas segment generated earnings of $80 million in the first quarter of 2022 compared with $75 million in the year-ago period. This year-over-year improvement was led by higher delivery services rates effective late January 2021, which incorporated increased infrastructure investments.
The Ameren Transmission segment reported earnings of $58 million in the first quarter of 2022 compared with $47 million in the prior year. The improvement can be attributed to higher earnings from infrastructure investments.
Financial Condition
Ameren reported cash and cash equivalents of $7 million as of Mar 31, 2022 compared with the $8 million registered at the 2021-end.
As of Mar 31, 2022, the long-term debt totaled $12,563 million compared with $12,562 million as of Dec 31, 2021.
During the first quarter, the cash flow from operating activities amounted to $388 million against the cash outflow of $35 million in the prior-year period.
Guidance
Ameren reaffirmed its 2022 guidance. AEE currently expects to generate earnings per share (EPS) in the range of $3.95-$4.15. Currently, the Zacks Consensus Estimate for 2022 earnings is pegged at $4.07 per share, higher than the midpoint of the guidance range.
Zacks Rank
Ameren currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2022 operating EPS of 60 cents, which missed the Zacks Consensus Estimate of 62 cents by 3.2%. The bottom line declined by 13% from the year-ago earnings of 69 cents per share.
FirstEnergygenerated operating revenues of $2,991 million in the first quarter, which surpassed the Zacks Consensus Estimate of $2,782 million by 7.5%. FE’s top line improved by 8.7% from $2,752 million in the year-ago quarter.
NextEra Energy (NEE - Free Report) reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%. The bottom line was also up 10.5% from the prior-year quarter.
NextEra Energy’soperating revenues were $2,890 million, which lagged the Zacks Consensus Estimate of $5,178 million by 44.2%. NEE’s top line also decreased by 22.4% year over year.
Entergy Corporation (ETR - Free Report) reported first-quarter 2022 adjusted earnings of $1.32 per share, which missed the Zacks Consensus Estimate of $1.38 by 4.3%. The reported figure also declined by 10.2% from $1.47 per share in the year-ago quarter.
Entergy’s first-quarter revenues of $2.88 billion exceeded the Zacks Consensus Estimate of $2.75 billion by 4.8%. As of Mar 31, 2022, ETR had cash and cash equivalents of $701.6 million compared with $442.6 million as of Dec 31, 2021.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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