Ameren Corporation (AEE - Free Report) posted third-quarter 2017 earnings from continuing operations of $1.24 per share, missing the Zacks Consensus Estimate of $1.31 by 5.3%. The bottom line also declined 18.4% year over year, primarily due to a change in the timing of interim period revenue recognition at Ameren Illinois Electric Distribution.
Total Revenues
Total revenues of $1,723 million in the reported quarter were down 7.3% year over year owing to lower electric as well as natural gas sales volumes.
Highlights of the Release
Ameren’s total electricity sales in the quarter decreased 1.8% to 21,009 million kilowatt hours (kWh) from 21,398 million kWh in the prior-year quarter. Gas volumes were flat at 29 million dekatherms with the prior-year quarter.
Total operating expenses were $1,142 million, down 2.2% year over year.
Interest expenses were $97 million in line with the year-ago figure.
Financial Condition
Ameren reported cash and cash equivalents of $9 million as of Sep 30 compared with $9 million at 2016 end.
Long-term debt as of Sep 30 was $6,922 million compared with $6,821 million as of Dec 31, 2016.
Cash from operating activities in the nine months of the year was $1,643 million compared with $1,559 million in the prior-year period.
Guidance
Ameren narrowed its 2017 core diluted earnings per share to be in a range of $2.73-$2.87 compared with $2.65-$2.85, guided earlier.
Zacks Rank
Ameren carries a Zacks Rank #4 (Sell).
Peer Releases
Entergy Corporation (ETR - Free Report) reported third-quarter 2017 operational earnings of $2.35 per share beating the Zacks Consensus Estimate of $2.24 by 4.9%. The reported number improved 1.7% from the year-ago figure. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DTE Energy Company (DTE - Free Report) reported third-quarter 2017 operating earnings per share (EPS) of $1.48, which missed the Zacks Consensus Estimate of $1.53 by 3.3%. Operating earnings also declined 24.5% from the year-ago figure of $1.96. The company holds a Zacks Rank #2 (Buy).
American Electric Power Co., Inc. (AEP - Free Report) reported third-quarter 2017 operating EPS of $1.10, missing the Zacks Consensus Estimate of $1.19 by 7.6%. The bottom line also declined 15.4% from $1.30 a year ago. The company carries a Zacks Rank #3.
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Ameren Corporation (AEE - Free Report) posted third-quarter 2017 earnings from continuing operations of $1.24 per share, missing the Zacks Consensus Estimate of $1.31 by 5.3%. The bottom line also declined 18.4% year over year, primarily due to a change in the timing of interim period revenue recognition at Ameren Illinois Electric Distribution.
Total Revenues
Total revenues of $1,723 million in the reported quarter were down 7.3% year over year owing to lower electric as well as natural gas sales volumes.
Highlights of the Release
Ameren’s total electricity sales in the quarter decreased 1.8% to 21,009 million kilowatt hours (kWh) from 21,398 million kWh in the prior-year quarter. Gas volumes were flat at 29 million dekatherms with the prior-year quarter.
Total operating expenses were $1,142 million, down 2.2% year over year.
Interest expenses were $97 million in line with the year-ago figure.
Financial Condition
Ameren reported cash and cash equivalents of $9 million as of Sep 30 compared with $9 million at 2016 end.
Long-term debt as of Sep 30 was $6,922 million compared with $6,821 million as of Dec 31, 2016.
Cash from operating activities in the nine months of the year was $1,643 million compared with $1,559 million in the prior-year period.
Guidance
Ameren narrowed its 2017 core diluted earnings per share to be in a range of $2.73-$2.87 compared with $2.65-$2.85, guided earlier.
Zacks Rank
Ameren carries a Zacks Rank #4 (Sell).
Peer Releases
Entergy Corporation (ETR - Free Report) reported third-quarter 2017 operational earnings of $2.35 per share beating the Zacks Consensus Estimate of $2.24 by 4.9%. The reported number improved 1.7% from the year-ago figure. The company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DTE Energy Company (DTE - Free Report) reported third-quarter 2017 operating earnings per share (EPS) of $1.48, which missed the Zacks Consensus Estimate of $1.53 by 3.3%. Operating earnings also declined 24.5% from the year-ago figure of $1.96. The company holds a Zacks Rank #2 (Buy).
American Electric Power Co., Inc. (AEP - Free Report) reported third-quarter 2017 operating EPS of $1.10, missing the Zacks Consensus Estimate of $1.19 by 7.6%. The bottom line also declined 15.4% from $1.30 a year ago. The company carries a Zacks Rank #3.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
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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