Ameren Corporation (AEE - Free Report) posted second-quarter 2017 earnings from continuing operations of 79 cents per share, beating the Zacks Consensus Estimate of 69 cents by 14.5%. The bottom line also improved 29.5% year over year.
The year-over-year bottom-line improvement was primarily driven by new Ameren Missouri electric service rates effective Apr 1, 2017, absence of a nuclear refueling and maintenance outage at the Callaway Energy Center, and a change in the timing of interim period revenue recognition at the Ameren Illinois Electric Distribution segment.
Total revenue of $1,538 million in the reported quarter was up 7.8% year over year on the back of higher electric sales volumes.
Highlights of the Release
Ameren’s total electricity sales in the quarter grew 9.2% to 19,125 million kilowatt hours (kWh) from 17,508 million kWh in the prior-year quarter. Gas volumes were down 3% to 32 million dekatherms from 33 million dekatherms in the prior-year quarter.
Total operating expenses were $1,140 million, up 3.4% year over year.
Interest expenses were $99 million, up 4.2% from the year-ago figure.
Ameren reported cash and cash equivalents of $10 million as of Jun 30 compared with $9 million at 2016 end.
Long-term debt as of Jun 30 was $6,597 million compared with $6,821 million as of Dec 31, 2016.
Cash from operating activities in the first six months of the year was $863 million compared with $763 million in the prior-year period.
Ameren reiterates 2017 diluted earnings per share to be in a range of $2.65−$2.85.
Ameren currently 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 second-quarter 2017 operating earnings per share of $1.07, which surpassed the Zacks Consensus Estimate of 97 cents by 10.3%. Operating earnings also grew 9.2% from the year-ago figure of 98 cents.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up by 11.4% year over year.
WEC Energy Group (WEC - Free Report) reported second-quarter 2017 adjusted earnings of 63 cents per share, surpassing the Zacks Consensus Estimate of 59 cents by 6.8%, and the year-ago figure of 57 cents by 10.5%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 through Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>