Ameren Corporation (AEE - Free Report) reported first-quarter 2018 earnings of 62 cents per share from continuing operations, which surpassed the Zacks Consensus Estimate of 58 cents by 6.9%. The bottom line also surged 47.6% year over year, primarily driven by higher Ameren Missouri electric service rates and Ameren Missouri electric retail sales.
Total revenues of $1,585 million in the quarter were up 4.6% year over year owing to higher electric and natural gas sales volumes.
Highlights of the Release
Ameren’s total electricity sales volumes in the quarter increased 3.5% to 19,849 million kilowatt hours (kWh) from 19,174 million kWh in the prior-year quarter. Gas volumes improved 20.3% to 77 million dekatherms.
Total operating expenses came in at $1,312 million, up 3.1% year over year.
Interest expenses were $101 million compared with $99 million in the year ago quarter.
Ameren reported cash and cash equivalents of $30 million as of Mar 31, 2018 compared with $10 million at 2017-end.
As of Mar 31, 2018, long-term debt totaled $6,766 million compared with $7,094 million as of Dec 31, 2017.
As of Mar 31, 2018, cash from operating activities amounted to $258 million compared with $331 million in the prior-year period.
Ameren continues to expect its 2018 earnings per share in the range of $2.95-$3.15.
Ameren carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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