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Ameren Corporation Beats Q1 Earnings Estimates, Up Y/Y - Analyst Blog

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Ameren CorporationAEE posted first-quarter 2015 earnings from continuing operations of 45 cents per share, beating the Zacks Consensus Estimate of 35 cents by 28.6%. Earnings also increased 12.5% from the year-ago figure. Increased infrastructure investments at electric transmission and delivery business resulted in the upside.

Ameren Corporation - Earnings Surprise | FindTheCompany

Total Revenues

Total revenues of $1,556 million for the first quarter also surpassed the Zacks Consensus Estimate of $1,504 million by 3.5%. Ameren's total operating revenues however dipped 2.4% year over year due to a decline in natural gas revenues.

Highlights of the Release

Ameren's total electricity sales in the reported quarter declined nearly 2% to 20,669 million kilowatt hours from 21,086 million kilowatt hours in the prior-year quarter. Gas volumes decreased 7.8% to 79,733 thousand dekatherms from 86,470 thousand dekatherms in the prior-year quarter.

Total operating expenses in the first quarter were $1,300 million, down 3.6% from the prior-year period. Expenses decreased primarily due to lower expenses for gas purchase for resale. Other than that operations and maintenance expenses were also slightly lower.

Interest expenses were $88 million compared with $92 million in the prior-year quarter.

Segmental Performance

Ameren Missouri : Segmental earnings were $41 million in the first quarter compared with $47 million in the year-ago period. Quarterly results declined due to lower electric and natural gas sales volumes on account of milder winter temperatures

Ameren Illinois : Segmental earnings stood at $53 million, flat with the year-ago quarter.

Parent Company and Other : The segment turned around with earnings of $14 million as against a loss of $3 million in the year-ago period.

Financial Condition

Ameren reported cash and cash equivalents of $6 million as of Mar 31, 2015, compared with $5 million at end 2014.

Long-term debt as of Mar 31, 2015 was $5,860 million compared with $6,120 million as of Dec 31, 2014.

Cash generated from operating activities in the first quarter was $298 million compared with $239 million in the prior-year quarter.

Capital expenditure in the quarter was $417 million, down from $442 million in the first quarter of 2014.

Guidance

Ameren reiterated its 2015 earnings guidance in the range of $2.45 to $2.65 per share.

At the Peers

Public Service Enterprise Group Inc. PEG or PSEG reported first-quarter 2015 operating earnings of $1.04 per share, surpassing the Zacks Consensus Estimate by 6.1%.

American Electric Power Company Inc. AEP reported first-quarter 2015 operating earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.11 by 15.3%.

DTE Energy Company DTE reported first-quarter 2015 operating earnings per share of $1.65, beating the Zacks Consensus Estimate of $1.49 by 10.7%.

Zacks Rank

Ameren presently holds a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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