Earnings Review and Free Research Report: Ameren’s Revenue Grew 7.7%; EPS Jumped 29.5%

Research Desk Line-up: PPL Corp. Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Ameren Corp. (NYSE: AEE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AEE, following the Company’s posting of its second quarter fiscal 2017 financial results on August 04, 2017. The utility Company outperformed earnings expectations and also increased its non-GAAP earnings forecast for the year. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Earnings Reviewed

For the three months ended June 30, 2017, Ameren recorded revenue of $1.54 billion compared to revenue of $1.43 billion for Q2 2016.

Ameren announced net income attributable to common shareholders of $193 million, or $0.79 per share, in Q2 2017, up 29.5% compared to net income attributable to common shareholders of $147 million, or $0.61 per share, in Q2 2016. The increase was primarily attributed to new Ameren Missouri electric service rates effective April 01, 2017 driven, in part, by increased infrastructure investments and removal of the negative effect of lower sales to the New Madrid smelter. The Company’s earnings numbers exceeded Wall Street’s expectations of $0.69 per share.

Ameren’s Segment Results

Ameren Missouri – During Q2 2017, Ameren Missouri earnings totaled $120 million compared to earnings of $92 million in Q2 2016. The increase was driven by new electric service rates and the absence of a nuclear refueling and maintenance outage at the Callaway Energy Center. The earnings comparison was unfavorably affected by lower 2017 electric retail sales, primarily driven by milder early summer temperatures.

Ameren Illinois Electric Distribution – For Q2 2017, Ameren Illinois Electric Distribution earnings were $33 million compared to earnings of $18 million for Q2 2016. The reported quarter earnings included a $9 million increase due to a 2017 change in the timing of interim period revenue recognition reflecting the Illinois Future Energy Jobs Act, which decoupled revenues from sales volumes. This change increases first, second and fourth quarter revenue while decreasing third quarter revenue, compared to 2016, with no effect on full-year earnings.

Ameren Transmission – Ameren Transmission’s earnings were $34 million in Q2 2017 compared to earnings of $32 million for Q2 2016. The y-o-y earnings improvement reflected increased infrastructure investments, partially offset by a lower allowed return on equity.

Dividend Declared

On August 11, 2017, Ameren’s board of directors of declared a quarterly cash dividend on its common stock of $0.44 per share. This dividend is payable September 29, 2017, to shareholders of record at the close of business on September 13, 2017.

Separately, Union Electric Company’s Board of Directors doing business as Ameren Missouri, declared regular quarterly cash dividends on all classes of Union Electric Company’s preferred stock. These preferred stock dividends are payable November 15, 2017, to shareholders of record at the close of business on October 20, 2017.

In addition, Ameren Illinois Company’s Board of Directors declared regular quarterly cash dividends on all classes of Ameren Illinois Company’s preferred stock. These preferred stock dividends are payable November 01, 2017, to shareholders of record at the close of business on October 09, 2017.

Cash Matters

As of June 30, 2017, Ameren had cash and cash equivalents of $10 million compared to cash worth $9 million at the end of 2016. The Company’s cash from operating activities totaled $863 million in H1 2017.

Earnings Guidance

Ameren reiterated GAAP earnings guidance for FY17 to be in the range of $2.65 to $2.85 per diluted share, including expected Q3 2017 non-cash estimated charge of $0.06 per diluted share, primarily at the parent company, for revaluation of deferred taxes. Ameren is projecting non-GAAP earnings for FY17 to be in the band of $2.70 to $2.90 per diluted share, a $0.05 per-share improvement over the prior guidance range.

Stock Performance

At the closing bell, on Wednesday, August 23, 2017, Ameren’s stock rose slightly by 0.57%, ending the trading session at $60.25. A total volume of 998.42 thousand shares have exchanged hands. The Company’s stock price surged 7.32% in the last three months, 11.43% in the past six months, and 19.50% in the previous twelve months. Moreover, the stock rallied 14.85% since the start of the year. The stock is trading at a PE ratio of 21.02 and has a dividend yield of 2.92%. The stock currently has a market cap of $14.54 billion.

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