Ameren Corporation (NYSE:AEE) posted fourth-quarter 2017 adjusted earnings from continuing operations of 39 cents per share, surpassing the Zacks Consensus Estimate of 34 cents by 14.7%. The bottom line also surged 200% year over year, primarily due to a change in the timing of interim period revenue recognition at Ameren Illinois Electric Distribution.
For 2017, Ameren Corporation reported adjusted earnings of $2.83 per share, compared with earnings of $2.68 in the prior year. Full-year earnings surpassed the Zacks Consensus Estimate of $2.79 by 1.4%.
Total Revenues
Total revenues of $1,402 million in the quarter were up 3.4% year over year owing to higher electric as well as natural gas sales volumes.
For 2017, the company generated revenues worth $6,177 million that lagged the Zacks Consensus Estimate of $6,330 million. However, on a year-over-year basis, revenues rose 1.7% from $6,076 million in the prior year.
Highlights of the Release
Ameren’s total electricity sales volumes in the quarter decreased 2.1% to 17,854 million kilowatt hours (kWh) from 18,235 million kWh in the prior-year quarter. Gas volumes improved 11.3% 59 million dekatherms.
Total operating expenses were $1,177 million, down 2.8% year over year.
Interest expenses were $96 million compared with $95 million with the year-ago figure.
Ameren Corporation Price, Consensus and EPS Surprise
Ameren Corporation Price, Consensus and EPS Surprise | Ameren Corporation Quote
Financial Condition
Ameren reported cash and cash equivalents of $10 million as of Dec 31, 2017 compared with $9 million at 2016 end.
Long-term debt as of Dec 31, 2017 was $7,094 million compared with $6,595 million as of Dec 31, 2016.
Cash from operating activities as on Dec 31, 2017 was $2,104 million compared with $2,123 million in the prior-year period.
Guidance
Ameren expects 2018 earnings per share to be in a range of $2.95-$3.15.
Zacks Rank
Ameren carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Peer Releases
Exelon Corp (NYSE:EXC) reported fourth-quarter 2017 operating earnings of 55 cents per share, which lagged the Zacks Consensus Estimate of 62 cents by 11.3%. However, quarterly earnings were 25% higher than the year-ago figure of 44 cents.
Dominion Energy (NYSE:D) reported fourth-quarter 2017 operating earnings of 91 cents per share, beating the Zacks Consensus Estimate of 88 cents by 3.4%. However, operating earnings decreased 8.1% from 99 cents reported a year ago.
American Electric Power (NYSE:AEP) reported fourth-quarter 2017 operating earnings per share of 85 cents, exceeding the Zacks Consensus Estimate of 81 cents by 4.9%. The bottom line also improved 4.9% from 67 cents per share reported a year ago.
Wall Street’s Next Amazon (NASDAQ:AMZN)
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Ameren Corporation (AEE): Free Stock Analysis Report
American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
Exelon Corporation (EXC): Free Stock Analysis Report
Dominion Energy Inc. (D): Free Stock Analysis Report
Original post
Zacks Investment Research