Ameren (AEE) Tops Q4 Earnings Estimates, Issues '18 View
Zacks Investment Research | Feb 16, 2018 01:14AM ET
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 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 Zacks Investment Research
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