WASHINGTON (dpa-AFX) - Ameren Corp. (AEE) reported that its first-quarter profit from continuing operations increased to $56 million or $0.22 per share, from $39 million or $0.15 per share last year. The increase in earnings from continuing operations reflected improved earnings from Ameren Missouri and Ameren Illinois. Net loss attributable to Ameren was $145 million or $0.60 per share, compared to a loss of $403 million or $1.66 per share prior year.
The company noted that, with the decision to divest its merchant generation business to an affiliate of Dynegy Inc. (DYN), Ameren has classified the results of this business as held for sale and as discontinued operations in its first quarter 2013 financial statements.
Total operating revenues increased to $1.48 billion from $1.41 billion last year.
On average, seven analysts polled by Thomson Reuters expected the company to report profit of $0.28 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $1.63 billion for the quarter.
Ameren announced the company expects its 2013 earnings from continuing operations to be in the range of $2.00 to $2.20 per share. Analysts expect the company to report 2013 profit per share of $2.11.
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