Stock Monitor: Atlantic Power Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 29, 2018 / Active-Investors.com has just released a free earnings report on Ameren Corp. (NYSE: AEE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=AEE. Ameren reported its fourth quarter fiscal 2017 operating and financial results on February 15, 2018. The Utility Company beat earnings estimates and provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Ameren most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the quarter ended December 31, 2017, Ameren recorded total operating revenues of $1.40 billion, up 3% compared to revenue of $1.36 billion in Q4 2016. The Company's reported numbers fell short of analysts' estimates by $200 million.
For the year ended December 31, 2017, Ameren generated revenue of $6.18 billion, up 2% versus $6.08 billion in FY16.
Ameren recorded a GAAP net loss attributable to common shareholders of $60 million, or $0.24 per diluted share, for Q4 2017 compared to net income attributable to common shareholders of $32 million, or $0.13 per diluted share, for Q4 2016. The Company's GAAP results for the reported quarter included a $154 million, or $0.63 per diluted share, charge for the revaluation of deferred taxes resulting from a change in federal income tax rate.
Ameren recorded core earnings of $94 million, or $0.39 per diluted share, for Q4 2017 compared to $32 million, or $0.13 per diluted share, for Q4 2016. The y-o-y increase in reported quarter core earnings per shares reflected a change in the timing of interim period revenue recognition at Ameren Illinois Electric Distribution that increased results by $0.12 per diluted share on Q4 2017 but had no effect on FY17 earnings.
Ameren announced GAAP net income attributable to common shareholders of $523 million, or $2.14 per diluted share, in FY17 compared to $653 million, or $2.68 per diluted share, for FY16. The Company's GAAP earnings for FY17 included non-cash charges that decreased earnings by a combined $168 million, or $0.69 per diluted shar. Excluding these charges, Ameren recorded core earnings of $691 million, or $2.83 per diluted share, for FY17. There were no differences between GAAP and core earnings for FY16.
Ameren's Segment Results
During FY17, the Missouri GAAP earnings were $323 million compared to earnings of $357 million in FY16. The segment's GAAP earnings for FY17 included a $36 million non-cash charge for the revaluation of deferred taxes resulting from a change in the federal income tax rate.
For FY17, the Missouri core earnings were $359 million compared to earnings of $357 million in FY16. The increase in y-o-y core earnings reflected new electric service rates that were largely offset by lower electric retail sales primarily driven by milder summer temperatures, the absence of a FY16 performance incentive award as well as higher depreciation and transmission expenses.
For FY17, the Illinois Electric Distribution segment's earnings totaled $131 million compared to earnings of $126 million in FY16. The y-o-y earnings improvement was primarily driven by earnings on increased infrastructure investments as well as a higher allowed return on equity due to a higher average 30-year US Treasury bond yield.
In FY17, the Illinois Natural Gas segment's earnings equaled $60 million for 2017 compared to FY16 earnings of $59 million. The Company's Ameren Transmission earnings were $140 million for FY17, up 20% compared to earnings of $117 million in FY16, driven by increased infrastructure investments partially offset by a lower allowed return on equity.
Earnings Guidance
For full year 2018, Ameren is forecasting earnings to be in a range of $2.95 to $3.15 for 2018 and to grow at a 5% to 7% compound annual rate from 2017 through 2022, using 2017 core results as a base.
Stock Performance Snapshot
March 28, 2018 - At Wednesday's closing bell, Ameren's stock slightly climbed 0.11%, ending the trading session at $55.94.
Volume traded for the day: 1.32 million shares.
Stock performance in the last month - up 1.91%; and past twelve-month period - up 1.14%
After yesterday's close, Ameren's market cap was at $13.80 billion.
Price to Earnings (P/E) ratio was at 26.07.
The stock has a dividend yield of 3.27%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 0.1% at the end of the session.
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