Ameren Corporation’s (NYSE:AEE) fourth-quarter 2018 earnings of 28 cents per share from continuing operations missed the Zacks Consensus Estimate of 32 cents by 12.5%. The bottom line, however, improved when compared to a loss of 24 cents incurred in the year-ago quarter.
The company generated 2018 adjusted earnings of $3.37 per share from continuing operations, which missed the Zacks Consensus Estimate of $3.41 by 1.2%. The bottom line, however, improved 19.1% from the year-ago tally.
Total Revenues
Total revenues came in at $1,419 million in the reported quarter, which improved 1.4% year over year owing to higher electric as well as natural gas sales volumes.
In 2018, the company generated total revenues of $6,291 million, which increased 1.9% from the year-ago tally.
Highlights of the Release
Ameren’s total electricity sales volumes expanded 9.3% to 19,537 million kilowatt hours (kWh) compared with 17,873 million kWh in the year-ago quarter. Moreover, gas volumes expanded 3.4% to 61 million dekatherms.
Total operating expenses summed $1,253 million, up 5.6% year over year.
Interest expenses were $99 million compared with $96 million a year ago.
Financial Condition
Ameren reported cash and cash equivalents of $16 million as of Dec 31, 2018 compared with $10 million at 2017 end.
As of Dec 31, 2018, long-term debt totaled $7,859 million compared with $7,094 million as of Dec 31, 2017.
In 2018, cash from operating activities amounted to $2,170 million compared with $2,118 million in 2017.
Guidance
Ameren issued its 2019 guidance. The company expects its earnings to be in the range of $3.15-$3.35 per share, which is projected to grow at a 6-8% compound annual rate from 2018 through 2023. Currently the Zacks Consensus Estimate for the company’s 2019 earnings is pegged at $3.29 per share, higher than the mid-point of the company provided guidance.
Zacks Rank
Ameren sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Recent Utility Releases
American Electric Power Co. (NYSE:AEP) reported fourth-quarter 2018 operating earnings per share of 72 cents, in line with the Zacks Consensus Estimate.
NextEra Energy, Inc. (NYSE:NEE) reported fourth-quarter 2018 adjusted earnings of $1.49 per share, which fell short of the Zacks Consensus Estimate of $1.51 by 1.3%.
Dominion Energy Inc. (NYSE:D) reported fourth-quarter 2018 operating earnings of 89 cents per share, which missed the Zacks Consensus Estimate of 91 cents by 2.2%.
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