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Ameren Corporation
Ameren (NYSE: AEE) Announces Second Quarter 2017 Results



Aug 7, 2017

Ameren Corporation (NYSE: AEE) today (8/4) announced second quarter 2017 net income attributable to common shareholders of $193 million, or $0.79 per share, compared to second quarter 2016 net income attributable to common shareholders of $147 million, or $0.61 per share.

The increase in year-over-year second quarter earnings reflected new Ameren Missouri electric service rates effective April 1, 2017 driven, in part, by increased infrastructure investments and removal of the negative effect of lower sales to the New Madrid smelter. The earnings improvement also resulted from the absence of a nuclear refueling and maintenance outage at the Callaway Energy Center, which reduced operations and maintenance expenses compared to the year-ago period when there was such an outage. In addition, the comparison benefited from a 2017 change in the timing of interim period revenue recognition at the Ameren Illinois Electric Distribution segment, reflecting the Illinois Future Energy Jobs Act, as well as increased infrastructure investments in the Ameren Transmission and Ameren Illinois Electric Distribution segments. These favorable factors were partially offset by lower 2017 Ameren Missouri electric retail sales, primarily driven by milder early summer temperatures.

"As a result of solid execution of our strategy, including continued disciplined cost management, we expect to deliver 2017 core earnings within a range of $2.70 to $2.90 per share, a 5-cent improvement over our prior guidance," said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "Our team continues to allocate capital to jurisdictions with modern, constructive regulatory frameworks. This includes advancing key Illinois grid modernization projects that provide significant customer benefits, all while meeting our region's energy needs, especially during the hot summer months. We expect this execution to deliver superior value to our customers and shareholders."

Ameren recorded net income attributable to common shareholders for the six months ended June 30, 2017, of $295 million, or $1.21 per share, compared to net income attributable to common shareholders for the six months ended June 30, 2016, of $252 million, or $1.04 per share.

The increase in year-over-year six-month earnings reflected a 2017 change in the timing of interim period revenue recognition at the Ameren Illinois Electric Distribution segment, new Ameren Missouri electric service rates and the absence of a nuclear refueling and maintenance outage at the Callaway Energy Center compared to the year-ago period when there was such an outage. The earnings comparison also benefited from increased infrastructure investments in the Ameren Transmission and Ameren Illinois Electric Distribution segments. These favorable factors were partially offset by lower 2017 Ameren Missouri electric retail sales primarily driven by milder temperatures, lower tax benefits associated with share-based compensation and higher Ameren Missouri depreciation expense.

Click here to read the full press release.

For more information:

Organization:
Ameren Corporation
www.ameren.com
Tel: 314-621-3222


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