Plus   Neg

Ameren Q2 Profit Tops View, But Revenues Miss

Ameren Corp. (AEE) second quarter 2020 net income attributable to common shareholders of $243 million or $0.98 per share, up from $179 million or $0.72 per share in the second quarter 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share for the quarter. Analysts' estimates typically exclude special items.

The second quarter 2020 results reflected earnings on increased infrastructure investments made across all business segments driven by solid execution of the company's strategy.

The earnings improvement also resulted from lower Ameren Missouri operations and maintenance expenses due to the absence of a refueling and maintenance outage at the Callaway Energy Center compared to the year-ago period when there was such an outage, as well as disciplined cost management.

Total operating revenues for the quarter grew to $1.40 billion from $1.38 billion in the prior year. Analysts expected revenue of $1.44 billion for the quarter.

Ameren reaffirmed its 2020 earnings guidance range of $3.40 to $3.60 per share. Analysts expect annual earnings of $3.45 per share.

AEE closed Thursday regular trading at $81.06 up $0.61 or 0.76 percent. But in the after-hours, the stock dropped $10.81 or 13.34 percent.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT