Ameren Q2 Profit Tops View, But Revenues Miss

(RTTNews) - 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.