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Ameren Misses Expectations for Q2 Earnings

Ameren Corporation (NYSE: AEE) reported second quarter EPS of $0.44 versus consensus of $0.49. EPS were down 40 percent year over year. Revenue was reported at $1.40 billion versus the estimated $1.50 billion. Sales were Down 16 percent year over year.

“Second quarter earnings from continuing operations were in line with our expectations excluding the charge related to the Missouri Court of Appeals FAC decision,” said Thomas R. Voss, chairman, president and CEO of Ameren Corporation. “Reflecting this charge, we have updated our 2013 guidance for earnings from continuing operations to a range of $2.00 to $2.15 per share, compared to our prior range of $2.00 to $2.20 per share.

“We remain committed to closing the transaction to divest our merchant generation business and expect to do so in the fourth quarter of this year,” Voss said. “Once completed, Ameren will be a purely rate-regulated business focused on growing our investments in utility infrastructure to benefit our customers, communities and investors. In this regard, we are pleased that recently enacted Illinois legislation improves the regulatory frameworks for investment in our electric and natural gas delivery businesses in that state.”

[stock-tools exchange="NYSE" symbol="AEE" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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