Ameren Q2 Profit Rises, Reiterates Annual Earnings Outlook - Quick Facts

(RTTNews) - Missouri-based utility company Ameren Corp. (AEE) Tuesday reported a rise earnings as well as revenues for the second quarter, helped by a warmer summer and higher rates. The company also confirmed its annual earnings targets.

The prior-year quarter included a nuclear refueling outage expense and a charge related to Missouri fuel adjustment clause (FAC) treatment of certain prior period wholesale sales.

Net earnings increased to $149 million or $0.61 per basic share, from $95 million or $0.39 per basic share a year earlier.

On average, seven analysts polled by Thomson-Reuters estimated the company's earnings to be $0.58 for the quarter. Analysts' estimates typically exclude one-time items.

Operating revenues increased to $1.42 million, from $1.4 million last year, above the $1.4 billion Wall Street expected

Ameren continues to expect earnings per share to be in a range of $2.30 to $2.50 for 2014 and to grow at a 7 percent to 10 percent compound annual rate through 2018, the company said in a statement. Analysts expect earnings of $2.39 per share.