Ameren Q2 Profit Tops View, Revenues Miss; Lifts FY16 EPS Forecast

(RTTNews) - Electric and gas utility Ameren Corp. (AEE) reported Friday that its second-quarter net income attributable to common shareholders declined to $147 million from last year's $150 million. Earnings per share, however, remained at the prior year level of $0.61.

The prior year's income from continuing operations was $98 million or $0.40 per share, while core net income was $141 million, or $0.58 per share.

On average, 8 analysts polled by Thomson Reuters expected earnings of $0.52 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues increased to $1.427 billion from last year's $1.401 billion. Analysts expected revenues of $1.45 billion.

Electric revenues went up to $1.274 billion from $1.250 billion a year ago.

Looking ahead, Ameren now expects its 2016 earnings to be in a range of $2.45 to $2.65 per share, an increase from its prior range of $2.40 to $2.60 per share. This updated guidance reflects year-to-date results and continues to include an estimated 15 cents per share reduction related to the expected temporary net effect of significantly lower electric sales volumes to Noranda.

Analysts expect earnings of $2.51 per share for the year.