Ameren Q4 Profit From Cont. Ops. Rises - Quick Facts

(RTTNews) - Ameren Corp. (AEE) reported that its fourth-quarter net income from continuing operations increased to $48 million or $0.19 per share, from $12 million or $0.05 per share, last year. The company said its improvement in earnings reflected increased rates for Missouri electric and Illinois transmission service; greater electric and gas sales volumes primarily resulting from colder winter temperatures; and increased Illinois electric delivery earnings under formula ratemaking. These positive factors were partially offset by a fourth quarter 2013 charge related to the Illinois Commerce Commission's disallowance of certain debt redemption costs.

The company noted that as a result of its divestiture of merchant generation business, the results of this business are classified as discontinued operations.

On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.12 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues increased to $1.32 billion, from $1.26 billion, prior year. Analysts expected revenue of $1.34 billion for the quarter. Ameren expects 2014 earnings to be in a range of $2.25 to $2.45 per share. Further, it expects earnings per share to grow at a 7% to 10% compound annual rate through 2018 using 2013 results from continuing operations as the base. Analysts expect the company to report fiscal 2014 earnings per share of $2.29.