Ameren Turns To Profit In Q1; Raises FY14 Outlook

(RTTNews) - Ameren Corp.(AEE) Thursday reported first-quarter profit of $96 million or $0.40 per basic share compared with a loss of $145 million or $0.60 per basic share last year. Helped by colder winter temperatures, increased revenues for electric transmission service and lower interest expenses, net income from continuing operations increased to $97 million or 40 cents per share from $54 million or 22 cents per share last year. On average, 7 analysts polled by Thomson Reuters expected earnings per share of $0.31 for the quarter. Analysts' estimates typically exclude one-time items. Operating revenues for the period rose to $1.59 billion from $1.47 billion last year. Analysts estimated revenues of $1.48 billion for the quarter. Further, the company raised its full-year earnings view and now expects earnings per share in a range of $2.30 - $2.50 versus the previous range of $2.25 - $2.45. The new guidance reflects colder-than-normal first quarter 2014 temperatures.

Analysts, on average, forecast full-year earnings of $2.35 per share.

The firm continues to expect earnings per share to grow at a 7 percent to 10 percent compound annual rate through 2018.