From a technical perspective, Ameren Corporation (AEE) is looking like an interesting pick, as it just reached a key level of support. AEE's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common mo ...

U.S. stock markets suffered a bloody blow in early August after a 19-month bull run. The Wall Street rout started primarily due to two factors. First, a few key economic data for July, especially labor market data, came in significantly lower than expected. This raised concerns about a near-term recession in the U.S. economy.The second reason was the unwinding of “Yen carry-trade” after the Bank of Japan unexpectedly hiked the benchmark interest rate last week. Large institutional investors, especially hedg ...

Financial Performance - Net income attributable to Ameren common shareholders for Q2 2024 was $258 million, or $0.97 per diluted share, up from $237 million, or $0.90 per diluted share in Q2 2023, reflecting a 8.8% increase [215]. - For the first half of 2024, net income attributable to Ameren common shareholders was $519 million, or $1.95 per diluted share, compared to $501 million, or $1.90 per diluted share in the same period of 2023, indicating a 3.6% increase [215]. - Net income attributable to Ameren common shareholders increased by $21 million, or $0.07 per diluted share, for the three months ended June 30, 2024, compared to the same period in 2023 [240]. - For the six months ended June 30, 2024, net income attributable to Ameren common shareholders rose by $18 million, or $0.05 per diluted share, compared to the prior year [243]. - Earnings per diluted share for the three months ended June 30, 2024, were $0.97, up from $0.90 in the same period last year [240]. - The company reported a total net income of $522 million for the first half of 2024, compared to $504 million in the first half of 2023, marking a growth of 3.6% [252]. Revenue and Sales - Electric revenues for Q2 2024 totaled $1,521 million, a decrease of 7.3% from $1,585 million in Q2 2023 [250]. - Natural gas revenues for Q2 2024 were $172 million, a slight decrease from $175 million in Q2 2023 [250]. - Electric revenues for the three months ended June 30, 2024, were $509 million, a decrease of 5.74% from $540 million in the same period last year [255]. - Natural gas revenues for the three months ended June 30, 2024, were $148 million, compared to $152 million in the same period last year, reflecting a decrease of 2.63% [255]. - For the six months ended June 30, 2024, electric revenues totaled $1,015 million, a decrease of 12.83% from $1,164 million in the same period last year [257]. - Natural gas revenues for the six months ended June 30, 2024, were $539 million, compared to $543 million in the same period last year, reflecting a decrease of 0.74% [257]. Operating Income and Expenses - Operating income for the first half of 2024 reached $732 million, compared to $680 million in the same period of 2023, reflecting a growth of 7.6% [252]. - Total operating expenses for Q2 2024 were $1,160 million, compared to $1,256 million in Q2 2023, indicating a reduction of 7.6% [250]. - Operating income for Ameren Missouri in Q2 2024 was $144 million, up from $132 million in Q2 2023, representing a 9.1% increase [250]. - The total depreciation and amortization expenses for the first half of 2024 were $737 million, compared to $655 million in the same period of 2023, reflecting an increase of 12.5% [252]. - Interest charges for the first half of 2024 amounted to $319 million, an increase from $261 million in the same period of 2023 [252]. Capital Investments and Projects - Ameren invested $1.9 billion in its rate-regulated businesses in the first half of 2024, focusing on energy infrastructure and regulatory enhancements [219]. - Ameren Missouri's Smart Energy Plan includes a five-year capital investment of approximately $12.4 billion from 2024 to 2028, aimed at upgrading electric infrastructure and accommodating renewable energy [223]. - Ameren's capital investments related to MISO long-range transmission projects are estimated at approximately $1.8 billion, with construction expected to begin in 2026 [233]. - Ameren plans to issue approximately $300 million of equity in 2024 and $600 million each year from 2025 to 2028 to support capital expenditures [332]. - The company expects to invest up to $22.8 billion in capital expenditures from 2024 through 2028, including $3.3 billion for renewable generation investments [401]. Regulatory and Rate Changes - In June 2024, Ameren Missouri requested a $446 million increase in annual revenues for electric service, based on a 10.25% return on common equity and a rate base of $14 billion [220]. - The ICC approved revenue requirements for Ameren Illinois' electric distribution services for 2024 to 2027, totaling $1,196 million, $1,282 million, $1,350 million, and $1,397 million respectively [228]. - The ICC's November 2023 order increased Ameren Illinois' annual revenues for natural gas delivery service by $112 million, based on a 9.44% allowed ROE and a rate base of approximately $2.85 billion [229]. - Ameren Illinois filed for a reconciliation adjustment requesting recovery of $158 million related to its 2023 electric distribution service revenue requirement [227]. - A proposed customer energy-efficiency plan by Ameren Missouri includes an investment of $123 million annually from 2025 to 2027, with potential performance incentives totaling $56 million if goals are met [224]. Challenges and Economic Factors - The company is experiencing elevated inflation levels affecting labor, services, materials, and supplies, alongside high interest rates [236]. - Elevated inflation levels and high interest rates are impacting cost control and investment capabilities, potentially affecting customer rates and service affordability [392]. - Increased financing costs at Ameren Missouri and Ameren (parent) negatively impacted earnings by $0.04 and $0.07 per share for the three and six months ended June 30, 2024, respectively [244]. Environmental and Sustainability Goals - The company is targeting net-zero carbon emissions by 2045, with interim goals of a 60% reduction by 2030 and an 85% reduction by 2040 based on 2005 levels [395]. - Ameren Missouri's preferred plan includes adding 800 MW of natural gas-fired generation by 2027 and 2,800 MW of renewable generation by 2030 [395]. - Ameren Missouri recorded a $20 million liability related to potential additional mitigation costs as part of ongoing environmental compliance efforts [391].

Ameren (AEE) reported $1.69 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.8%. EPS of $0.97 for the same period compares to $0.90 a year ago.The reported revenue represents a surprise of -9.93% over the Zacks Consensus Estimate of $1.88 billion. With the consensus EPS estimate being $0.93, the EPS surprise was +4.30%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Financial Data and Key Metrics Changes - Ameren Corporation reported second quarter 2024 earnings of $0.97 per share, an increase from $0.90 per share in the same quarter of 2023, driven by infrastructure investments and disciplined cost control [8][24] - Year-to-date 2024, the company experienced strong weather-normalized industrial sales growth of 3% compared to the prior year period, primarily from large primary service customers in the digital and data analytics industry [25] Business Line Data and Key Metrics Changes - The strategic infrastructure investments made in the first half of 2024 aimed to enhance the safety and reliability of the energy grid, with over 22,000 customer outages prevented in Missouri and 11,000 in Illinois due to modernization efforts [10][11] - Ameren Missouri's regulatory progress includes the approval of new solar and natural gas generation projects, with a total investment of approximately $1 billion across three solar projects [11][12] Market Data and Key Metrics Changes - The company noted a significant increase in data center inquiries and formal engineering reviews, representing thousands of megawatts of additional demand across Ameren Missouri and Illinois [14][15] - The economic development pipeline includes a construction agreement for a 250 megawatt data center, expected to increase Ameren Missouri's industrial megawatt hour sales by approximately 40% upon completion [16] Company Strategy and Development Direction - Ameren's strategic plan focuses on providing safe and reliable energy through investments in rate-regulated infrastructure, enhancing regulatory frameworks, and advocating for responsible energy policies [9] - The company anticipates a robust pipeline of investment opportunities exceeding $55 billion over the next decade, aimed at delivering significant value to stakeholders and creating jobs [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the investment opportunities in the utility industry, highlighting a strong economic development and sales growth pipeline [7] - The company expects to update its Integrated Resource Plan (IRP) by February 2025, considering potential load growth and planned generation portfolio adjustments [17][46] Other Important Information - Ameren Missouri filed for a $446 million electric revenue increase, primarily driven by capital investments under the Smart Energy Plan [27] - The Illinois Commerce Commission approved a $285 million cumulative revenue increase, representing approximately 94% of the rehearing request [29] Q&A Session All Questions and Answers Question: Update on Rush Island and mediation process - Management indicated that mediation is expected to take place this summer, with a resolution anticipated by the end of the year [37] Question: Insights on transmission projects and competitive allocation - Management discussed the competitive allocation process for Tranche 2.1 projects and expressed confidence in their ability to deliver these projects effectively [39][40] Question: Data center construction and future procurement acceleration - Management highlighted the importance of construction agreements for data centers and indicated that further clarity on megawatt capacity is expected by the next IRP update [44][46] Question: Impact of recent regulatory changes on operations - Management noted that recent regulatory developments in Missouri have been constructive, supporting the need for more dispatchable resources [58][59] Question: Expectations around resource mix in the upcoming IRP - Management acknowledged the need to assess load growth and resource mix, including potential acceleration of renewables and natural gas resources [61][63]

Core Viewpoint - Ameren Corporation reported a second-quarter 2024 earnings per share (EPS) of 97 cents, exceeding the Zacks Consensus Estimate of 93 cents by 4.3% and showing a year-over-year improvement of 7.8% driven by increased infrastructure investments and higher electric retail sales [1] Revenue Summary - Total revenues for the quarter were $1.69 billion, a decrease of 3.8% year over year, and fell short of the Zacks Consensus Estimate of $1.88 billion by 9.9% [2] Operational Highlights - Total electricity sales volumes increased by 5.3% to 17,110 million kilowatt-hours (kWh) compared to 16,246 million kWh in the previous year, while gas volumes decreased by 6.1% to 31 million dekatherms [3] - Total operating expenses were $1.33 billion, down 6.9% year over year, with interest expenses rising to $165 million from $134 million in the prior year [3] Segmental Results - Ameren Missouri segment earnings rose to $128 million from $102 million year over year, attributed to infrastructure investments and new electric service rates [4] - Ameren Illinois Electric Distribution segment earnings fell to $61 million from $66 million due to a lower allowed return on equity [4] - Ameren Illinois Natural Gas segment earnings decreased to $6 million from $11 million, impacted by new delivery service rates [4] - Ameren Transmission segment earnings increased to $79 million from $72 million, driven by infrastructure investments [5] Financial Condition - As of June 30, 2024, cash and cash equivalents were $19 million, down from $25 million at the end of 2023 [6] - Long-term debt increased to $16.28 billion from $15.12 billion as of December 31, 2023 [6] - Cash flow from operating activities was $1.04 billion, compared to $1.11 billion a year ago [6] Guidance - Ameren reiterated its 2024 EPS guidance, expecting a range of $4.52 to $4.72, with the current Zacks Consensus Estimate at $4.61, just below the midpoint of the guided range [7]

Ameren (AEE) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.30%. A quarter ago, it was expected that this utility would post earnings of $1.09 per share when it actually produced earnings of $0.98, delivering a surprise of -10.09%.Over the last four quarters, the company has surpas ...

Financial Performance - Second quarter 2024 diluted earnings per share were $0.97, an increase of 7.8% from $0.90 in the same period of 2023[1]. - Net income attributable to common shareholders for Q2 2024 was $258 million, compared to $237 million in Q2 2023, reflecting a year-over-year increase of 8.8%[1][2]. - The year-to-date net income for the first half of 2024 was $519 million, or $1.95 per diluted share, compared to $501 million, or $1.90 per diluted share, in the same period of 2023[3][4]. - Net income for the six months ended June 2024 increased to $522 million from $504 million in the same period of 2023, representing a growth of 3.6%[22]. - Operating income for Q2 2024 was $361 million, an increase of 9.7% from $329 million in Q2 2023[19]. Revenue and Sales - Total operating revenues for Q2 2024 were $1,693 million, a decrease of 3.8% from $1,760 million in Q2 2023[19]. - Ameren's total electric revenues for the six months ended June 2024 were $2,885 million, a decrease from $3,175 million in the same period of 2023, reflecting a decline of 9.1%[23]. - Total electric sales for Ameren Missouri in the six months ended June 2024 reached 17,782 million kilowatt-hours, up from 17,000 million kilowatt-hours in 2023, an increase of 4.6%[23]. - Gas revenues for Ameren Total in the six months ended June 2024 were $624 million, down from $647 million in 2023, a decrease of 3.6%[25]. Segment Performance - Ameren Missouri's Q2 2024 earnings were $128 million, up from $102 million in Q2 2023, driven by increased infrastructure investments and higher electric retail sales[7]. - Ameren Transmission segment earnings for Q2 2024 were $79 million, compared to $72 million in Q2 2023, reflecting growth from infrastructure investments[8]. - Ameren Illinois Electric Distribution segment earnings decreased to $61 million in Q2 2024 from $66 million in Q2 2023, attributed to a lower allowed return on equity[9]. - Ameren Illinois Natural Gas segment earnings fell to $6 million in Q2 2024 from $11 million in Q2 2023, impacted by new delivery service rates[10]. - Ameren Parent reported a loss of $16 million in Q2 2024, compared to a loss of $14 million in Q2 2023, primarily due to higher interest expenses[11]. Expenses and Costs - Total operating expenses decreased to $1,332 million in Q2 2024, down from $1,431 million in Q2 2023, a reduction of 6.9%[19]. - The company reported a decrease in fuel and purchased power expenses to $327 million in Q2 2024, down from $480 million in Q2 2023, a decline of 31.9%[19]. - Other income, net, increased to $103 million in Q2 2024, compared to $82 million in Q2 2023, marking a growth of 25.6%[19]. Guidance and Strategic Focus - Ameren reaffirmed its 2024 earnings guidance range of $4.52 to $4.72 per diluted share, assuming normal temperatures for the last six months of the year[6]. - The company continues to focus on strategic infrastructure investments and disciplined cost control to drive sustainable earnings growth[3]. Balance Sheet and Capital - Total assets increased to $42,334 million in 2024, up from $40,830 million in 2023, representing a growth of 3.7%[20]. - Long-term debt, net, rose to $16,280 million in 2024, compared to $15,121 million in 2023, indicating an increase of 7.7%[20]. - Capital expenditures for the six months ended June 2024 totaled $1,892 million, compared to $1,822 million in 2023, an increase of 3.8%[22]. - Net cash used in investing activities for the six months ended June 2024 was $1,932 million, compared to $1,889 million in 2023, an increase of 2.3%[22]. Shareholder Information - Dividends on common stock increased to $356 million for the three months ended June 2024, up from $330 million in the same period of 2023, a rise of 7.9%[22]. - The number of shares outstanding as of June 30, 2024, was 266.8 million, slightly up from 266.3 million in 2023[24]. - The book value per share increased to $43.25 as of June 30, 2024, compared to $42.62 in 2023, reflecting a growth of 1.5%[24]. Regulatory and Environmental Considerations - The impact of current environmental laws and changing requirements may affect operational costs and investment needs, potentially leading to financial implications[16].

Core Points - Ameren Corporation reported a second quarter 2024 net income of $258 million, or $0.97 per diluted share, an increase from $237 million, or $0.90 per diluted share in the same period of 2023 [1][3] - The company reaffirmed its 2024 earnings guidance range of $4.52 to $4.72 per diluted share [5] Financial Performance - The second quarter 2024 results were driven by increased infrastructure investments and higher electric retail sales due to warmer weather compared to the previous year [2][4] - For the six months ended June 30, 2024, net income attributable to common shareholders was $519 million, or $1.95 per diluted share, compared to $501 million, or $1.90 per diluted share for the same period in 2023 [3][4] Segment Results - Ameren Missouri's second quarter 2024 earnings were $128 million, up from $102 million in the second quarter of 2023, attributed to higher electric retail sales and new service rates [6] - Ameren Transmission reported earnings of $79 million for the second quarter 2024, an increase from $72 million in the same quarter of 2023 [6] - Ameren Illinois Electric Distribution earnings decreased to $61 million in the second quarter 2024 from $66 million in the same period of 2023, primarily due to a lower allowed return on equity [7] - Ameren Illinois Natural Gas segment earnings fell to $6 million in the second quarter 2024 from $11 million in the same quarter of 2023, impacted by new delivery service rates [8] Revenue and Expenses - Total operating revenues for the second quarter 2024 were $1.693 billion, compared to $1.760 billion in the second quarter of 2023 [15] - Operating expenses for the second quarter 2024 were $1.332 billion, down from $1.431 billion in the same period of 2023 [15] - The company experienced higher interest expenses and operations and maintenance costs, which partially offset the positive impacts on earnings [2][4] Cash Flow and Investments - Net cash provided by operating activities for the first half of 2024 was $1.049 billion, compared to $1.111 billion in the same period of 2023 [18] - Capital expenditures for the second quarter 2024 were $1.892 billion, slightly higher than $1.822 billion in the same quarter of 2023 [18] Customer Statistics - Ameren's total electric sales for the second quarter 2024 were 17,110 million kilowatt-hours, an increase from 16,246 million kilowatt-hours in the same quarter of 2023 [20] - The company served 2.4 million electric customers and over 900,000 natural gas customers across its service areas [9]

Wall Street analysts forecast that Ameren (AEE) will report quarterly earnings of $0.93 per share in its upcoming release, pointing to a year-over-year increase of 3.3%. It is anticipated that revenues will amount to $1.87 billion, exhibiting an increase of 6.4% compared to the year-ago quarter.The current level reflects an upward revision of 10.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their in ...