Ameren(AEE)2025-02-13 21:37Financial Performance - 2024 net income attributable to common shareholders was 4.42 per diluted share, compared to 4.38 per diluted share in 2023, reflecting a 2.6% increase in net income [2]. - Adjusted net income for 2024 was 4.63 per diluted share, with no differences from GAAP earnings in 2023 [2][3]. - The net income attributable to Ameren common shareholders for the year ended December 31, 2024, was 1,152 million in 2023 [26]. - Net income for the year ended December 31, 2024, increased to 1,157 million in 2023, representing a growth of 2.6% [30]. - The company recorded a loss of 81 million loss in 2023, primarily due to increased interest expenses [17]. Earnings Guidance - Earnings guidance for 2025 is affirmed at a range of 5.05 per diluted share, indicating a projected growth of 6% to 8% compound annual growth rate from 2025 through 2029 [4][10]. Segment Performance - Ameren Missouri's 2024 GAAP earnings were 545 million in 2023, driven by increased infrastructure investments and new electric service rates [13]. - Ameren Transmission's 2024 GAAP earnings increased to 296 million in 2023, reflecting growth from infrastructure investments [14]. - Ameren Illinois Electric Distribution reported 2024 earnings of 258 million in 2023, due to a lower return on equity under the new multi-year rate plan [15]. - Ameren Illinois Natural Gas segment earnings improved to 134 million in 2023, attributed to new delivery service rates and lower expenses [16]. Revenue and Sales - Ameren Corporation reported total operating revenues of 1,618 million for the same period in 2023 [26]. - Total electric sales for Ameren increased to 15,929 million kilowatt-hours in Q4 2024, up from 15,760 million kilowatt-hours in Q4 2023, a growth of 1.1% [33]. - Ameren's total electric revenues for the year reached 6,439 million in 2023, reflecting a year-over-year increase of 1.6% [33]. - Gas revenues for Ameren totaled 1,061 million in 2023, marking a growth of 2.1% [35]. Assets and Liabilities - Total current assets increased to 2,181 million as of December 31, 2023, marking a growth of 3.8% [28]. - Property, Plant, and Equipment, Net rose to 33,776 million in 2023, indicating an increase of 7.5% [28]. - Total assets reached 40,830 million in 2023, reflecting a growth of 9.3% [28]. - Long-term debt increased to 15,121 million in 2023, representing a rise of 14.2% [28]. - The total current liabilities increased to 3,345 million in 2023, showing a rise of 2.0% [28]. Cash Flow and Expenditures - Net cash provided by operating activities rose to 2,564 million in 2023, an increase of 7.8% [30]. - Capital expenditures for the year were 3,597 million in 2023, indicating an increase of 20.0% [30]. - Dividends on common stock increased to 662 million in 2023, a rise of 7.9% [30]. - Cash, cash equivalents, and restricted cash at the end of 2024 were 272 million at the end of 2023, an increase of 20.6% [30]. Other Income and Operating Performance - The company reported operating income of 264 million in the same period of 2023 [26]. - Other income, net for the year ended December 31, 2024, was 348 million in 2023 [26]. - The company reported a decrease in deferred income taxes and production and investment tax credits, net, from 127 million in 2024, a decline of 44.5% [30]. Strategic Initiatives - Ameren's strategy includes investments to modernize the energy grid and enhance cleaner energy resources, focusing on disciplined cost management [11]. - The projected rate base growth is approximately 9.2% compounded annually from 2024 through 2029, supporting future earnings growth [10]. Shareholder Information - The number of shares outstanding increased to 269.9 million in 2024 from 266.3 million in 2023, a growth of 1.4% [35].