Ameren(AEE) ZACKS·2024-08-02 14:26Core 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]