Ameren(AEE) ZACKS·2024-11-07 17:06Core Viewpoint - Ameren Corporation reported third-quarter 2024 adjusted earnings of $1.87 per share, missing the Zacks Consensus Estimate of $1.91 by 2.1% and showing a decline from $1.87 per share in the same quarter of 2023 [1] Financial Performance - Total revenues for the quarter were $2.17 billion, reflecting a year-over-year increase of 5.5%, but fell short of the Zacks Consensus Estimate of $2.21 billion by 1.6% [2] - Total operating expenses rose to $1.59 billion, up 9.8% year over year [3] - Cash flow from operating activities was $1.95 billion, down from $2.03 billion a year ago [8] Segment Results - The Ameren Missouri segment reported adjusted earnings of $415 million, with GAAP earnings of $381 million [4] - The Ameren Illinois Electric Distribution segment's earnings decreased to $56 million from $66 million a year ago due to a lower allowed return on equity [4] - The Ameren Illinois Natural Gas segment reported a loss of $10 million, worsening from a loss of $5 million in the prior year [5] - The Ameren Transmission segment's adjusted earnings were $90 million, with GAAP earnings of $100 million, an increase from $86 million in the previous year [6] Financial Condition - As of September 30, 2024, cash and cash equivalents were $17 million, down from $25 million at the end of 2023 [7] - Long-term debt increased to $16.42 billion from $15.12 billion as of December 31, 2023 [7] Guidance - Ameren has lowered its 2024 GAAP earnings guidance to a range of $4.34-$4.48 per share, down from the previous range of $4.52-$4.72 [9] - The company expects adjusted earnings for 2024 to be in the range of $4.55-$4.69, with the Zacks Consensus Estimate at $4.61 per share [9] Zacks Rank - Ameren currently holds a Zacks Rank 2 (Buy) [10]