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ST. LOUIS - Ameren Corporation (NYSE:AEE) reported mixed fourth-quarter results, with earnings falling short of expectations but revenue surpassing estimates. The utility company's stock dipped 1.1% following the announcement.
For the fourth quarter of 2024, Ameren posted adjusted earnings per share of $0.77, missing the analyst consensus of $0.81 by $0.04. However, revenue for the quarter came in at $1.94 billion, slightly above the consensus estimate of $1.92 billion.
The company's Q4 earnings benefited from increased infrastructure investments, lower net Ameren Parent expenses, reduced operations and maintenance costs, and higher electric retail sales at Ameren Missouri. These positive factors were partially offset by higher interest expenses at Ameren Missouri and a lower return on equity at Ameren Illinois Electric Distribution.
For the full year 2024, Ameren reported adjusted earnings per share of $4.63, up from $4.38 in 2023. The company attributed the YoY increase to strong operating performance, execution of its strategy, and disciplined cost management.
Looking ahead, Ameren affirmed its 2025 earnings guidance range of $4.85 to $5.05 per diluted share, in line with the analyst consensus of $4.94. The company also projected a 6% to 8% compound annual growth rate in diluted earnings per share from 2025 through 2029, using the 2025 guidance midpoint as a base.
"We made significant strides in executing our strategy during 2024 for the benefit of our customers, communities, shareholders and the environment," said Martin J. Lyons Jr., chairman, president and chief executive officer of Ameren Corporation.
Ameren's stock price movement of -1.1% suggests a muted market response to the mixed results and affirmed guidance.
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