PR Newswire
ST. LOUIS, Feb. 17, 2022
ST. LOUIS, Feb. 17, 2022 /PRNewswire/ -- Ameren Corporation (NYSE: AEE) today announced 2021 net income attributable to common shareholders of $990 million, or $3.84 per diluted share, compared to 2020 net income attributable to common shareholders of $871 million, or $3.50 per diluted share.
Earnings results for 2021 were driven by strong operating performance and execution of the company's strategy. Higher earnings were the result of increased infrastructure investments across all business segments. Ameren Missouri earnings were positively impacted by higher electric retail sales as the economy continued to recover from the impacts of COVID-19 and new electric service rates effective April 1, 2020. Ameren Illinois Natural Gas earnings increased due to higher delivery service rates effective in late January 2021. Ameren Illinois Electric Distribution earnings benefited from a higher allowed return on equity due to a higher 30-year U.S. Treasury bond yield in 2021 compared to 2020. These favorable factors were partially offset by the amortization of deferred expenses related to the fall 2020 Callaway refueling and maintenance outage at Ameren Missouri, as well as increased operations and maintenance expenses at Ameren Illinois Natural Gas. In addition, Ameren Transmission earnings were negatively impacted by the absence of the benefit from the May 2020 Federal Energy Regulatory Commission (FERC) order addressing the Midcontinent Independent System Operator (MISO) allowed base return on equity and the impact of a March 2021 FERC order addressing the historical recovery of materials and supplies inventories. The earnings comparison also reflected increased interest expense, primarily due to higher long-term debt outstanding at Ameren Parent. Finally, 2021 earnings per share reflected higher weighted-average basic common shares outstanding.
"In 2021, we effectively executed on our strategic plan, which included making significant investments in energy infrastructure to enhance reliability of the energy grid and transition to a cleaner energy future," said Martin J. Lyons, Jr., president and chief executive officer of Ameren Corporation. "Our robust energy infrastructure investment plan focused on delivery of safe, reliable, affordable and cleaner electric and gas services will provide significant long-term value for our customers, communities we serve, shareholders and the environment."
"I am also pleased to report that we continued to focus on sustainability initiatives tied to environmental, social and governance objectives throughout 2021," Lyons said. "The completed acquisition of our 300-megawatt Atchison Renewable Energy Center moved us forward toward our Ameren-wide goal of net-zero carbon emissions by 2050. Our customer satisfaction scores rose and are among the highest of our electric peers in the Midwest. Further, in 2021, Ameren increased spending with diverse suppliers, was recognized by DiversityInc as the nation's top utility for diversity, equity and inclusion and enhanced executive compensation ties to sustainability."
Ameren recorded net income attributable to common shareholders for the three months ended Dec. 31, 2021, of $125 million, or 48 cents per diluted share, compared to net income attributable to common shareholders of $115 million, or 46 cents per diluted share, for the same period in 2020.
The year-over-year increase in fourth quarter 2021 earnings was due to increased infrastructure investments across all of our business segments. Ameren Illinois Natural Gas earnings also benefited from higher delivery service rates effective in late January 2021. Year-over-year improvement also reflected charitable donations returning to a more normal level in 2021. These factors were partially offset by higher operations and maintenance expense at Ameren Missouri and Ameren Illinois natural gas, in addition to lower retail sales at Ameren Missouri driven by milder-than-normal winter temperatures compared to near-normal winter temperatures in the year-ago quarter.
Earnings and Rate Base Guidance
Ameren expects 2022 diluted earnings per share to be in a range of $3.95 to $4.15. Ameren expects diluted earnings per share to grow at a 6% to 8% compound annual rate from 2022 through 2026, using the 2022 guidance range midpoint of $4.05 per share as the base. Ameren's multi-year earnings growth is expected to be driven by strong projected rate base growth of approximately 7% compounded annually from 2021 through 2026.
"We are focused on strong long-term execution of our strategy, which includes investments to modernize the energy grid and transition to a cleaner energy portfolio in a responsible fashion. This, along with our relentless focus on disciplined cost management, will continue to deliver superior value to our customers, the communities we serve, our shareholders and the environment," Lyons said.
Ameren's earnings guidance for 2022 and multi-year growth expectations assume normal temperatures and are subject to the effects of, among other things: the impacts of COVID-19; 30-year U.S. Treasury bond yields; regulatory, judicial and legislative actions; energy center and energy distribution operations; energy, economic, capital and credit market conditions; severe storms; unusual or otherwise unexpected gains or losses; and other risks and uncertainties outlined, or referred to, in the Forward-looking Statements section of this press release.
Ameren Missouri Segment Results
Ameren Missouri 2021 earnings were $518 million, compared to 2020 earnings of $436 million. The year-over-year improvement reflected increased earnings on infrastructure investments, including wind generation, and higher electric retail sales as the economy continues to recover from the impacts of COVID-19. Earnings also increased due to new electric service rates effective April 1, 2020. These favorable factors were partially offset by higher other operations and maintenance expenses, primarily due to the amortization of deferred expenses related to the fall 2020 Callaway refueling and maintenance outage.
Ameren Illinois Electric Distribution Segment Results
Ameren Illinois Electric Distribution 2021 earnings were $165 million, compared to 2020 earnings of $143 million. The year-over-year improvement reflected increased earnings on infrastructure investments and a higher allowed return on equity due to a higher average 30-year U.S. Treasury bond yield in 2021 compared to 2020.
Ameren Illinois Natural Gas Segment Results
Ameren Illinois Natural Gas 2021 earnings were $108 million, compared to 2020 earnings of $99 million. The year-over-year improvement reflected higher delivery services rates effective late January 2021, which incorporated increased infrastructure investments, partially offset by higher other operations and maintenance expenses.
Ameren Transmission Segment Results
Ameren Transmission 2021 earnings were $230 million, compared to 2020 earnings of $216 million. The year-over-year improvement reflected increased earnings on infrastructure investments, partially offset by the absence of the benefit from the May 2020 FERC order addressing the MISO allowed base return on equity and a March 2021 FERC order addressing the historical recovery of materials and supplies inventories.
Ameren Parent Results (includes items not reported in a business segment)
Ameren Parent results for 2021 reflected a loss of $31 million, compared to a 2020 loss of $23 million. The year-over-year comparison reflected increased interest expense, primarily due to higher long-term debt outstanding.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Friday, Feb. 18, to discuss 2021 earnings, earnings guidance and other matters. Investors, the news media and the public may listen to a live broadcast of the call at AmerenInvestors.com by clicking on "Webcast" under "Q4 2021 Earnings Conference Call," where an accompanying slide presentation will also be available. The conference call and presentation will be archived for one year in the "Investor News and Events" section of the website under "Events and Presentations."
About Ameren
St. Louis-based Ameren Corporation powers the quality of life for 2.4 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution service, as well as natural gas distribution service. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects. For more information, visit Ameren.com, or follow us at @AmerenCorp, Facebook.com/AmerenCorp, or LinkedIn/company/Ameren.
Forward-looking Statements
Statements in this release not based on historical facts are considered "forward-looking" and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, projections, strategies, targets, estimates, objectives, events, conditions, and financial performance. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed under Risk Factors in Ameren's Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements:
New factors emerge from time to time, and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events.
AMEREN CORPORATION (AEE) CONSOLIDATED STATEMENT OF INCOME (Unaudited, in millions, except per share amounts) | |||||||
| |||||||
| Three Months Ended | | Year Ended | ||||
| 2021 | | 2020 | | 2021 | | 2020 |
Operating Revenues: | | | | | | | |
Electric | $ 1,189 | | $ 1,065 | | $ 5,297 | | $ 4,911 |
Natural gas | 356 | | 263 | | 1,097 | | 883 |
Total operating revenues | 1,545 | | 1,328 | | 6,394 | | 5,794 |
Operating Expenses: | | | | | | | |
Fuel | 159 | | 90 | | 581 | | 490 |
Purchased power | 127 | | 130 | | 606 | | 513 |
Natural gas purchased for resale | 167 | | 89 | | 442 | | 272 |
Other operations and maintenance | 485 | | 421 | | 1,774 | | 1,661 |
Depreciation and amortization | 290 | | 276 | | 1,146 | | 1,075 |
Taxes other than income taxes | 120 | | 111 | | 512 | | 483 |
Total operating expenses | 1,348 | | 1,117 | | 5,061 | | 4,494 |
Operating Income | 197 | | 211 | | 1,333 | | 1,300 |
Other Income, Net | 51 | | 34 | | 202 Werbung Mehr Nachrichten zur Ameren Aktie kostenlos abonnieren
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