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Ameren Corporation reports developments for a rate-regulated electric and natural gas utility holding company serving customers through Ameren Missouri and Ameren Illinois. Ameren Missouri provides electric generation, transmission and distribution service and natural gas distribution, while Ameren Illinois provides electric transmission and distribution and natural gas distribution. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects in the Midcontinent Independent System Operator.
Recurring news includes earnings results and guidance, infrastructure investment in regulated energy networks, Smart Energy Plan grid upgrades, resource planning, regulatory approvals, severe-weather reliability and restoration, customer usage and weather effects, financing and capital-structure actions, and board and governance updates.
Ameren (NYSE: AEE) reported Q3 2024 GAAP net income of $456 million ($1.70 per diluted share), compared to $493 million ($1.87 per share) in Q3 2023. Adjusted earnings remained stable at $1.87 per share. The company narrowed its 2024 adjusted EPS guidance to $4.55-$4.69 and established 2025 EPS guidance at $4.85-$5.05.
Performance was driven by infrastructure investments and cost management, offset by higher interest expense, lower electric retail sales due to milder temperatures, and a lower ROE at Ameren Illinois Electric Distribution. The company excluded charges related to Rush Island Energy Center settlement and FERC order on MISO's allowed base ROE from adjusted earnings.
Ameren Missouri (NYSE: AEE) received approval to build the $900 million Castle Bluff Energy Center, an 800-MW natural gas facility set to operate in 2027 as a backup energy source. The company also announced the acquisition of three solar facilities - Huck Finn, Boomtown, and Cass County Renewable Energy Centers - for approximately $900 million with a combined capacity of 500 MW. These solar facilities are expected to power 92,000 homes annually by year-end. The company plans additional investments of $6 billion in renewable and dispatchable generation by 2028 as part of its Integrated Resource Plan.
Ameren (NYSE: AEE) has announced its quarterly dividend payments. The board of directors declared a quarterly cash dividend of 67 cents per share on common stock, payable on Dec. 31, 2024, to shareholders of record as of Dec. 11, 2024.
Additionally, Union Electric Company (Ameren Missouri) and Ameren Illinois Company have declared regular quarterly cash dividends on all classes of their preferred stock. For Ameren Missouri, these dividends will be paid on Feb. 15, 2025, to shareholders of record on Jan. 17, 2025. Ameren Illinois will pay its preferred stock dividends on Feb. 3, 2025, to shareholders of record on Jan. 13, 2025.
Ameren (NYSE: AEE) has announced its third quarter 2024 earnings webcast, scheduled for November 7, 2024 at 9 a.m. Central Time. Martin J. Lyons Jr., chairman, president and CEO, and Michael L. Moehn, senior executive vice president and CFO, will lead the discussion with financial analysts. The webcast will be available live on AmerenInvestors.com, with supporting materials posted under 'Events and Presentations' in the 'Investor News and Events' section. A replay will be accessible for one year after the call.
Ameren , based in St. Louis, serves 2.4 million electric customers and over 900,000 natural gas customers across a 64,000-square-mile area through its subsidiaries Ameren Missouri and Ameren Illinois. The company provides various utility services, including electric generation, transmission, and distribution, as well as natural gas distribution.
Ameren Missouri, a subsidiary of Ameren (NYSE: AEE), has priced a public offering of $450 million aggregate principal amount of 5.125% first mortgage bonds due 2055 at 99.881% of their principal amount. The transaction is expected to close on Oct. 7, 2024. The company plans to use the net proceeds to refinance short-term debt and/or fund near-term capital expenditures, with an intention to allocate an equal amount to sustainable projects meeting certain eligibility criteria.
The offering is being managed by Barclays Capital Inc., BofA Securities, Inc., J.P. Morgan Securities , Morgan Stanley & Co. , and KeyBanc Capital Markets Inc. as joint book-running managers. Ameren Missouri, which has been providing electric and gas service for over 100 years, serves 1.2 million electric and 135,000 natural gas customers in central and eastern Missouri.
Ameren (NYSE: AEE) has been recognized as a 'Best Place to Work for Disability Inclusion' for the 10th consecutive year, earning a top score of 100 on the Disability Equality Index. This index is the world's most comprehensive benchmarking tool for Fortune 1000 companies to measure disability inclusion within their organizations.
Ameren's commitment to disability inclusion includes partnerships with the Starkloff Disability Institute and programs like the Dream Big Career Camp. The company also has an employee resource group, Powering Connections for All Abilities (PCAA), which champions disability inclusion and education.
The 2024 Disability Equality Index measured various benchmarks, including employment practices, community engagement, and supplier diversity. In 2024, 542 corporations utilized the index, with top-scoring businesses earning a score of 80 or higher.
Ameren (NYSE: AEE) has announced its quarterly dividend payments for 2024. The board of directors declared a quarterly cash dividend of 67 cents per share on common stock, payable on Sept. 30, 2024, to shareholders of record as of Sept. 11, 2024. Additionally, Union Electric Company (Ameren Missouri) and Ameren Illinois Company have declared regular quarterly cash dividends on all classes of their preferred stock. Ameren Missouri's preferred stock dividends will be paid on Nov. 15, 2024, to shareholders of record on Oct. 18, 2024. Ameren Illinois' preferred stock dividends are set for payment on Nov. 1, 2024, to shareholders of record on Oct. 14, 2024.
Ameren (NYSE: AEE) reported second quarter 2024 net income of $258 million, or $0.97 per diluted share, compared to $237 million, or $0.90 per diluted share, in Q2 2023. The increase was driven by infrastructure investments, higher electric retail sales due to warmer temperatures, and new Ameren Missouri electric service rates. These gains were partially offset by higher interest expenses and operations costs.
For the first six months of 2024, Ameren's net income was $519 million, or $1.95 per diluted share, up from $501 million, or $1.90 per diluted share, in the same period of 2023. The company reaffirmed its 2024 earnings guidance range of $4.52 to $4.72 per diluted share, assuming normal temperatures for the remainder of the year.
Ameren (NYSE: AEE) will host a webcast to discuss its Q2 2024 earnings on August 2, 2024. The event will feature Martin J. Lyons Jr., Chairman, President, and CEO, along with Michael L. Moehn, Senior Executive VP and CFO. The webcast will be available at AmerenInvestors.com, with supporting materials posted under 'Events and Presentations'. A replay will be accessible for one year post-event. Ameren serves 2.4 million electric and over 900,000 natural gas customers through Ameren Missouri and Ameren Illinois. The company operates in a 64,000-square-mile area, focusing on electric generation, transmission, and distribution, as well as natural gas distribution.
On June 28, Ameren Missouri requested a rate adjustment from the Missouri Public Service Commission (PSC), aiming to implement new electric base rates by mid-2025. The adjustment seeks to recover costs from significant system upgrades and cleaner energy investments, ensuring reliability amidst severe weather events. If approved, the average residential customer using 1,011 kWh/month would see a $17 increase. Despite this, rates will remain below Midwest and national averages. Key investments include upgrading infrastructure, adding smart technology, and incorporating new solar energy centers. Ameren Missouri emphasizes improved reliability and offers flexible payment and assistance options for customers managing economic challenges.