
Ameren Announces Second Quarter 2024 Results
AMEREN CORPORATION (AEE) CONSOLIDATED STATEMENT OF INCOME (Unaudited, in millions, except per share amounts) |
|||||||
|
|||||||
|
Three Months Ended June |
|
Six Months Ended June |
||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Operating Revenues: |
|
|
|
|
|
|
|
Electric |
$ |
|
$ |
|
$ |
|
$ |
Natural gas |
172 |
|
175 |
|
624 |
|
647 |
Total operating revenues |
1,693 |
|
1,760 |
|
3,509 |
|
3,822 |
Operating Expenses: |
|
|
|
|
|
|
|
Fuel and purchased power |
327 |
|
480 |
|
655 |
|
1,088 |
Natural gas purchased for resale |
33 |
|
42 |
|
184 |
|
250 |
Other operations and maintenance |
465 |
|
450 |
|
935 |
|
898 |
Depreciation and amortization |
376 |
|
335 |
|
737 |
|
655 |
Taxes other than income taxes |
131 |
|
124 |
|
266 |
|
251 |
Total operating expenses |
1,332 |
|
1,431 |
|
2,777 |
|
3,142 |
Operating Income |
361 |
|
329 |
|
732 |
|
680 |
Other Income, Net |
103 |
|
82 |
|
192 |
|
160 |
Interest Charges |
165 |
|
134 |
|
319 |
|
261 |
Income Before Income Taxes |
299 |
|
277 |
|
605 |
|
579 |
Income Taxes |
39 |
|
38 |
|
83 |
|
75 |
Net Income |
260 |
|
239 |
|
522 |
|
504 |
Less: Net Income Attributable to Noncontrolling Interests |
2 |
|
2 |
|
3 |
|
3 |
Net Income Attributable to Ameren Common Shareholders |
$ |
|
$ |
|
$ |
|
$ |
|
|
|
|
|
|
|
|
Earnings per Common Share – Basic |
$ |
|
$ |
|
$ |
|
$ |
|
|
|
|
|
|
|
|
Earnings per Common Share – Diluted |
$ |
|
$ |
|
$ |
|
$ |
|
|
|
|
|
|
|
|
Weighted-average Common Shares Outstanding – Basic |
266.7 |
|
262.6 |
|
266.5 |
|
262.4 |
Weighted-average Common Shares Outstanding – Diluted |
266.8 |
|
263.2 |
|
266.8 |
|
263.2 |
AMEREN CORPORATION (AEE) CONSOLIDATED BALANCE SHEET (Unaudited, in millions) |
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|
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|
June 30, 2024 |
|
December 31, 2023 |
ASSETS |
|
|
|
Current Assets: |
|
|
|
Cash and cash equivalents |
$ |
|
$ |
Accounts receivable - trade (less allowance for doubtful accounts) |
514 |
|
494 |
Unbilled revenue |
407 |
|
319 |
Miscellaneous accounts receivable |
62 |
|
106 |
Inventories |
740 |
|
733 |
Current regulatory assets |
345 |
|
365 |
Other current assets |
130 |
|
139 |
Total current assets |
2,217 |
|
2,181 |
Property, Plant, and Equipment, Net |
34,873 |
|
33,776 |
Investments and Other Assets: |
|
|
|
Nuclear decommissioning trust fund |
1,266 |
|
1,150 |
Goodwill |
411 |
|
411 |
Regulatory assets |
1,952 |
|
1,810 |
Pension and other postretirement benefits |
566 |
|
581 |
Other assets |
1,049 |
|
921 |
Total investments and other assets |
5,244 |
|
4,873 |
TOTAL ASSETS |
$ |
|
$ |
LIABILITIES AND EQUITY |
|
|
|
Current Liabilities: |
|
|
|
Current maturities of long-term debt |
$ |
|
$ |
Short-term debt |
691 |
|
536 |
Accounts and wages payable |
774 |
|
1,136 |
Interest accrued |
177 |
|
147 |
Customer deposits |
197 |
|
176 |
Other current liabilities |
655 |
|
501 |
Total current liabilities |
3,293 |
|
3,345 |
Long-term Debt, Net |
16,280 |
|
15,121 |
Deferred Credits and Other Liabilities: |
|
|
|
Accumulated deferred income taxes and tax credits, net |
4,325 |
|
4,176 |
Regulatory liabilities |
5,531 |
|
5,512 |
Asset retirement obligations |
791 |
|
772 |
Other deferred credits and liabilities |
446 |
|
426 |
Total deferred credits and other liabilities |
11,093 |
|
10,886 |
Shareholders' Equity: |
|
|
|
Common stock |
3 |
|
3 |
Other paid-in capital, principally premium on common stock |
7,246 |
|
7,216 |
Retained earnings |
4,299 |
|
4,136 |
Accumulated other comprehensive loss |
(9) |
|
(6) |
Total shareholders' equity |
11,539 |
|
11,349 |
Noncontrolling Interests |
129 |
|
129 |
Total equity |
11,668 |
|
11,478 |
TOTAL LIABILITIES AND EQUITY |
$ |
|
$ |
AMEREN CORPORATION (AEE) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited, in millions) |
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|
Six Months Ended June |
||
|
2024 |
|
2023 |
Cash Flows From Operating Activities: |
|
|
|
Net income |
$ |
|
$ |
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
Depreciation and amortization |
760 |
|
703 |
Amortization of nuclear fuel |
38 |
|
36 |
Amortization of debt issuance costs and premium/discounts |
9 |
|
8 |
Deferred income taxes and investment tax credits, net |
76 |
|
66 |
Allowance for equity funds used during construction |
(25) |
|
(23) |
Stock-based compensation costs |
14 |
|
14 |
Other |
13 |
|
(19) |
Changes in assets and liabilities |
(358) |
|
(178) |
Net cash provided by operating activities |
1,049 |
|
1,111 |
Cash Flows From Investing Activities: |
|
|
|
Capital expenditures |
(1,892) |
|
(1,822) |
Nuclear fuel expenditures |
(37) |
|
(50) |
Purchases of securities – nuclear decommissioning trust fund |
(323) |
|
(81) |
Sales and maturities of securities – nuclear decommissioning trust fund |
309 |
|
65 |
Other |
11 |
|
(1) |
Net cash used in investing activities |
(1,932) |
|
(1,889) |
Cash Flows From Financing Activities: |
|
|
|
Dividends on common stock |
(356) |
|
(330) |
Dividends paid to noncontrolling interest holders |
(3) |
|
(3) |
Short-term debt, net |
156 |
|
260 |
Maturities of long-term debt |
(350) |
|
(100) |
Issuances of long-term debt |
1,470 |
|
997 |
Issuances of common stock |
21 |
|
16 |
Employee payroll taxes related to stock-based compensation |
(8) |
|
(20) |
Debt issuance costs |
(18) |
|
(9) |
Other |
- |
|
(3) |
Net cash provided by financing activities |
912 |
|
808 |
Net change in cash, cash equivalents, and restricted cash |
29 |
|
30 |
Cash, cash equivalents, and restricted cash at beginning of year(a) |
272 |
|
216 |
Cash, cash equivalents, and restricted cash at end of period(b) |
$ |
|
$ |
|
|
(a) |
Includes $25 million of cash and cash equivalents and $247 million of restricted cash as of December 31, 2023. |
(b) |
Includes $19 million of cash and cash equivalents and $282 million of restricted cash as of June 30, 2024. |
AMEREN CORPORATION (AEE) OPERATING STATISTICS |
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|
Three Months Ended |
|
Six Months Ended |
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|
June |
|
June |
||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Electric Sales - kilowatthours (in millions): |
|
|
|
|
|
|
|
Ameren Missouri |
|
|
|
|
|
|
|
Residential |
2,995 |
|
2,838 |
|
6,472 |
|
6,251 |
Commercial |
3,386 |
|
3,302 |
|
6,657 |
|
6,504 |
Industrial |
1,046 |
|
1,003 |
|
2,005 |
|
1,939 |
Street lighting and public authority |
14 |
|
15 |
|
33 |
|
35 |
Ameren Missouri retail load subtotal |
7,441 |
|
7,158 |
|
15,167 |
|
14,729 |
Off-system |
1,484 |
|
1,217 |
|
2,615 |
|
2,271 |
Ameren Missouri total |
8,925 |
|
8,375 |
|
17,782 |
|
17,000 |
Ameren Illinois Electric Distribution |
|
|
|
|
|
|
|
Residential |
2,582 |
|
2,367 |
|
5,333 |
|
5,063 |
Commercial |
2,791 |
|
2,744 |
|
5,547 |
|
5,570 |
Industrial |
2,712 |
|
2,668 |
|
5,390 |
|
5,279 |
Street lighting and public authority |
100 |
|
92 |
|
198 |
|
199 |
Ameren Illinois Electric Distribution total |
8,185 |
|
7,871 |
|
16,468 |
|
16,111 |
Ameren Total |
17,110 |
|
16,246 |
|
34,250 |
|
33,111 |
Electric Revenues (in millions): |
|
|
|
|
|
|
|
Ameren Missouri |
|
|
|
|
|
|
|
Residential |
$ |
|
$ |
|
$ |
|
$ |
Commercial |
324 |
|
311 |
|
583 |
|
558 |
Industrial |
77 |
|
75 |
|
138 |
|
136 |
Other, including street lighting and public authority |
21 |
|
27 |
|
45 |
|
57 |
Ameren Missouri retail load subtotal |
$ |
|
$ |
|
$ |
|
$ |
Off-system sales and capacity |
47 |
|
145 |
|
76 |
|
324 |
Ameren Missouri total |
$ |
|
$ |
|
$ |
|
$ |
Ameren Illinois Electric Distribution |
|
|
|
|
|
|
|
Residential |
$ |
|
$ |
|
$ |
|
$ |
Commercial |
163 |
|
193 |
|
328 |
|
393 |
Industrial |
47 |
|
48 |
|
92 |
|
96 |
Other, including street lighting and public authority |
(12) |
|
(38) |
|
(13) |
|
(44) |
Ameren Illinois Electric Distribution total |
$ |
|
$ |
|
$ |
|
$ |
Ameren Transmission |
|
|
|
|
|
|
|
Ameren Illinois Transmission(a) |
$ |
|
$ |
|
$ |
|
$ |
|
55 |
|
48 |
|
110 |
|
97 |
Eliminate affiliate revenues |
- |
|
- |
|
(1) |
|
- |
Ameren Transmission total |
$ |
|
$ |
|
$ |
|
$ |
Other and intersegment eliminations(a) |
(43) |
|
(34) |
|
(84) |
|
(72) |
Ameren Total |
$ |
|
$ |
|
$ |
|
$ |
|
|
(a) |
Includes $27 million, $26 million, $55 million, and $54 million, respectively, of electric operating revenues from transmission services provided to the Ameren Illinois Electric Distribution segment. |
AMEREN CORPORATION (AEE) OPERATING STATISTICS |
|||||||
|
|||||||
|
Three Months Ended |
|
Six Months Ended |
||||
|
June |
|
June |
||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Gas Sales - dekatherms (in millions): |
|
|
|
|
|
|
|
Ameren Missouri |
3 |
|
3 |
|
11 |
|
11 |
Ameren Illinois Natural Gas |
28 |
|
30 |
|
88 |
|
90 |
Ameren Total |
31 |
|
33 |
|
99 |
|
101 |
Gas Revenues (in millions): |
|
|
|
|
|
|
|
Ameren Missouri |
$ |
|
$ |
|
$ |
|
$ |
Ameren Illinois Natural Gas |
148 |
|
152 |
|
539 |
|
543 |
Eliminate affiliate revenues |
- |
|
- |
|
- |
|
(1) |
Ameren Total |
$ |
|
$ |
|
$ |
|
$ |
|
|
|
June 30, |
|
|
|
December 31, |
|
|
|
2024 |
|
|
|
2023 |
Common Stock: |
|
|
|
|
|
|
|
Shares outstanding (in millions) |
|
|
266.8 |
|
|
|
266.3 |
Book value per share |
|
|
$ |
|
|
|
$ |
SOURCE Ameren Corporation

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