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Ameren (NYSE: AEE) Announces 2016 Results and Issues 2017 Earnings Guidance

02/16/2017

- 2016 GAAP Diluted Earnings per Share were $2.68, Compared to $2.59 in 2015
- 2016 Core (Non-GAAP) Diluted EPS were $2.68, Compared to $2.56 in 2015
- 2017 Diluted EPS Guidance Range Established at $2.65 to $2.85

ST. LOUIS, Feb. 16, 2017 /PRNewswire/ -- Ameren Corporation (NYSE: AEE) today announced 2016 net income attributable to common shareholders in accordance with Generally Accepted Accounting Principles (GAAP) of $653 million, or $2.68 per diluted share, compared to $630 million, or $2.59 per diluted share, for 2015. The 2015 GAAP earnings included results from discontinued operations and a loss provision for discontinuing the pursuit of a construction and operating license (COL) for a second nuclear unit at Ameren Missouri's Callaway Energy Center. Excluding these two items, Ameren recorded 2015 core earnings of $622 million, or $2.56 per diluted share.

The year-over-year increase in 2016 earnings reflected increased 2016 electric transmission and distribution infrastructure investments made by Ameren Transmission Company of Illinois (ATXI) and Ameren Illinois under modern, constructive regulatory frameworks. Earnings in 2016 also benefited from higher summer 2016 electric sales to residential and commercial customers driven by warmer temperatures, as well as higher Illinois natural gas distribution rates and 2016 tax impacts associated with share-based compensation. These positive factors were partially offset by lower electric sales to the New Madrid aluminum smelter, the unfavorable comparative impact of the 2015 Missouri energy efficiency plan and 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center compared to no such outage in 2015.

"In 2016, we again delivered solid earnings growth," said Warner L. Baxter, chairman, president and chief executive officer of Ameren Corporation. "Our team continued to successfully execute all elements of our strategy, including allocating capital to jurisdictions with modern, constructive regulatory frameworks, enhancing existing regulatory frameworks in Illinois and managing costs in a disciplined manner."

Ameren recorded GAAP net income attributable to common shareholders for the three months ended Dec. 31, 2016, of $32 million, or 13 cents per diluted share, compared to $29 million, or 12 cents per diluted share, for the same period in 2015. The GAAP results for the three months ended Dec. 31, 2015, included a $1 million loss from discontinued operations. The year-over-year increase in fourth quarter 2016 earnings reflected higher retail electric and gas sales to residential and commercial customers due to near-normal winter temperatures compared to mild temperatures in the fourth quarter of 2015. Earnings in 2016 also reflected increased electric transmission infrastructure investments made by ATXI and Ameren Illinois, as well as a lower effective income tax rate. These factors were partially offset by the unfavorable comparative impact of the 2015 Missouri energy efficiency plan and lower electric sales to the New Madrid smelter.

As reflected in the table below, the following items were excluded from core earnings for the year ended Dec. 31, 2015:

  • Results from discontinued operations, which increased 2015 GAAP net income by $51 million, primarily due to recognition of a tax benefit related to the resolution of an uncertain tax position.
  • A provision for discontinuing pursuit of a COL for a second nuclear unit at Ameren Missouri's Callaway Energy Center, which decreased 2015 net income from continuing operations by $43 million.

A reconciliation of full-year GAAP to core earnings in millions of dollars and per share, is as follows:


Year Ended


Dec. 31,


2016

2015

GAAP Earnings / Diluted EPS

$

653


$

2.68


$

630


$

2.59


Results from discontinued operations





  Operating income before income tax



(1)


(0.01)


  Income tax benefit



(50)


(0.20)


Income from discontinued operations,  net of taxes



(51)


(0.21)







Provision for Callaway COL





  Provision before income tax



69


0.29


  Income tax benefit



(26)


(0.11)


 Provision, net of taxes



43


0.18


Core Earnings / Diluted EPS

$

653


$

2.68


$

622


$

2.56


 

Earnings Guidance

Ameren expects 2017 diluted earnings per share to be in a range of $2.65 to $2.85 and continues to expect diluted earnings per share to grow at a 5% to 8% compound annual rate from 2016 through 2020, driven by projected rate base growth and based on the adjusted 2016 earnings per share guidance midpoint of $2.63 provided in February 2016. Ameren also expects projected rate base growth of 6% compounded annually from 2016 through 2021.

"Looking ahead, we plan to continue to deliver solid long-term earnings per share growth compared to our peers reflecting a robust pipeline of investments in critical energy infrastructure that will deliver long-term benefits to our customers and the communities we serve," Baxter said. "In addition, we will maintain our strong financial discipline by allocating more capital to those jurisdictions with modern, constructive frameworks and will continue to actively engage with policymakers and key stakeholders to implement energy and economic policies that will deliver long-term benefits to our customers and shareholders."

Earnings guidance for 2017 assumes normal temperatures and, along with Ameren's growth expectations, is subject to the effects of, among other things: 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 Reportable Segments

Effective with the fourth quarter of 2016, Ameren now has four reportable segments: Ameren Missouri, Ameren Illinois Electric Distribution, Ameren Illinois Natural Gas and Ameren Transmission. The Ameren Missouri segment includes all of the operations of Ameren Missouri. The Ameren Illinois Electric Distribution segment consists of the electric distribution business of Ameren Illinois. The Ameren Illinois Natural Gas segment consists of the natural gas distribution business of Ameren Illinois. The Ameren Transmission segment is composed of the electric transmission businesses of Ameren Illinois and ATXI. The Other category includes all activities not included in the four reportable segments.

Ameren Missouri Segment Results

Ameren Missouri segment 2016 GAAP and core earnings were $357 million, compared to 2015 GAAP and core earnings of $352 million and $395 million, respectively. GAAP earnings in 2015 included the provision for the Callaway COL, but this item was excluded from core earnings. The decrease in year-over-year core earnings reflected lower electric sales to the New Madrid smelter, the unfavorable comparative impact of the 2015 energy efficiency plan, 2016 nuclear refueling and maintenance outage expenses at the Callaway Energy Center compared to no such outage in 2015, as well as higher depreciation expense. These unfavorable factors were partially offset by higher 2016 electric sales to residential and commercial customers primarily driven by warmer summer temperatures, as well as lower other operations and maintenance and financing expenses.

Ameren Illinois Electric Distribution Segment Results

Ameren Illinois Electric Distribution segment 2016 earnings were $126 million, compared to 2015 earnings of $123 million. The year-over-year earnings improvement reflected increased infrastructure investments, as well as higher electric sales driven by warmer summer temperatures. These positive factors were partially offset by a reduced allowed return on equity due to lower 30-year U.S. Treasury bond yields and by the absence in 2016 of an Illinois Commerce Commission (ICC) order approving recovery of cumulative power usage costs in 2015.

Ameren Illinois Natural Gas Segment Results

Ameren Illinois Natural Gas segment 2016 earnings were $59 million, compared to 2015 earnings of $37 million. The year-over-year earnings improvement reflected higher natural gas distribution rates authorized in a December 2015 ICC order, which incorporated 2016 energy infrastructure investments and a higher allowed return on equity.

Ameren Transmission Segment Results

Ameren Transmission segment 2016 earnings were $117 million, compared to 2015 earnings of $83 million. The year-over-year earnings improvement reflected increased infrastructure investments and a higher average allowed return on equity.

Other Results from Continuing Operations

Results for the Other category for 2016 were a loss of $6 million, compared to a loss of $16 million for 2015. This reduced year-over-year loss reflected a decrease in the effective income tax rate, which was primarily due to the recognition of 2016 tax benefits of $21 million associated with share-based compensation. This positive factor was partially offset by increased parent company interest charges resulting from the November 2015 issuance of $700 million of senior notes that replaced lower-cost, short-term debt.

Analyst Conference Call

Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Thursday, Feb. 16, to discuss 2016 earnings, earnings guidance and growth expectations, and regulatory and other matters. Investors, the news media and the public may listen to a live Internet broadcast of the call at Amereninvestors.com by clicking on the Q4 2016 "Webcast," where an accompanying slide presentation will also be available. The conference call and presentation will be archived in the "Investors 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 and natural gas transmission and distribution service while Ameren Missouri provides vertically integrated electric service, with generating capacity of over 10,200 megawatts, and natural gas distribution service. Ameren Transmission Company of Illinois develops regional electric transmission projects. Follow the company on Twitter @AmerenCorp. For more information, visit Ameren.com.

Use of Non-GAAP Financial Measures

In this release, Ameren has presented core earnings, which is a non-GAAP measure and may not be comparable to those of other companies. A reconciliation of GAAP to non-GAAP results has been included in this release. Generally, core earnings or losses include earnings or losses attributable to Ameren common shareholders and exclude income or loss from discontinued operations and income or loss from significant discrete items that management does not consider representative of ongoing earnings, such as the Callaway COL provision. Ameren uses core earnings internally for financial planning and for analysis of performance. Ameren also uses core earnings as the primary performance measurement when communicating with analysts and investors regarding our earnings results and outlook, as the company believes that core earnings allow the company to more accurately compare its ongoing performance across periods. In providing core earnings guidance, there could be differences between core earnings and earnings prepared in accordance with GAAP as a result of our treatment of certain items, such as those described above. Ameren is unable to estimate the impact, if any, on future GAAP earnings of such items.

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, strategies, 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 within Risk Factors in Ameren's Annual Report on Form 10-K for the year ended December 31, 2015, 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:

  • regulatory, judicial, or legislative actions, including any federal income tax reform and changes in regulatory policies and ratemaking determinations, such as those that may result from the complaint case filed in February 2015 with the Federal Energy Regulatory Commission seeking a reduction in the allowed base return on common equity under the Midcontinent Independent System Operator tariff, Ameren Missouri's July 2016 electric rate case filing, and future regulatory, judicial, or legislative actions that change regulatory recovery mechanisms;
  • the effect of Ameren Illinois' participating in a performance-based formula ratemaking process under the Illinois Energy Infrastructure Modernization Act (IEIMA), including the direct relationship between Ameren Illinois' return on common equity and 30-year United States Treasury bond yields, and the related financial commitments required by the IEIMA;
  • our ability to align our overall spending, both operating and capital, with frameworks established by our regulators in our attempt to earn our allowed return on equity;
  • the effects of changes in federal, state, or local laws and other governmental actions, including monetary, fiscal, and energy policies;
  • the effects of changes in federal, state, or local tax laws, regulations, interpretations, or rates and any challenges to the tax positions we have taken;
  • the effects on demand for our services resulting from technological advances, including advances in customer energy efficiency and private generation sources, which generate electricity at the site of consumption and are becoming more cost-competitive;
  • the effectiveness of Ameren Missouri's customer energy efficiency programs and the related revenues and performance incentives earned under its MEEIA plans;
  • the effect of the Illinois Future Energy Jobs Act on Ameren Illinois, including on the allowed return earned on its customer energy efficiency investments and its ability to achieve the electric energy efficiency saving goals established by the Illinois Future Energy Jobs Act;
  • the timing of increasing capital expenditure and operating expense requirements and our ability to recover these costs in a timely manner;
  • the cost and availability of fuel, such as ultra-low-sulfur coal, natural gas, and enriched uranium used to produce electricity; the cost and availability of purchased power and natural gas for distribution; and the level and volatility of future market prices for such commodities, including our ability to recover the costs for such commodities and our customers' tolerance for the related rate increases;
  • disruptions in the delivery of fuel, failure of our fuel suppliers to provide adequate quantities or quality of fuel, or lack of adequate inventories of fuel, including ultra-low-sulfur coal used for Ameren Missouri's compliance with environmental regulations;
  • the effectiveness of our risk management strategies and our use of financial and derivative instruments;
  • the ability to obtain sufficient insurance, including insurance for Ameren Missouri's Callaway Energy Center, or, in the absence of insurance, the ability to recover uninsured losses from our customers;
  • business and economic conditions, including their impact on interest rates, collection of our receivable balances, and demand for our products;
  • suspended operations at the New Madrid smelter, and the resulting impacts to Ameren Missouri's ability to recover its revenue requirement in its July 2016 electric rate case and future rate cases to accurately reflect the New Madrid smelter's actual sales volumes;
  • disruptions of the capital markets, deterioration in our credit metrics, or other events that may have an adverse effect on the cost or availability of capital, including short-term credit and liquidity;
  • the actions of credit rating agencies and the effects of such actions;
  • the impact of adopting new accounting guidance and the application of appropriate accounting rules and guidance;
  • the impact of weather conditions and other natural phenomena on us and our customers, including the impact of system outages;
  • the construction, installation, performance, and cost recovery of generation, transmission, and distribution assets;
  • the effects of breakdowns or failures of equipment in the operation of natural gas transmission and distribution systems and storage facilities, such as leaks, explosions and mechanical problems, and compliance with natural gas safety regulations;
  • the effects of our increasing investment in electric transmission projects, our ability to obtain all of the necessary approvals to complete the projects, and the uncertainty as to whether we will achieve our expected returns in a timely manner;
  • operation of Ameren Missouri's Callaway Energy Center, including planned and unplanned outages, and decommissioning costs;
  • the effects of strategic initiatives, including mergers, acquisitions and divestitures;
  • the impact of current environmental regulations and new, more stringent, or changing requirements, including those related to carbon dioxide, other emissions and discharges, cooling water intake structures, coal combustion residuals, and energy efficiency, that are enacted over time and that could limit or terminate the operation of certain of Ameren Missouri's energy centers, increase our costs or investment requirements, result in an impairment of our assets, cause us to sell our assets, reduce our customers' demand for electricity or natural gas, or otherwise have a negative financial effect;
  • the impact of complying with renewable energy portfolio requirements in Missouri;
  • labor disputes, work force reductions, future wage and employee benefits costs, including changes in discount rates, mortality tables, and returns on benefit plan assets;
  • the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments;
  • the cost and availability of transmission capacity for the energy generated by Ameren Missouri's energy centers or required to satisfy Ameren Missouri's energy sales;
  • legal and administrative proceedings;
  • the impact of cyber attacks, which could result in the loss of operational control of energy centers and electric and natural gas transmission and distribution systems and/or the loss of data, such as customer data and account information; and
  • acts of sabotage, war, terrorism, or other intentionally disruptive acts.

New factors emerge from time to time. Management cannot predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any such 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
December 31,


Year Ended
December 31,


2016


2015


2016


2015

Operating Revenues:








Electric

$

1,095



$

1,087



$

5,196



$

5,180


Natural gas

261



221



880



918


Total operating revenues

1,356



1,308



6,076



6,098


Operating Expenses:








Fuel

171



208



745



878


Purchased power

170



121



621



514


Natural gas purchased for resale

114



95



341



415


Other operations and maintenance

430



438



1,676



1,694


Provision for Callaway construction and operating license







69


Depreciation and amortization

217



202



845



796


Taxes other than income taxes

109



104



467



473


Total operating expenses

1,211



1,168



4,695



4,839


Operating Income

145



140



1,381



1,259


Other Income and Expenses:








Miscellaneous income

20



20



74



74


Miscellaneous expense

11



8



32



30


Total other income

9



12



42



44


Interest Charges

95



91



382



355


Income Before Income Taxes

59



61



1,041



948


Income Taxes

26



30



382



363


Income from Continuing Operations

33



31



659



585


Income (Loss) from Discontinued Operations, Net of Taxes



(1)





51


Net Income

33



30



659



636


Less: Net Income from Continuing Operations Attributable to Noncontrolling Interests

1



1



6



6


Net Income (Loss) Attributable to Ameren Common Shareholders:








Continuing Operations

32



30



653



579


Discontinued Operations



(1)





51


Net Income Attributable to Ameren Common Shareholders

$

32



$

29



$

653



$

630


Earnings per Common Share – Basic:








Continuing Operations

$

0.13



$

0.12



$

2.69



$

2.39


Discontinued Operations







0.21


Earnings per Common Share – Basic

$

0.13



$

0.12



$

2.69



$

2.60










Earnings per Common Share – Diluted:








Continuing Operations

$

0.13



$

0.12



$

2.68



$

2.38


Discontinued Operations







0.21


Earnings per Common Share – Diluted

$

0.13



$

0.12



$

2.68



$

2.59










Average Common Shares Outstanding – Basic

242.6



242.6



242.6



242.6


Average Common Shares Outstanding – Diluted

244.7



243.0



243.4



243.6


 

AMEREN CORPORATION (AEE)
CONSOLIDATED BALANCE SHEET
(Unaudited, in millions)



December 31,
2016


December 31,
2015

ASSETS




Current Assets:




Cash and cash equivalents

$

9



$

292


Accounts receivable - trade (less allowance for doubtful accounts)

437



388


Unbilled revenue

295



239


Miscellaneous accounts and notes receivable

63



98


Inventories

527



538


Current regulatory assets

149



260


Other current assets

98



88


Assets of discontinued operations

15



14


Total current assets

1,593



1,917


Property, Plant, and Equipment, Net

20,113



18,799


Investments and Other Assets:




Nuclear decommissioning trust fund

607



556


Goodwill

411



411


Regulatory assets

1,437



1,382


Other assets

538



575


Total investments and other assets

2,993



2,924


TOTAL ASSETS

$

24,699



$

23,640


LIABILITIES AND EQUITY




Current Liabilities:




Current maturities of long-term debt

$

681



$

395


Short-term debt

558



301


Accounts and wages payable

805



777


Taxes accrued

46



43


Interest accrued

93



89


Customer deposits

107



100


Current regulatory liabilities

110



80


Other current liabilities

248



279


Liabilities of discontinued operations

26



29


Total current liabilities

2,674



2,093


Long-term Debt, Net

6,595



6,880


Deferred Credits and Other Liabilities:




Accumulated deferred income taxes, net

4,264



3,885


Accumulated deferred investment tax credits

55



60


Regulatory liabilities

1,985



1,905


Asset retirement obligations

635



618


Pension and other postretirement benefits

769



580


Other deferred credits and liabilities

477



531


Total deferred credits and other liabilities

8,185



7,579


Ameren Corporation Shareholders' Equity:




Common stock

2



2


Other paid-in capital, principally premium on common stock

5,556



5,616


Retained earnings

1,568



1,331


Accumulated other comprehensive loss

(23)



(3)


Total Ameren Corporation shareholders' equity

7,103



6,946


Noncontrolling Interests

142



142


Total equity

7,245



7,088


TOTAL LIABILITIES AND EQUITY

$

24,699



$

23,640


 

AMEREN CORPORATION (AEE)
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in millions)




Year Ended December 31,


2016


2015

Cash Flows From Operating Activities:




Net income

$

659



$

636


Income from discontinued operations, net of tax



(51)


Adjustments to reconcile net income to net cash provided by operating activities:




Provision for Callaway construction and operating license



69


Depreciation and amortization

835



777


Amortization of nuclear fuel

88



97


Amortization of debt issuance costs and premium/discounts

22



22


Deferred income taxes and investment tax credits, net

386



369


Allowance for equity funds used during construction

(27)



(30)


Share-based compensation costs

17



24


Other

4



(10)


Changes in assets and liabilities

140



132


Net cash provided by operating activities – continuing operations

2,124



2,035


Net cash used in operating activities – discontinued operations

(1)



(4)


Net cash provided by operating activities

2,123



2,031


Cash Flows From Investing Activities:




Capital expenditures

(2,076)



(1,917)


Nuclear fuel expenditures

(55)



(52)


Purchases of securities – nuclear decommissioning trust fund

(392)



(363)


Sales and maturities of securities – nuclear decommissioning trust fund

377



349


Proceeds from note receivable – Illinois Power Marketing Company



20


Contributions to note receivable – Illinois Power Marketing Company



(8)


Other

5



20


Net cash used in investing activities – continuing operations

(2,141)



(1,951)


Net cash used in investing activities – discontinued operations



(25)


Net cash used in investing activities

(2,141)



(1,976)


Cash Flows From Financing Activities:




Dividends on common stock

(416)



(402)


Dividends paid to noncontrolling interest holders

(6)



(6)


Short-term debt, net

257



(413)


Maturities of long-term debt

(395)



(120)


Issuances of long-term debt

389



1,197


Capital issuance costs

(9)



(12)


Share-based payments

(83)



(12)


Other

(2)




Net cash provided by (used in) financing activities – continuing operations

(265)



232


Net change in cash and cash equivalents

(283)



287


Cash and cash equivalents at beginning of year

292



5


Cash and cash equivalents at end of year – continuing operations

$

9



$

292


 

AMEREN CORPORATION (AEE)
OPERATING STATISTICS FROM CONTINUING OPERATIONS






Three Months Ended


Twelve Months Ended


December 31,


December 31,


2016


2015


2016


2015

Electric Sales - kilowatthours (in millions):








Ameren Missouri








Residential

3,002



2,717



13,245



12,903


Commercial

3,443



3,320



14,712



14,574


Industrial

1,107



2,021



4,790



8,273


Off-system and other

2,101



1,906



7,250



7,506


Ameren Missouri total

9,653



9,964



39,997



43,256


Ameren Illinois Electric Distribution








Residential








Power supply and delivery service

1,105



1,034



4,652



4,797


Delivery service only

1,506



1,487



6,860



6,757


Commercial








Power supply and delivery service

693



663



2,861



2,837


Delivery service only

2,430



2,290



9,722



9,443


Industrial








Power supply and delivery service

214



259



708



1,589


Delivery service only

2,629



2,524



11,030



10,274


Other

131



130



521



524


Ameren Illinois Electric Distribution total

8,708



8,387



36,354



36,221


Eliminate affiliate sales

(126)



(179)



(520)



(385)


Ameren total

18,235



18,172



75,831



79,092


Electric Revenues (in millions):








Ameren Missouri








Residential

$

268



$

285



$

1,421



$

1,464


Commercial

241



254



1,223



1,258


Industrial

64



99



315



469


Off-system and other

139



80



435



279


Ameren Missouri total

$

712



$

718



$

3,394



$

3,470


Ameren Illinois Electric Distribution








Residential








Power supply and delivery service

$

108



$

113



$

484



$

495


Delivery service only

77



75



410



363


Commercial








Power supply and delivery service

58



59



251



247


Delivery service only

57



50



267



227


Industrial








Power supply and delivery service

11



12



34



71


Delivery service only

15



13



62



53


Other

10



12



41



76


Ameren Illinois Electric Distribution total

$

336



$

334



$

1,549



$

1,532


Ameren Transmission








Ameren Illinois Transmission(a)

$

45



$

39



$

232



$

189


       ATXI

27



14



123



70


Ameren Transmission total

$

72



$

53



$

355



$

259


Other and intersegment eliminations

(25)



(18)



(102)



(81)


Ameren total

$

1,095



$

1,087



$

5,196



$

5,180




(a)   

Includes $9 million, $6 million, $45 million and $38 million, respectively, of electric operating revenues from transmission services      provided to the Ameren Illinois Electric Distribution segment.

 

AMEREN CORPORATION (AEE)
OPERATING STATISTICS FROM CONTINUING OPERATIONS






Three Months Ended


Twelve Months Ended


December 31,


December 31,


2016


2015


2016


2015

Gas Sales - dekatherms (in millions):








Ameren Missouri

5



5



18



18


Ameren Illinois Natural Gas

49



41



166



165


Ameren total

54



46



184



183


Gas Revenues (in millions):








Ameren Missouri

$

38



$

36



$

128



$

137


Ameren Illinois Natural Gas

224



186



754



783


Eliminate affiliate revenues

(1)



(1)



(2)



(2)


Ameren total

$

261



$

221



$

880



$

918





December 31,
2016




December 31,
2015

Common Stock:








Shares outstanding (in millions)



242.6





242.6


Book value per share



$

29.28





$

28.63










 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ameren-nyse-aee-announces-2016-results-and-issues-2017-earnings-guidance-300408744.html

SOURCE Ameren Corporation

Media, Joe Muehlenkamp, 314.554.4135, jmuehlenkamp@ameren.com; Analysts, Doug Fischer, 314.554.4859, dfischer@ameren.com, or Andrew Kirk, 314.554.3942, akirk@ameren.com; Individual Investors, Investor Services, 800.255.2237, invest@ameren.com