Ameren Corp (AEE) has reported a 10.34 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $32 million, or $0.13 a share in the quarter, compared with $29 million, or $0.12 a share for the same period last year. Revenue during the quarter grew 3.67 percent to $1,356 million from $1,308 million in the previous year period. Gross margin for the quarter expanded 64 basis points over the previous year period to 34.73 percent. Total expenses were 89.31 percent of quarterly revenues, up from 89.30 percent for the same period last year. That has resulted in a contraction of 1 basis points in operating margin to 10.69 percent.
Operating income for the quarter was $145 million, compared with $140 million in the previous year period.
"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."
For financial year 2017, Ameren Corp projects diluted earnings per share to be in the range of $2.65 to $2.85.
Operating cash flow improves marginally
Ameren Corp has generated cash of $2,123 million from operating activities during the year, up 4.53 percent or $92 million, when compared with the last year. The company has spent $2,141 million cash to meet investing activities during the year as against cash outgo of $1,976 million in the last year.
The company has spent $265 million cash to carry out financing activities during the year as against cash inflow of $232 million in the last year period.
Cash and cash equivalents stood at $9 million as on Dec. 31, 2016, down 96.92 percent or $283 million from $292 million on Dec. 31, 2015.
Debt moves up marginally
Ameren Corp has witnessed an increase in total debt over the last one year. It stood at $7,834 million as on Dec. 31, 2016, up 3.41 percent or $258 million from $7,576 million on Dec. 31, 2015. Interest coverage ratio deteriorated to 1.53 for the quarter from 1.54 for the same period last year.
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