- Third Quarter Diluted Earnings Per Share were $1.87 in 2023 vs. $1.74 in 2022
- Guidance Range for 2023 Narrowed to $4.30 to $4.45 per
Diluted Share from $4.25 to
$4.45
ST.
LOUIS, Nov. 8, 2023 /PRNewswire/ -- Ameren
Corporation (NYSE: AEE) today announced third quarter 2023 net
income attributable to common shareholders of $493 million, or $1.87 per diluted share, compared to third
quarter 2022 net income attributable to common shareholders of
$452 million, or $1.74 per diluted share.
Third quarter 2023 results reflected earnings on increased
infrastructure investments made across all business segments driven
by strong execution of the company's strategy. Earnings were
positively impacted by new Ameren Missouri electric service rates
effective July 9, 2023. Ameren
Illinois Electric Distribution earnings increased as a result of a
higher allowed return on equity (ROE) due to higher projected
average annual 30-year U.S. Treasury bond yields in 2023. Ameren
Parent earnings benefited from lower income tax expense due,
in part, to the effect of favorable market returns on company-owned
life insurance (COLI) investments. These favorable factors were
partially offset by the absence of an energy efficiency performance
incentive at Ameren Missouri compared to the year-ago quarter and
by increased interest expense at Ameren Parent, primarily due to
higher short-term debt rates. Finally, 2023 earnings per share
reflected higher weighted-average basic common shares
outstanding.
"Execution of our strategy, including significant investments in
energy infrastructure, continues to drive value for our customers,"
said Martin J. Lyons, Jr., chairman,
president and chief executive officer of Ameren Corporation. "In
addition, due to strong year to date performance, we are narrowing
our 2023 earnings per share guidance range to $4.30 to $4.45."
"We remain focused on sustainability for the benefit of all
stakeholders. This includes delivering safe, reliable and
affordable electric and natural gas services to our customers while
executing a growth strategy tied to a responsible clean energy
transition," added Lyons. "Our 2023 Ameren Missouri Integrated
Resource Plan outlines our least-cost approach to reliably meet
customers' rising energy needs in an environmentally responsible
manner."
Ameren recorded net income attributable to common shareholders
for the nine months ended September 30,
2023, of $994 million, or
$3.78 per diluted share, compared to
net income attributable to common shareholders for the nine months
ended September 30, 2022, of
$911 million, or $3.51 per diluted share.
The increase in year-over-year nine month earnings reflected
increased infrastructure investments made across all business
segments. Earnings were positively impacted by new Ameren Missouri
electric service rates effective July 9,
2023. Earnings were also favorably impacted by lower Ameren
Missouri and Ameren Illinois Natural Gas operations and maintenance
expenses, which included the effect of favorable market returns on
COLI investments. Ameren Illinois Electric Distribution earnings
increased as a result of a higher allowed ROE due to a higher
projected average annual 30-year U.S. Treasury bond yield in 2023.
In addition, Ameren Parent earnings benefited from lower income tax
expense due, in part, to the effect of favorable market returns on
COLI investments. These factors were partially offset by lower
Ameren Missouri electric retail sales, primarily driven by weather,
and increased interest expense at Ameren Missouri and Ameren
Parent. Finally, 2023 earnings per share reflected higher
weighted-average basic common shares outstanding.
Earnings Guidance
Today, Ameren narrowed its 2023 earnings guidance range to
$4.30 to $4.45 per diluted share compared to the prior
range of $4.25 to $4.45 per diluted share. Earnings guidance for
2023 assumes normal temperatures for the last three months of the
year and 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 and capital 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 third quarter 2023 earnings were $411 million, compared to third quarter 2022
earnings of $397 million. The
year-over-year improvement reflected earnings on increased
infrastructure investments and new electric service rates effective
July 9, 2023. These factors were
partially offset by the absence of an energy efficiency performance
incentive and lower electric retail sales. Earnings were also lower
due to higher operations and maintenance expenses primarily due to
storms and increased interest expense.
Ameren Illinois Electric Distribution Segment Results
Ameren Illinois Electric Distribution third quarter 2023
earnings were $66 million, compared
to third quarter 2022 earnings of $51
million. The year-over-year improvement reflected earnings
on increased infrastructure investments and a higher allowed ROE
based on a higher projected average annual 30-year U.S. Treasury
bond yield in 2023.
Ameren Illinois Natural Gas Segment Results
Ameren Illinois Natural Gas third quarter 2023 reflected a loss
of $5 million, compared to third
quarter 2022 loss of $4 million. The
year-over-year comparison reflected earnings on increased
infrastructure investments offset by higher depreciation and
amortization expenses.
Ameren Transmission Segment Results
Ameren Transmission third quarter 2023 earnings were
$86 million, compared to third
quarter 2022 earnings of $78 million.
The year-over-year improvement reflected earnings on increased
infrastructure investments.
Ameren Parent Results (includes items not reported in a business
segment)
Ameren Parent results for the third quarter of 2023 reflected a
loss of $65 million, compared to a
third quarter 2022 loss of $70
million. The year-over-year improvement reflected lower tax
expense due, in part, to the effect of favorable market returns on
COLI investments, partially offset by increased interest expense,
primarily due to higher short-term debt rates.
Analyst Conference Call
Ameren will conduct a conference call for financial analysts at
9 a.m. Central Time on Thursday, Nov.
9, to discuss 2023 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 "Latest Quarterly Results," where an accompanying
slide presentation will also be available. The conference call and
presentation will be archived in the "Investors" section of the
website under "Quarterly Earnings."
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 in
the Midcontinent Independent System Operator, Inc. For more
information, visit Ameren.com, or follow us on X 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, 2022, 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, and any changes
in regulatory policies and ratemaking determinations, that may
change regulatory recovery mechanisms, such as those that may
result from the Missouri Public Service Commission (MoPSC) staff
review of the planned Rush Island Energy Center retirement, Ameren
Missouri's proposed customer energy-efficiency plan under the
Missouri Energy Efficiency Investment Act (MEEIA) filed with the
MoPSC in March 2023, Ameren Illinois'
Multi-Year Rate Plan (MYRP) electric distribution service
regulatory rate review filed in January
2023 with the Illinois Commerce Commission (ICC), Ameren
Illinois' natural gas regulatory rate review filed in January 2023 with the ICC, Ameren Illinois'
electric distribution service revenue requirement reconciliation
adjustment request filed with the ICC in April 2023, and the August
2022 United States Court of Appeals for the District of
Columbia Circuit ruling that vacated the Federal Energy Regulatory
Commission's (FERC) Midcontinent Independent System Operator, Inc.
(MISO), ROE-determining orders and remanded the proceedings to the
FERC;
- our ability to control costs and make substantial investments
in our businesses, including our ability to recover costs and
investments, and to earn our allowed ROEs, within frameworks
established by our regulators, while maintaining affordability of
our services for our customers;
- the effect of Ameren Illinois' use of the performance-based
formula ratemaking framework for its electric distribution service
under the Illinois Energy Infrastructure Modernization Act (IEIMA),
which established and allows for a reconciliation of electric
distribution service rates through 2023, its participation in
electric energy-efficiency programs, and the related impact of the
direct relationship between Ameren Illinois' ROE and the 30-year
United States Treasury bond yields;
- the effect and duration of Ameren Illinois' election to utilize
MYRPs for electric distribution service ratemaking effective for
rates beginning in 2024, including the effect of the reconciliation
cap on the electric distribution revenue requirement;
- the effect on Ameren Missouri of any customer rate caps or
limitations on increasing the electric service revenue requirement
in connection with Ameren Missouri's election to use the
plant-in-service accounting (PISA);
- Ameren Missouri's ability to construct and/or acquire wind,
solar, and other renewable energy generation facilities and battery
storage, as well as natural gas-fired energy centers, retire fossil
fuel-fired energy centers, and implement new or existing customer
energy-efficiency programs, including any such construction,
acquisition, retirement, or implementation in connection with its
Smart Energy Plan, integrated resource plan, or emissions reduction
goals, and to recover its cost of investment, a related return,
and, in the case of customer energy-efficiency programs, any lost
margins in a timely manner, each of which is affected by the
ability to obtain all necessary regulatory and project approvals,
including certificates of convenience and necessity (CCNs) from the
MoPSC or any other required approvals for the addition of renewable
resources;
- Ameren Missouri's ability to use or transfer federal production
and investment tax credits related to renewable energy centers; the
cost of wind, solar, and other renewable generation and storage
technologies; and our ability to obtain timely interconnection
agreements with the MISO or other regional transmission
organizations (RTO) at an acceptable cost for each facility;
- the outcome of competitive bids related to requests for
proposals associated with the MISO's long-range transmission
planning;
- the inability of our counterparties to meet their obligations
with respect to contracts, credit agreements, and financial
instruments, including as they relate to the construction and
acquisition of electric and natural gas utility infrastructure and
the ability of counterparties to complete projects, which is
dependent upon the availability of necessary materials and
equipment, including those obligations that are affected by supply
chain disruptions;
- advancements in energy technologies, including carbon capture,
utilization, and sequestration, hydrogen fuel for electric
production and energy storage, next generation nuclear, large-scale
long-cycle battery storage, and the impact of federal and state
energy and economic policies with respect to those
technologies;
- the effects of changes in federal, state, or local laws and
other governmental actions, including monetary, fiscal, foreign
trade, and energy policies;
- the effects of changes in federal, state, or local tax laws or
rates, including the effects of the Inflation Reduction Act (IRA)
and the 15% minimum tax on adjusted financial statement income, as
well as additional regulations, interpretations, amendments, or
technical corrections to or in connection with the IRA, and
challenges, if any, to the tax positions we have taken as well as
resulting effects on customer rates and the recoverability of the
minimum tax imposed under the IRA;
- the effects on energy prices and demand for our services
resulting from technological advances, including advances in
customer energy efficiency, electric vehicles, electrification of
various industries, energy storage, and private generation sources,
which generate electricity at the site of consumption and are
becoming more cost-competitive;
- the cost and availability of fuel, such as low-sulfur coal,
natural gas, and enriched uranium used to produce electricity; the
cost and availability of natural gas for distribution and purchased
power, including capacity, zero emission credits, renewable energy
credits, and emission allowances; and the level and volatility of
future market prices for such commodities and credits;
- 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 nuclear fuel
assemblies from primarily one Nuclear Regulatory
Commission-licensed supplier of Ameren Missouri's Callaway Energy
Center assemblies;
- 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;
- the effectiveness of our risk management strategies and our use
of financial and derivative instruments;
- the ability to obtain sufficient insurance, or, in the absence
of insurance, the ability to timely recover uninsured losses from
our customers;
- the impact of cyberattacks and data security risks on us or our
suppliers, which could, among other things, 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, employee, financial, and operating system
information;
- acts of sabotage, which have increased in frequency and
severity within the utility industry, war, terrorism, or other
intentionally disruptive acts;
- business, economic, and capital market conditions, including
the impact of such conditions on interest rates, inflation, and
investments;
- the impact of inflation or a recession on our customers and the
related impact on our results of operations, financial position,
and liquidity;
- disruptions of the capital and credit 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, and our ability to access the capital and credit
markets on reasonable terms when needed;
- the actions of credit rating agencies and the effects of such
actions;
- the impact of weather conditions and other natural phenomena on
us and our customers, including the impact of system outages and
the level of wind and solar resources;
- the construction, installation, performance, and cost recovery
of generation, transmission, and distribution assets;
- the ability to maintain system reliability during the
transition to clean energy generation by Ameren Missouri and the
electric utility industry, including within the MISO, as well as
our ability to meet generation capacity obligations;
- the effects of failures of electric generation, electric and
natural gas transmission or distribution, or natural gas storage
facilities systems and equipment, which could result in
unanticipated liabilities or unplanned outages;
- the operation of Ameren Missouri's Callaway Energy Center,
including planned and unplanned outages, as well as the ability to
recover costs associated with such outages and the impact of such
outages on off-system sales and purchased power, among other
things;
- Ameren Missouri's ability to recover the remaining investment
and decommissioning costs associated with the retirement of an
energy center, as well as the ability to earn a return on that
remaining investment and those decommissioning costs;
- the impact of current environmental laws and new, more
stringent, or changing requirements, including those related to New
Source Review, carbon dioxide, nitrogen oxide and other emissions
and discharges, Illinois emission
standards, cooling water intake structures, coal combustion
residuals, energy efficiency, and wildlife protection, that could
limit or terminate the operation of certain of Ameren Missouri's
energy centers, increase our operating 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 standards in
Missouri and Illinois and with the zero emission standard
in Illinois;
- the effectiveness of Ameren Missouri's customer
energy-efficiency programs and the related revenues and performance
incentives earned under its MEEIA programs;
- Ameren Illinois' ability to achieve the performance standards
applicable to its electric distribution business and electric
customer energy-efficiency goals and the resulting impact on its
allowed ROE;
- labor disputes, work force reductions, changes in future wage
and employee benefits costs, including those resulting from changes
in discount rates, mortality tables, returns on benefit plan
assets, and other assumptions;
- the impact of negative opinions of us or our utility services
that our customers, investors, legislators, regulators, creditors,
or other stakeholders may have or develop, which could result from
a variety of factors, including failures in system reliability,
failure to implement our investment plans or to protect sensitive
customer information, increases in rates, negative media coverage,
or concerns about environmental, social, and/or governance
practices;
- the impact of adopting new accounting guidance;
- the effects of strategic initiatives, including mergers,
acquisitions, and divestitures;
- legal and administrative proceedings;
- pandemics or other health events, and their impacts on our
results of operations, financial position, and liquidity; and
- the impacts of the Russian invasion of Ukraine and the Israel-Hamas war, related
sanctions imposed by the U.S. and other governments, and any
broadening of such conflicts, including potential impacts on the
cost and availability of fuel, natural gas, enriched uranium, and
other commodities, materials, and services, the inability of our
counterparties to perform their obligations, disruptions in the
capital and credit markets, and other impacts on business,
economic, and geopolitical conditions, including inflation.
New factors emerge from time to time, and it is not possible for
us to predict all of such factors, nor can we 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
September 30,
|
|
Nine Months
Ended
September 30,
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Operating
Revenues:
|
|
|
|
|
|
|
|
Electric
|
$
1,921
|
|
$
2,140
|
|
$
5,096
|
|
$
4,971
|
Natural gas
|
139
|
|
166
|
|
786
|
|
940
|
Total operating
revenues
|
2,060
|
|
2,306
|
|
5,882
|
|
5,911
|
Operating
Expenses:
|
|
|
|
|
|
|
|
Fuel
|
158
|
|
117
|
|
423
|
|
376
|
Purchased
power
|
272
|
|
563
|
|
1,095
|
|
1,058
|
Natural gas purchased
for resale
|
30
|
|
58
|
|
280
|
|
431
|
Other operations and
maintenance
|
470
|
|
475
|
|
1,368
|
|
1,427
|
Depreciation and
amortization
|
369
|
|
350
|
|
1,024
|
|
965
|
Taxes other than
income taxes
|
147
|
|
144
|
|
398
|
|
415
|
Total operating
expenses
|
1,446
|
|
1,707
|
|
4,588
|
|
4,672
|
Operating
Income
|
614
|
|
599
|
|
1,294
|
|
1,239
|
Other Income,
Net
|
101
|
|
58
|
|
261
|
|
180
|
Interest
Charges
|
152
|
|
126
|
|
413
|
|
356
|
Income Before
Income Taxes
|
563
|
|
531
|
|
1,142
|
|
1,063
|
Income
Taxes
|
69
|
|
78
|
|
144
|
|
148
|
Net
Income
|
494
|
|
453
|
|
998
|
|
915
|
Less: Net Income
Attributable to Noncontrolling Interests
|
1
|
|
1
|
|
4
|
|
4
|
Net Income
Attributable to Ameren Common Shareholders
|
$
493
|
|
$
452
|
|
$
994
|
|
$
911
|
|
|
|
|
|
|
|
|
Earnings per Common
Share – Basic
|
$
1.88
|
|
$
1.75
|
|
$
3.79
|
|
$
3.53
|
|
|
|
|
|
|
|
|
Earnings per Common
Share – Diluted
|
$
1.87
|
|
$
1.74
|
|
$
3.78
|
|
$
3.51
|
|
|
|
|
|
|
|
|
Weighted-average
Common Shares Outstanding – Basic
|
262.8
|
|
258.4
|
|
262.5
|
|
258.2
|
Weighted-average
Common Shares Outstanding – Diluted
|
263.4
|
|
259.5
|
|
263.2
|
|
259.3
|
AMEREN CORPORATION
(AEE)
CONSOLIDATED BALANCE
SHEET
(Unaudited, in
millions)
|
|
|
September 30,
2023
|
|
December 31,
2022
|
ASSETS
|
|
|
|
Current
Assets:
|
|
|
|
Cash and cash
equivalents
|
$
8
|
|
$
10
|
Accounts receivable -
trade (less allowance for doubtful accounts)
|
597
|
|
600
|
Unbilled
revenue
|
360
|
|
446
|
Miscellaneous accounts
receivable
|
65
|
|
54
|
Inventories
|
760
|
|
667
|
Current regulatory
assets
|
157
|
|
354
|
Investment in
industrial development revenue bonds
|
—
|
|
240
|
Current collateral
assets
|
13
|
|
142
|
Other current
assets
|
124
|
|
155
|
Total current
assets
|
2,084
|
|
2,668
|
Property, Plant, and
Equipment, Net
|
32,938
|
|
31,262
|
Investments and
Other Assets:
|
|
|
|
Nuclear
decommissioning trust fund
|
1,042
|
|
958
|
Goodwill
|
411
|
|
411
|
Regulatory
assets
|
1,772
|
|
1,426
|
Pension and other
postretirement benefits
|
470
|
|
411
|
Other
assets
|
882
|
|
768
|
Total investments and
other assets
|
4,577
|
|
3,974
|
TOTAL
ASSETS
|
$
39,599
|
|
$
37,904
|
LIABILITIES AND
EQUITY
|
|
|
|
Current
Liabilities:
|
|
|
|
Current maturities of
long-term debt
|
$
849
|
|
$
340
|
Short-term
debt
|
1,340
|
|
1,070
|
Accounts and wages
payable
|
955
|
|
1,159
|
Taxes
accrued
|
209
|
|
59
|
Other current
liabilities
|
664
|
|
738
|
Total current
liabilities
|
4,017
|
|
3,366
|
Long-term Debt,
Net
|
13,829
|
|
13,685
|
Deferred Credits and
Other Liabilities:
|
|
|
|
Accumulated deferred
income taxes and tax credits, net
|
4,068
|
|
3,804
|
Regulatory
liabilities
|
5,336
|
|
5,309
|
Asset retirement
obligations
|
761
|
|
763
|
Other deferred credits
and liabilities
|
416
|
|
340
|
Total deferred credits
and other liabilities
|
10,581
|
|
10,216
|
Shareholders'
Equity:
|
|
|
|
Common
stock
|
3
|
|
3
|
Other paid-in capital,
principally premium on common stock
|
6,900
|
|
6,860
|
Retained
earnings
|
4,144
|
|
3,646
|
Accumulated other
comprehensive loss
|
(4)
|
|
(1)
|
Total shareholders'
equity
|
11,043
|
|
10,508
|
Noncontrolling
Interests
|
129
|
|
129
|
Total
equity
|
11,172
|
|
10,637
|
TOTAL LIABILITIES
AND EQUITY
|
$
39,599
|
|
$
37,904
|
AMEREN CORPORATION
(AEE)
CONDENSED
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited, in
millions)
|
|
|
Nine Months
Ended
September 30,
|
|
2023
|
|
2022
|
Cash Flows From
Operating Activities:
|
|
|
|
Net income
|
$
998
|
|
$
915
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
Depreciation and
amortization
|
1,063
|
|
1,016
|
Amortization of
nuclear fuel
|
56
|
|
46
|
Amortization of debt
issuance costs and premium/discounts
|
12
|
|
17
|
Deferred income taxes
and investment tax credits, net
|
128
|
|
137
|
Allowance for equity
funds used during construction
|
(39)
|
|
(31)
|
Stock-based
compensation costs
|
21
|
|
18
|
Other
|
12
|
|
63
|
Changes in assets and
liabilities
|
(220)
|
|
(582)
|
Net cash provided by
operating activities
|
2,031
|
|
1,599
|
Cash Flows From
Investing Activities:
|
|
|
|
Capital
expenditures
|
(2,571)
|
|
(2,437)
|
Nuclear fuel
expenditures
|
(63)
|
|
(22)
|
Purchases of
securities – nuclear decommissioning trust fund
|
(156)
|
|
(176)
|
Sales and maturities
of securities – nuclear decommissioning trust fund
|
136
|
|
163
|
Other
|
(2)
|
|
14
|
Net cash used in
investing activities
|
(2,656)
|
|
(2,458)
|
Cash Flows From
Financing Activities:
|
|
|
|
Dividends on common
stock
|
(496)
|
|
(457)
|
Dividends paid to
noncontrolling interest holders
|
(4)
|
|
(4)
|
Short-term debt,
net
|
272
|
|
675
|
Maturities of
long-term debt
|
(100)
|
|
(450)
|
Issuances of long-term
debt
|
997
|
|
1,118
|
Issuances of common
stock
|
28
|
|
29
|
Employee payroll taxes
related to stock-based compensation
|
(20)
|
|
(16)
|
Debt issuance
costs
|
(12)
|
|
(11)
|
Other
|
(10)
|
|
—
|
Net cash provided by
financing activities
|
655
|
|
884
|
Net change in cash,
cash equivalents, and restricted cash
|
30
|
|
25
|
Cash, cash
equivalents, and restricted cash at beginning of
year
|
216
|
|
155
|
Cash, cash
equivalents, and restricted cash at end of period
|
$
246
|
|
$
180
|
AMEREN CORPORATION
(AEE)
OPERATING
STATISTICS
|
|
|
Three Months
Ended
|
|
Nine Months
Ended
|
|
September 30,
|
|
September 30,
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Electric Sales -
kilowatthours (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
3,691
|
|
3,780
|
|
9,942
|
|
10,688
|
Commercial
|
3,796
|
|
3,803
|
|
10,300
|
|
10,551
|
Industrial
|
1,071
|
|
1,085
|
|
3,010
|
|
3,096
|
Street lighting and
public authority
|
16
|
|
17
|
|
51
|
|
54
|
Ameren Missouri retail
load subtotal
|
8,574
|
|
8,685
|
|
23,303
|
|
24,389
|
Off-system
|
1,108
|
|
1,531
|
|
3,379
|
|
6,100
|
Ameren Missouri
total
|
9,682
|
|
10,216
|
|
26,682
|
|
30,489
|
Ameren Illinois
Electric Distribution
|
|
|
|
|
|
|
|
Residential
|
3,207
|
|
3,270
|
|
8,270
|
|
9,098
|
Commercial
|
3,266
|
|
3,273
|
|
8,836
|
|
8,979
|
Industrial
|
2,847
|
|
2,888
|
|
8,126
|
|
8,311
|
Street lighting and
public authority
|
96
|
|
101
|
|
295
|
|
314
|
Ameren Illinois
Electric Distribution total
|
9,416
|
|
9,532
|
|
25,527
|
|
26,702
|
Eliminate affiliate
sales
|
—
|
|
(46)
|
|
—
|
|
(140)
|
Ameren
Total
|
19,098
|
|
19,702
|
|
52,209
|
|
57,051
|
Electric Revenues
(in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
|
|
|
|
|
|
|
Residential
|
$
590
|
|
$
564
|
|
$
1,274
|
|
$
1,267
|
Commercial
|
468
|
|
430
|
|
1,026
|
|
968
|
Industrial
|
107
|
|
99
|
|
243
|
|
229
|
Other, including
street lighting and public authority
|
3
|
|
22
|
|
60
|
|
101
|
Ameren Missouri retail
load subtotal
|
$
1,168
|
|
$
1,115
|
|
$
2,603
|
|
$
2,565
|
Off-system sales and
capacity
|
51
|
|
223
|
|
375
|
|
401
|
Ameren Missouri
total
|
$
1,219
|
|
$
1,338
|
|
$
2,978
|
|
$
2,966
|
Ameren Illinois
Electric Distribution
|
|
|
|
|
|
|
|
Residential
|
$
330
|
|
$
407
|
|
$
1,049
|
|
$
954
|
Commercial
|
189
|
|
233
|
|
582
|
|
571
|
Industrial
|
40
|
|
47
|
|
136
|
|
145
|
Other, including
street lighting and public authority
|
(1)
|
|
(15)
|
|
(45)
|
|
(29)
|
Ameren Illinois
Electric Distribution total
|
$
558
|
|
$
672
|
|
$
1,722
|
|
$
1,641
|
Ameren
Transmission
|
|
|
|
|
|
|
|
Ameren Illinois
Transmission(a)
|
$
136
|
|
$
117
|
|
$
363
|
|
$
320
|
ATXI
|
53
|
|
53
|
|
150
|
|
146
|
Eliminate affiliate
revenues
|
(1)
|
|
(1)
|
|
(1)
|
|
(1)
|
Ameren Transmission
total
|
$
188
|
|
$
169
|
|
$
512
|
|
$
465
|
Other and intersegment
eliminations(a)
|
(44)
|
|
(39)
|
|
(116)
|
|
(101)
|
Ameren
Total
|
$
1,921
|
|
$
2,140
|
|
$
5,096
|
|
$
4,971
|
(a)
|
Includes $33 million,
$31 million, $87 million, and $75 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
|
|
Nine Months
Ended
|
|
September 30,
|
|
September 30,
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Gas Sales -
dekatherms (in millions):
|
|
|
|
|
|
|
|
Ameren
Missouri
|
2
|
|
2
|
|
13
|
|
15
|
Ameren Illinois
Natural Gas
|
25
|
|
27
|
|
115
|
|
129
|
Ameren
Total
|
27
|
|
29
|
|
128
|
|
144
|
Gas Revenues (in
millions):
|
|
|
|
|
|
|
Ameren
Missouri
|
$
18
|
|
$
21
|
|
$
123
|
|
$
130
|
Ameren Illinois
Natural Gas
|
122
|
|
146
|
|
665
|
|
811
|
Eliminate affiliate
revenues
|
(1)
|
|
(1)
|
|
(2)
|
|
(1)
|
Ameren
Total
|
$
139
|
|
$
166
|
|
$
786
|
|
$
940
|
|
|
|
September
30,
|
|
|
|
December
31,
|
|
|
|
2023
|
|
|
|
2022
|
Common
Stock:
|
|
|
|
|
|
|
|
Shares outstanding (in
millions)
|
|
|
262.9
|
|
|
|
262.0
|
Book value per
share
|
|
|
$
42.00
|
|
|
|
$
40.11
|
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SOURCE Ameren Corporation