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Ameren reports fall in quarterly profit after mild weather clouds demand
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Ameren reports fall in quarterly profit after mild weather clouds demand
May 2, 2024 3:23 PM

May 2 (Reuters) - Ameren Corp ( AEE ) posted a fall in

first-quarter profit on Thursday, hurt by low demand due to

milder weather in its service regions and a charge at its

Missouri unit.

The utility reported quarterly income of $261 million,

or 98 cents per share, compared to $264 million, or $1 per share

in the year-ago quarter.

Utility firms often see reduced demand if their service

regions experience moderate weather, putting them under pressure

to reduce costs and expenses.

"We remain committed to disciplined cost management, which

we expect to result in meaningful operations and maintenance

expense reductions in the second half of the year," said CEO

Martin Lyons.

Ameren ( AEE ) reported an about 11.9% decline in its operating

revenues to $1.82 billion during the quarter from a year ago.

Additionally, the company incurred a charge at Ameren

Missouri related to its Rush Island Energy Center litigation, as

part of its dispute with the Environmental Protection Agency

over air pollution emissions.

The utility, which serves 2.4 million electric customers,

reaffirmed its annual profit guidance between $4.52 and $4.72 on

a per-share basis.

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