Ameren Co., the St. Louis-based utility holding company, reported increases in net income and revenue for fiscal 2014.
Ameren posted net income of $586 million for 2014, up from $512 million in 2013. The company boosted revenue to $6.05 billion last year from $5.84 billion the year before.
Diluted earnings per share for 2014 were $2.40, and the company expects that figure to increase to a range between $2.45 and $2.65 in 2015.
For the fourth quarter of 2014, the company reported revenue of $1.37 billion, which was a 3.6 percent increase from $1.32 billion in the prior-year quarter, but was lower than Yahoo Finance’s consensus forecast of $1.44 billion.
Ameren reported a $48 million profit for the fourth quarter of 2014, and its earnings per share of $0.19 for the quarter beat analysts’ forecasts.
Ameren Missouri, one the holding company’s two subsidiaries, had higher fuel costs in the fourth quarter of 2014, up to $1.96 per kilowatthour from $1.81 in the fourth quarter of 2013. Electric sales in Missouri for the fourth quarter decreased 3.7 percent, and gas sales decreased 9 percent.
Ameren Missouri’s 2014 earnings were $390 million, down from $395 million in 2013. The company attributed the dip in profit to increased operations and maintenance and depreciation and amortization expenses.
Ameren Co. has invested recently in developing smart grid technologies. The company announced on Feb. 10 that it opened the Ameren Innovation Center at the University of Illinois at Urbana-Champaign. The center will focus on a variety of projects designed to address “the needs of the utility of the future,” according to a press release. The facility will employ up to 12 students from the university.
Also in February, Ameren added J. Edward Coleman, the retired chairman and CEO of Unisys Corporation, to its board of directors.