Ameren Sees Net Income Rise, Core Earnings Drop

Ameren Corporation released their 2012 third quarter earnings on Friday. The energy company reported their net income as $374 million or $1.54 per share in accordance with generally accepted accounting principles this quarter. This is a 31 percent increase from the end of 2011’s Q3 of $285 million, or $1.18 per share.

Non-GAAP core earnings were down 15 percent compared to third quarter 2011, from $381 million to $323 million. All three of Ameren’s business segments reflected a decline.

For nine months ending Sept. 30 2012, Ameren saw a decline in GAAP net income, from $494 million last year to $182 million.

Ameren Missouri non-GAAP earnings lowered because of lower electric sales and a higher effective income tax rate partially offset by the benefit of a 2011 electric rate adjustment, Ameren said.

From the end of the three month quarter last September when sales sat at 13.1 million kilowatt-hours, electric sales for Ameren Missouri were down 7.7 percent at 12.1 kilowatt-hours as of September 30.

Read the full earnings report here.


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