Although AmerenCorp. reported a slight year-over-year drop to its first-quarter 2016net income attributable to common shareholders of $105 million, or 43 cents pershare, the result beat the S&P Global Market Intelligence normalized consensusEPS estimate of 37 cents per share.
Net income was $108 million, or 45 cents per share, in the firstquarter of 2015. Ameren said the decrease was due to lower sales volumes and lowersales to Noranda Aluminum Inc.,its largest customer.
The company generated $1.43 billion in revenues, comprised of$1.10 billion from electric and $332 million from the gas segment. In comparison,Ameren recorded $1.56 billion in first-quarter 2015 revenues, comprised of $1.14billion from electric and $413 million from the gas segment.
Operating income was $220 million for the 2016 first quarter,compared with $256 million in the prior-year period.
On a segment basis, Ameren Missouri posted first-quarter 2016earnings of $14 million, compared to $41 million in the 2015 quarter, while reported first-quarter2016 earnings of $59 million, compared to $53 million in the 2015 first quarter.Ameren Missouri is known legally as UnionElectric Co.
Other earnings, including those of Ameren Transmission Co. of Illinois and the parent company,were $32 million for the first quarter of 2016, up from $14 million in the year-agoperiod.
"Our first quarter results were solid, and we remain ontrack to deliver within our 2016 earnings guidance range of $2.40 to $2.60 per share,"Ameren Chairman, President and CEO Warner Baxter said.