(AEE) Ameren Misses Earnings – Increases Year Over Year

Before the bell, Ameren Corp. (AEE) reported first quarter 2013 earnings from continuing operations of 22 cents per share, below the Zacks Consensus Estimate of 26 cents. However, the quarterly result jumped 46.7% from the year-earlier earnings of 15 cents. Higher contribution from the company’s Ameren Missouri and Ameren Illinois units drove the year-over-year growth. Operational Performance Total operating revenue in the reported quarter inched up 4.5% to $1,475.0 million. However, revenue failed to meet the Zacks Consensus Estimate of $1,633.0 million. Electric revenue surged 2.3% to $1,088.0 million while gas revenue increased more than 11%, on a year-over-year basis. A harsh winter generated higher electric and natural gas sales volumes. On Mar 2013, Ameren entered into an agreement to offload its merchant generation business, Ameren Energy Resources Company or