Q3 2024 Ameren Corp Earnings Call Transcript
Key Points
- Ameren Corp (AEE) reported third quarter 2024 adjusted earnings of $1.87 per share, consistent with the same period in 2023, meeting expectations.
- The company has a robust investment pipeline of more than $55 billion over the next decade, which is expected to drive significant value for stakeholders.
- Ameren Corp (AEE) is experiencing strong economic growth in the St. Louis region, with high employment growth and strong weather-normalized retail sales growth across all customer classes in Missouri.
- The company has successfully closed on three solar energy centers totaling 500 megawatts, expected to be in service by the end of the year, supporting its clean energy transition.
- Ameren Corp (AEE) has issued 2025 earnings guidance, projecting a 7.1% increase over the midpoint of its 2024 adjusted guidance range, demonstrating confidence in its growth trajectory.
- The company faced charges related to the Rush Island Energy Center and a FERC order, impacting GAAP earnings for the third quarter.
- Ameren Corp (AEE) is dealing with ongoing regulatory proceedings, including those related to the Rush Island Energy Center and MISO's allowed base ROE.
- The company anticipates higher interest expenses in 2025, which could impact earnings.
- There is potential duplication in the economic development pipeline, as many potential customers are evaluating multiple sites, which could affect load growth projections.
- Ameren Corp (AEE) faces challenges in balancing the cost of incremental investments needed to serve new and existing customers fairly.
Greetings and welcome to the Ameren Corporation third quarter, 2024 earnings call.
(Operator Instruction). As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Andrew Kirk, Director of Investor Relations and Corporate Modeling for Ameren Corporation. Mr. Kirk. Please proceed.
Thank you and good morning on the call with me today are Marty Lyons, our Chairman, President and Chief Executive Officer and Michael Moehn, our senior executive Vice President and Chief Financial Officer, as well as other members of the Ameren management team. This call contains time sensitive data that is accurate only as of the date of today's live broadcast and redistribution of this broadcast is prohibited. We have posted a presentation on the amereninvestors.com home page that will be referenced by our speakers.
As noted on page 2 of the presentation comments made during this conference call may contain statements about future expectations, plans, projections,
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