Ameren Earnings Slip

Revenue slides.
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Energy provider

Ameren

(AEE) - Get Report

said its second-quarter profit fell 33.5% from a year ago, hit by higher fuel and other costs.

The St. Louis-based company earned $123 million, or 60 cents a share, in the second quarter, compared with $185 million, or 93 cents a share, a year ago. Analysts polled by Thomson First Call were expecting earnings of 85 cents a share.

Second-quarter revenue fell 2.1% from a year ago to $1.55 billion as against analysts' expectation of $1.56 billion.

The company expects full year earnings of $2.75 to $3.00 per share, lower than its previous prediction of $2.95 to $3.15 per share. Analysts expect the company to earn $3.06 a share.

"Several factors contributed to Ameren's decreased earnings in the second quarter as compared to last year," said the company. "These included higher fuel and related transportation costs, decreased power plant availability, including an unplanned outage at our Callaway nuclear plant, costs associated with the Taum Sauk incident and milder weather."

The company's shares fell 58 cents, or 1.1%, to $51.28 Thursday.

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