Ameren Corporation announced 2015 GAAP net income attributable to common shareholders of $630 million, or $2.59 per diluted share.
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This compares to $586 million, or $2.40 per diluted share, for 2014. Excluding certain items discussed below, Ameren recorded core earnings of $622 million, or $2.56 per diluted share, for 2015, compared to core earnings of $587 million, or $2.40 per diluted share, for 2014.
The year-over-year increase in 2015 core earnings reflected increased investments in electric transmission and delivery infrastructure made under modern, constructive regulatory frameworks as well as the absence, in 2015, of a nuclear refueling and maintenance outage at the Callaway Energy Center, which is scheduled to occur every 18 months.
The positive effects of these factors were partially offset by increased depreciation and amortization expenses and lower retail electric and gas sales volumes in 2015 driven by milder winter temperatures.
Ameren recorded GAAP net income attributable to common shareholders for the three months ended Dec. 31, 2015, of $29 million, or 12 cents per diluted share, compared to $48 million, or 20 cents per diluted share, for the same period in 2014.
Excluding results from discontinued operations, Ameren recorded core earnings of $30 million, or 12 cents per diluted share, for the three months ended Dec. 31, 2015, compared to $46 million, or 19 cents per diluted share, for the same period in 2014.
This year-over-year decrease in fourth quarter 2015 core earnings reflected lower retail electric and gas sales volumes primarily driven by milder winter temperatures, a higher effective income tax rate and the absence of a fourth quarter 2014 benefit resulting from a regulatory order regarding debt redemption costs.
The negative effects of these factors were partially offset by the absence, in 2015, of a nuclear refueling and maintenance outage at the Callaway Energy Center and earnings on increased investments in electric transmission infrastructure. ■