Ameren, DTE Energy and Pepco Add Color to Utilities Earnings Performance

Ameren Corporation (NYSE:AEE) reported its results for the third quarter. Reported a profit of $285 million ($1.18 per diluted share) in the quarter. The diversified utilities company had a net loss of $167 million or a loss of 70 cents per share in the year earlier quarter. Revenue flat at $2.27 billion from the year earlier quarter. AEE reported adjusted net income of $1.57 per share. By that measure, the company beat the mean estimate of $1.29 per share. It beat the average revenue estimate of $2.22 billion.

“Third quarter core earnings were strong, driven by warmer-than-normal weather and continued disciplined cost management,” said Thomas R. Voss, chairman, president and CEO of Ameren Corporation. “As a result, today we are raising our 2011 core earnings guidance range to $2.50 to $2.60 per share, up from our prior guidance range of $2.30 to $2.55 per share. In addition, we continue to improve our 2011 positive free cash outlook.”

Competitors to Watch: CenterPoint Energy, Inc. (NYSE:CNP), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), NorthWestern Corporation (NYSE:NWE), CMS Energy Corporation (NYSE:CMS), NiSource Inc. (NYSE:NI), CH Energy Group, Inc. (NYSE:CHG), Dominion Resources, Inc. (NYSE:D), Wisconsin Energy Corp. (NYSE:WEC), and DTE Energy Company (NYSE:DTE).

DTE Energy Company (NYSE:DTE) reported net income above Wall Street’s expectations for the third quarter. Net income for DTE Energy Company rose to $183 million ($1.07 per share) vs. $163 million (96 cents per share) in the same quarter a year earlier. This marks a rise of 12.3% from the year earlier quarter. Revenue  rose 5.9% to $2.27 billion from the year earlier quarter. DTE beat the mean analyst estimate of 98 cents per share. It beat the average revenue estimate of $2.13 billion.

“DTE Energy delivered good results in the third quarter, and we are on track to achieve our 2011 goals,” said Gerard M. Anderson, DTE Energy chairman, president and CEO. “Our aspiration is to be the best operated energy company in North America and our employees take great pride in finding opportunities to control costs, strengthen operating performance, and improve our customers’ experiences with DTE Energy.”

Competitors to Watch: CMS Energy Corporation (NYSE:CMS), Wisconsin Energy Corp. (NYSE:WEC), Integrys Energy Group, Inc. (NYSE:TEG), The Empire District Electric Co. (NYSE:EDE), NiSource Inc. (NYSE:NI), Dominion Resources, Inc. (NYSE:D), Black Hills Corporation (NYSE:BKH), Avista Corporation (NYSE:AVA), Ameren Corporation (NYSE:AEE), and CH Energy Group, Inc. (NYSE:CHG).

Pepco Holdings Inc. (NYSE:POM) reported net income above Wall Street’s expectations for the third quarter. Net income for Pepco Holdings Inc. rose to $80 million (35 cents per share) vs. $17 million (8 cents per share) in the same quarter a year earlier. This is a more than fourfold rise from the year earlier quarter. Revenue fell 20.5% to $1.64 billion from the year earlier quarter. POM reported adjusted net income of 52 cents per share. By that measure, the company beat the mean estimate of 41 cents per share. It fell short of the average revenue estimate of $2 billion.

“Our earnings from continuing operations for the quarter reflect continued progress on executing our strategic plan, including our efforts to improve system reliability and customer service,” said Joseph M. Rigby, Chairman, President and Chief Executive Officer. “In late August, our efforts to improve reliability were tested with the arrival of Hurricane Irene.The high winds and driving rain caused about 445,000 customers to lose power at the height of the storm, or about 25 percent of our electric customers. We applied a maximum level of resources to restore power, and had the vast majority of our customers restored within two days.”

Competitors to Watch: Public Service Enterprise Group Inc. (NYSE:PEG), NextEra Energy, Inc. (NYSE:NEE), FirstEnergy Corp. (NYSE:FE), Northeast Utilities System (NYSE:NU), Constellation Energy Group, Inc. (NYSE:CEG), DPL Inc. (NYSE:DPL), The Southern Company (NYSE:SO), Consolidated Edison, Inc. (NYSE:ED), Exelon Corporation (NYSE:EXC), and Duke Energy Corporation (NYSE:DUK).

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