Ameren Corporation (NYSE:AEE) Q2 2019 Earnings Conference Call - Final Transcript

Aug 02, 2019 • 10:00 am ET


Ameren Corporation (NYSE:AEE) Q2 2019 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Ameren Corporation Second Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Andrew Kirk, Director of Investor Relations for Ameren Corporation. Thank you, Mr. Kirk. You may begin.

Andrew Kirk

Thank you. Good morning. On the call with me today are Warner Baxter, our Chairman, President and Chief Executive Officer; and Marty Lyons, our Executive Vice President and Chief Financial Officer; as well as other members of the Ameren management team. Warner and Marty will discuss our earnings results and guidance as well as provide a business update. Then we will open the call for questions.

Before we begin, let me cover a few administrative details. This call contains time-sensitive data that's accurate only as of the date of today's live broadcast and redistribution of this broadcast is prohibited. To assist with our call this morning, we have posted a presentation on the homepage that will be referenced by our speakers.

As noted on page two of the presentation, comments made during this conference call may contain statements that are commonly referred to as forward-looking statements. Such statements include those about future expectations, beliefs, plans, strategies, objectives, events, conditions and financial performance. We caution you that various factors could cause actual results to differ materially from those anticipated. For additional information concerning these factors, please read the Forward-looking Statements section in the news release we issued today and the Forward-Looking Statements and Risk Factors sections in our filings with the SEC.

Lastly, all per share earnings amounts discussed during today's presentation, including earnings guidance, are presented on a diluted basis, unless otherwise noted.

And here's Warner, who will start on page four of the presentation.

Warner L. Baxter

Thanks, Andrew. Good morning, everyone, and thank you for joining us.

Earlier today, we announced second quarter 2019 earnings of $0.72 per share compared to $0.97 per share earned in 2018. A summary of the key drivers of the year-over-year decrease of $0.25 per share is provided on slide four, which Marty will discuss in more detail in a moment.

I'm pleased to report that despite some weather-related headwinds in the second quarter, we continue to effectively execute our strategic plan and today reaffirmed our 2019 earnings guidance range of $3.15 per share to $3.35 per share, reflecting solid year-to-date results. In particular, I would like to note that during the second quarter, some of our customers and the communities we serve were affected by historic flooding and tornadoes.

While the impact on our operations and financial results was manageable, the impact on our customers and communities by these severe weather events was, in some cases, devastating. Our thoughts and prayers remain with those who have been affected by these events. We continue to work with our customers, local communities, agencies and government lawyers to help our customers