Ameren Corporation
AEE Utilities Utilities Regulated Electric
Ameren Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.8 billion, up 15.4% from fiscal 2024.
- Revenue
- −5.81%
- EPS
- +11.8%
- Free cash flow
- −51.2%
- Total debt
- +9.28%
Quarter to June 2026, against a year earlier
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Ameren Corporation 10-Q filed Nov 6, 2025
What changed
Part I, Item 2, Management’s Discussion and Analysis, against the 10-Q filed Aug 4, 2025: 32 added · 36 removed · 116 modified; 62 with only figures updated; 1 moved without change
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Modified · OVERVIEW
Net income attributable to Ameren common shareholders in the three months ended
JuneSeptember 30, 2025, was $275640 million, or $1.012.35 per diluted share, compared with $258456 million, or $0.971.70 per diluted share, in the year-ago period. Net income attributable to Ameren common shareholders in thesixnine months endedJuneSeptember 30, 2025, was $5641,204 million, or $2.084.43 per diluted share, compared with $519975 million, or $1.953.65 per diluted share, in the year-ago period. Net income was favorably affected for the three andsixnine months endedJuneSeptember 30, 2025, by increased base rate revenues at Ameren Missouri effective June 1, 2025, pursuant to the April 2025 MoPSC electric rate order, increased deferral of financing costs relatedand decreased tax expense at Ameren Transmission due torate base investments associated withthe revaluation of excess deferred income tax regulatory liabilities. Earnings were also favorably affected for thePISAthree andRESRAM at Ameren Missourinine months ended September 30, 2025, by decreased other operations andincreased infrastructure investments atmaintenance expenses not subject to formula rates, riders, or trackers, largely because of the absence in 2025 of an AmerenTransmissionMissouri charge related to the resolution of outstanding claims in the NSR andAmeren Illinois Electric DistributionClean Air Act litigation associated with the Rush Island Energy Center.EarningsAdditionally, earnings werealsofavorably affected for the three andsixnine months endedJuneSeptember 30, 2025, bya higher allowance for equity funds used during constructionincreased retail electric sales volumes at AmerenTransmissionMissouri, primarilyresulting from a decreased level of short-term borrowings includeddue to warmer July temperatures and colder winter temperatures in 2025 and growth in retail electric sales and by thecalculationincreased deferral of financing costs related to rate base investments at Ameren Missouri, andhigher average construction work in progress balancesby increased infrastructure investments at Ameren Transmission and Ameren Illinois Electric Distribution.Earnings were favorablyNet income was unfavorably affectedinfor thesixthree and nine months endedJuneSeptember 30, 2025, bydecreasedincreased financing costs, primarily resulting from higher interest rates on higher debt balances at Ameren (parent) and Ameren Missouri and by increased other operations and maintenance expenses not subject to formula rates, riders, or trackers,largely because of the absence in 2025 of an Ameren Missouri charge relatedexcluding a charge related to the NSR and Clean Air Act litigation, primarily due tothe resolution ofhigher storm costs, higher energy center maintenance expenses, and higher transmission and distribution vegetation management costs.