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Ameren

Ameren (AEE) Q1 2026 Earnings

Reported May 5, 2026 at 4:33 PM ET · SEC Source

Q1 26 EPS

$1.28

BEAT +9.09%

Est. $1.17

Q1 26 Revenue

$2.18B

MISS 3.18%

Est. $2.25B

vs S&P Since Q1 26

-3.0%

TRAILING MARKET

AEE -0.6% vs S&P +2.4%

Market Reaction

Did AEE Beat Earnings? Q1 2026 Results

Ameren Corporation delivered a strong earnings beat in the first quarter of 2026, posting diluted EPS of $1.28 against a consensus estimate of $1.17, a 9.09% positive surprise, even as revenue of $2.18 billion came in 3.18% below expectations despite… Read more Ameren Corporation delivered a strong earnings beat in the first quarter of 2026, posting diluted EPS of $1.28 against a consensus estimate of $1.17, a 9.09% positive surprise, even as revenue of $2.18 billion came in 3.18% below expectations despite rising 3.8% year over year. The St. Louis-based utility's bottom-line strength was driven primarily by earnings on increased infrastructure investment across its Missouri and Illinois electric and natural gas operations, with operating income climbing to $532.00 million from $430.00 million a year earlier, aided by meaningfully lower fuel and purchased power costs. Net income attributable to common shareholders rose to $357.00 million from $289.00 million, though warmer-than-normal winter temperatures weighed on Missouri electric retail volumes and pressured the top line. Capital expenditures accelerated sharply to $1.57 billion from $1.06 billion, reflecting the company's intensified build-out to serve growing demand, including from data center customers. Ameren reaffirmed its full-year 2026 guidance of $5.25 to $5.45 per diluted share, assuming normal temperatures for the remainder of the year, and declared its twelfth consecutive annual dividend increase at $0.75 per share quarterly.

Key Takeaways

  • • Earnings on increased infrastructure investments across electric and natural gas operations
  • • New electric service rates effective June 1, 2025 and natural gas service rates effective September 1, 2025 at Ameren Missouri
  • • Natural gas service rates effective December 2, 2025 at Ameren Illinois
  • • Lower fuel and purchased power costs
  • • Partially offset by lower Ameren Missouri electric retail sales due to warmer-than-normal winter temperatures
  • • Higher interest expense at Ameren Missouri
  • • Higher weighted-average common shares outstanding

AEE Forward Guidance & Outlook

Ameren reaffirmed its 2026 earnings guidance range of $5.25 to $5.45 per diluted share, assuming normal temperatures for the last nine months of the year. The guidance is subject to regulatory, judicial and legislative actions; energy center operations; market conditions; customer usage; severe storms; and other risks. The company continues to execute its strategic plan of disciplined infrastructure investment across all operating segments to meet growing energy demand, including from data centers and large load customers that signed electric service agreements in 2026.

24/7 Wall St

AEE YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

AEE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Customers depend on us every day for safe, reliable, and affordable energy—and demand is growing. Meeting these needs requires disciplined ongoing infrastructure investment. Our strategic plan calls for prudent investments across each of our operating segments to optimize service for our customers and communities today while preparing for the future.”

— Martin J. Lyons, Jr., Q1 2026 Earnings Press Release

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