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Ameren

Ameren (AEE) Q2 2026 Earnings

Reported Jul 30, 2026 at 4:31 PM ET · SEC Source

Q2 26 EPS

$1.13

BEAT +4.19%

Est. $1.08

Q2 26 Revenue

$2.09B

MISS 8.69%

Est. $2.29B

vs S&P Since Q2 26

-5.9%

TRAILING MARKET

AEE -2.4% vs S&P +3.5%

Market Reaction

Did AEE Beat Earnings? Q2 2026 Results

Ameren Corporation delivered a solid second quarter for 2026, posting diluted EPS of $1.13 against a consensus estimate of $1.08, a beat of 4.19% that extends the St. Louis-based utility's streak of topping Wall Street's EPS expectations to five cons… Read more Ameren Corporation delivered a solid second quarter for 2026, posting diluted EPS of $1.13 against a consensus estimate of $1.08, a beat of 4.19% that extends the St. Louis-based utility's streak of topping Wall Street's EPS expectations to five consecutive quarters. The result marked an improvement from $1.01 earned in Q2 2025, driven largely by returns on expanded infrastructure investment across all business segments, including updated electric and natural gas service rates that took effect in mid-2025. Revenue, however, told a different story: total operating revenues came in at $2.09 billion, missing the $2.29 billion consensus by 8.69% and declining 5.8% year over year, as a sharp contraction in off-system electric sales and capacity revenue at Ameren Missouri, which dropped from $471.00 million to $148.00 million, weighed on the top line. Investors will be watching whether the company's growing data center pipeline, with 2.3 gigawatts in signed service agreements, can sustain future revenue momentum. Ameren reaffirmed its full-year 2026 EPS guidance of $5.25 to $5.45 per diluted share, assuming normal temperatures for the remainder of the year.

Key Takeaways

  • • Earnings on increased infrastructure investments across all business segments
  • • Electric and natural gas service rate increases effective June 2025 and September 2025
  • • Earnings from innovative energy technology investments at Ameren Parent
  • • Higher retail electric revenues in Missouri and Illinois
  • • Higher operations and maintenance expenses from reliability-focused tree trimming and energy center maintenance partially offset gains
  • • Higher depreciation and amortization reflecting growing asset base
  • • Higher interest charges

AEE Forward Guidance & Outlook

Ameren reaffirmed its 2026 earnings guidance range of $5.25 to $5.45 per diluted share. This guidance assumes normal temperatures for the last six months of the year and is subject to regulatory, judicial and legislative actions; energy center operations; energy and capital market conditions; customer usage; severe storms; and other risks and uncertainties. The company highlighted growing demand from data centers and large load customers that signed electric service agreements in 2026, and filed an electric service regulatory rate review with the MoPSC in June 2026.

24/7 Wall St

AEE YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

AEE Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q2 26

“Our second quarter results demonstrate our commitment to delivering value for our customers through consistent execution of our strategy. We are investing in a diverse and resilient energy portfolio, strengthening the reliability of the grid and supporting economic growth throughout our region. By focusing on delivering reliable service in a cost-effective way, we are building the energy infrastructure needed to serve our customers today while preparing for the opportunities ahead.”

— Martin J. Lyons, Jr., Q2 2026 Earnings Press Release

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