Ameren Q2 Earnings Higher Than Expected, Revenues Increase Y/Y

Core Insights - Ameren Corporation (AEE) reported second-quarter 2025 earnings of $1.01 per share, exceeding the Zacks Consensus Estimate of $1 by 1% and improving 4.1% from the previous year's 97 cents [1][7] - Total revenues for the quarter reached $2.22 billion, marking a 31.2% year-over-year increase and surpassing the Zacks Consensus Estimate of $1.84 billion by 20.7% [2][7] Revenue and Sales Performance - Total electricity sales volumes decreased by 8.4% to 15,672 million kilowatt-hours (kWh) compared to 17,110 million kWh in the same quarter last year, while gas volumes increased by 6.5% to 33 million dekatherms [3] - Total operating expenses rose to $1.81 billion, up 35.9% year over year [3] Segment Performance - The Ameren Missouri segment reported earnings of $150 million, an increase from $128 million a year ago, driven by new electric service rates, increased infrastructure investments, and lower operational costs [4] - The Ameren Illinois Electric Distribution segment's earnings rose to $64 million from $61 million in the previous year [4] - The Ameren Illinois Natural Gas segment posted earnings of $10 million, up from $6 million a year ago, while the Ameren Transmission segment reported earnings of $86 million compared to $79 million in the prior year [5] Financial Condition - As of June 30, 2025, Ameren reported cash and cash equivalents of $11 million, up from $7 million at the end of 2024 [6] - Long-term debt increased to $18.81 billion from $17.26 billion as of December 31, 2024 [6] - Cash flow from operating activities amounted to $1.29 billion, compared to $1.05 billion a year ago [6] Guidance - Ameren reaffirmed its 2025 earnings guidance, expecting earnings per share (EPS) in the range of $4.85-$5.05, with the Zacks Consensus Estimate for 2025 earnings at $4.94, just below the midpoint of the company's guidance [8]