Mon, May 5, 7:42 PM (17 days ago)
### Ameren Corporation (AEE) Q1 2025 Financial Summary **Overview:** - **Net Income:** $289 million, or $1.07 per diluted share, compared to $261 million, or $0.98 per diluted share, in Q1 2024. - **Revenue:** $2.097 billion, up 19% from $1.816 billion in Q1 2024. - **Operating Income:** $430 million, up from $371 million in Q1 2024. - **Capital Expenditures:** $1.1 billion in Q1 2025. **Segment Performance:** - **Ameren Missouri:** Electric revenues increased by $179 million (25%) due to higher infrastructure investments and colder winter temperatures. - **Ameren Illinois:** Electric revenues increased by $80 million (13%) driven by base rate increases and higher sales volumes. - **Ameren Transmission:** Electric revenues increased by $25 million (14%) due to higher recoverable expenses and capital investment. **Financial Highlights:** - **Fuel and Purchased Power:** Increased by $174 million (53%) due to higher costs at Ameren Missouri and Ameren Illinois. - **Other Operations and Maintenance:** Increased by $15 million due to higher storm costs and labor expenses. - **Depreciation and Amortization:** Increased by $6 million due to additional property investments. - **Interest Charges:** Increased by $21 million due to higher short-term debt balances. **Regulatory and Operational Updates:** - **Missouri Senate Bill 4:** Enacted in April 2025, affecting the regulation of Ameren Missouri’s electric and natural gas businesses. - **MoPSC Orders:** Approved a $355 million increase in Ameren Missouri’s annual revenue requirement for electric retail service. - **Natural Gas Rate Review:** Ameren Missouri filed for a $38 million increase in natural gas delivery service revenues. - **MISO Transmission Projects:** Ameren awarded projects estimated to cost $1.8 billion. **Future Outlook:** - **Capital Expenditures:** Estimated at $27.4 billion from 2025 through 2029. - **Environmental Compliance:** Estimated capital expenditures of $900 million to $1 billion from 2025 through 2029. - **Strategic Initiatives:** Focus on investing in rate-regulated energy infrastructure, enhancing regulatory frameworks, and optimizing operating performance. **Liquidity and Capital Resources:** - **Net Available Liquidity:** $1.347 billion as of March 31, 2025. - **Credit Ratings:** Maintained solid investment-grade ratings. - **Dividends:** Expected payout ratio between 55% and 65% of annual earnings over the next few years. **Risks and Uncertainties:** - **Regulatory Risks:** Potential impacts from regulatory changes and legal proceedings. - **Environmental Risks:** Compliance with environmental regulations and potential impacts on operations. - **Market Risks:** Fluctuations in energy prices and demand. **Conclusion:** Ameren Corporation continues to invest in its infrastructure and regulatory frameworks to support its strategic goals. The company faces various risks and uncertainties but remains focused on maintaining solid financial performance and liquidity.