EarningsQ1 2026 Earnings Report
MX:AEE Q1 2026 EPS Results
Actual EPS$21.96
Consensus EPS$20.28
Beat/MissBeat by +$1.68
One Year Ago EPS$18.36
MX:AEE Q1 2026 Revenue Results
Actual Revenue$37.33B
Expected Revenue$38.50B
Beat/MissMissed by -$1.17B
YoY Revenue Growth+3.77%
Earnings Announcement Details
QuarterQ1 2026
Date05/05/2026
TimeAfter Close
Conference CallTuesday, May 5, 2026
MX:AEE Upcoming Earnings
Ameren's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MX:AEE Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational execution and material near-term progress: Q1 EPS grew ~19.6% year-over-year, management reaffirmed full-year guidance, sizable infrastructure and generation projects are advancing, and a robust pipeline of large-load ESAs and a >$70 billion investment pipeline were highlighted. Offsetting these positives are weather-driven sales headwinds, ongoing elevated reliability-related costs, timing uncertainty on a portion of construction agreements, and the need for substantial future transmission investment and regulatory reconciliations. Overall, the highlights meaningfully outweigh the lowlights, reflecting a confident growth and execution narrative with manageable risks.Company Guidance
Quarterly EPS Growth
Reported first quarter 2026 earnings per share of $1.28 versus $1.07 in Q1 2025, an increase of $0.21 per share, or approximately +19.6% year-over-year.
Reaffirmed 2026 Guidance
Management reaffirmed full-year 2026 EPS guidance in the range of $5.25 to $5.45 and reiterated a five-year target to deliver annual EPS growth near the upper end of a 6%–8% CAGR for 2026–2030.
Robust Infrastructure Investment
Invested more than $1.5 billion in infrastructure during Q1 to strengthen reliability and resiliency; five-year capital plan referenced in Q&A (~$32 billion) and an overall investment pipeline exceeding $70 billion through 2035.
Generation and Capacity Additions Underway
Placed 50 MW Bowling Green Energy Center in service (March) and progressed final commissioning on 300 MW Split Rail; advancing two 800 MW simple-cycle natural gas centers (Castle Bluff and Big Hollow) with Big Hollow to include 400 MW of battery storage; Audrain optimization expected to add up to 700 MW of winter capacity.
Large-Load / ESA Momentum
Signed 2.2 GW of energy services agreements (ESAs) in February (Missouri) and hold 3.4 GW of construction agreements in Missouri and 850 MW in Illinois; management sees the 2.2 GW as upside to sales and expects some of the remaining 1.2 GW of construction agreements to convert to ESAs in the near term, with site secured for announced ESAs and potential Q2 groundbreakings.
Operational Reliability Outcomes
Infrastructure investments and system automation materially reduced customer impact during severe weather: avoided ~4.3 million outage minutes for nearly 20,000 Ameren Missouri customers in March; during late-April storms automation helped avoid an additional ~43,000 customer outages and ~12 million outage minutes over a two-day period, collectively reducing the overall customer impact by nearly half.
Customer Assistance and Affordability
Connected customers with more than $40 million in energy assistance and weatherization resources through Ameren programs and partnerships during Q1.
Strong Financial Position and Capital Markets Activity
Completed planned debt issuances in Q1; S&P affirmed BBB+ with a stable outlook in April; continued equity planning to fund growth with expected equity issuances of approximately $4 billion from 2026–2030 (including previously sold-forwards of ~ $600 million representing ~6.4M shares and ~ $600 million under ATM in 2026).
MX:AEE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed