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Ameren Q3 Earnings Higher Than Expected, Revenues Increase Y/Y

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Key Takeaways

  • Ameren posted Q3 2025 EPS of $2.17, topping estimates and up 16% from the prior year.
  • Revenues rose 24.2% year over year to $2.70 billion, driven by stronger electricity sales.
  • Ameren raised its 2025 EPS outlook to $4.90-$5.10, above its earlier guidance range.

Ameren Corporation (AEE - Free Report) reported third-quarter 2025 earnings of $2.17 per share, which beat the Zacks Consensus Estimate of $2.10 by 3.3%. The bottom line also improved 16% from the year-ago quarter’s $1.87 per share.

The year-over-year upside in the bottom line can be attributed to higher revenues and operating income generated in the third quarter of 2025 compared with the second quarter of 2024.

AEE’s Total Revenues

Total revenues were $2.70 billion in the reported quarter, up 24.2% year over year. Revenues also beat the Zacks Consensus Estimate of $2.41 billion by 12%.

Ameren Corporation Price, Consensus and EPS Surprise

Ameren Corporation Price, Consensus and EPS Surprise

Ameren Corporation price-consensus-eps-surprise-chart | Ameren Corporation Quote

AEE: Highlights of the Release

Ameren’s total electricity sales volumes increased 2.4% to 19,009 million kilowatt-hours (kWh) compared with 18,565 million kWh in the year-ago period. Gas volumes decreased 3.4% to 28 million dekatherms from the prior-year period’s level.

Total operating expenses were $1.87 billion, up 18.1% year over year.

The company’s interest expenses in the third quarter totaled $208 million compared with the prior-year quarter’s $173 million.

AEE’s Segmental Results

The Ameren Missouri segment reported earnings of $518 million compared with $415 million a year ago. This year-over-year increase was driven by new electric service rates that became effective June 1, 2025, earnings on increased infrastructure investments and lower operations and maintenance expenses.

The Ameren Illinois Electric Distribution segment reported earnings of $57 million in the third quarter compared with $56 million in the previous year.

The Ameren Illinois Natural Gas segment posted a loss of $13 million in the third quarter compared with a loss of $10 million in the prior year.

The Ameren Transmission segment reported earnings of $103 million in the third quarter compared with $100 million a year ago.

AEE’s Financial Condition

Ameren reported cash and cash equivalents of $9 million as of Sept. 30, 2025, compared with $7 million at the end of 2024.

As of Sept. 30, 2025, the long-term debt totaled $19.17 billion compared with $17.26 billion as of Dec. 31, 2024.

As of Sept. 30, 2025, the cash flow from operating activities amounted to $2.40 billion compared with $1.95 billion a year ago.

AEE’s Guidance

Ameren expects to generate earnings per share (EPS) in the range of $4.90-$5.10, higher than its previous guidance of $4.85-$5.05. The Zacks Consensus Estimate for 2025 earnings is pegged at $4.98 per share, which lies below the midpoint of the company’s guided range.

AEE’s Zacks Rank

Ameren currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

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FE’s long-term (three to five years) earnings growth is pegged at 6.46%. The Zacks Consensus Estimate for 2025 earnings per share is pegged at $2.53, indicating a year-over-year decline of 3.8%.

NextEra Energy (NEE - Free Report) posted third-quarter 2025 adjusted earnings of $1.13 per share, which surpassed the Zacks Consensus Estimate of $1.04 by 8.65%.

NEE’s long-term earnings growth is currently pegged at 8.04%. The Zacks Consensus Estimate for 2025 earnings per share is pegged at $3.68, indicating year-over-year growth of 7.29%.

NiSource Inc. (NI - Free Report) reported third-quarter 2025 operating earnings per share of 19 cents, which missed the Zacks Consensus Estimate of 20 cents by 5%.

NI’s long-term earnings growth is currently pegged at 7.72%. The Zacks Consensus Estimate for 2025 earnings per share is pegged at $1.88, indicating year-over-year growth of 7.43%.

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