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Ameren Q4 Earnings Higher Than Expected, Revenues Decline Y/Y
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Key Takeaways
AEE Q4 EPS of 78 cents beat estimates, revenues fell 8.2% year over year.
Ameren electricity sales rose 6.3%, and gas volumes increased 7.5% in the quarter.
AEE Missouri earnings climbed on infrastructure investments and new electric service rates.
Ameren Corporation (AEE - Free Report) reported fourth-quarter 2025 earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 77 cents by 1.3%. The bottom line also increased 1.3% from the year-ago quarter’s recorded figure.
The year-over-year upside in the bottom line can be attributed to higher operating income generated in the fourth quarter of 2025 compared with the fourth quarter of 2024.
AEE reported adjusted earnings of $5.03 per share for 2025 compared with $4.63 in 2024, which reflects a year-over-year increase of 8.6%.
AEE’s Total Revenues
Total revenues came in at $1.78 billion in the reported quarter, down 8.2% year over year. The top line also missed the Zacks Consensus Estimate of $2.09 billion by 14.9%.
AEE reported total revenues of $8.8 billion for 2025 compared with $7.62 billion in 2024, which reflects a year-over-year rise of 15.4%.
Ameren Corporation Price, Consensus and EPS Surprise
Ameren’s total electricity sales volumes increased 6.3% to 16,927 million kilowatt-hours (kWh) compared with 15,929 million kWh in the year-ago period. Gas volumes rose 7.5% to 57 million dekatherms from the prior-year period’s level.
Total operating expenses were $1.42 billion, down 18.4% year over year.
The company’s interest expenses in the fourth quarter totaled $206 million compared with the prior-year quarter’s $171 million.
AEE’s Segmental Results
The Ameren Missouri segment reported adjusted earnings of $747 million compared with $604 million a year ago. This year-over-year increase was driven by earnings on increased infrastructure investments and new electric service rates effective June 1, 2025.
The Ameren Illinois Electric Distribution segment reported adjusted earnings of $256 million in the fourth quarter compared with $234 million in the year-ago quarter.
The Ameren Illinois Natural Gas segment reported adjusted earnings of $145 million in the fourth quarter compared with $149 million in the prior-year quarter.
The Ameren Transmission segment reported adjusted earnings of $367 million in the fourth quarter compared with $333 million in the year-ago quarter.
AEE’s Financial Condition
Ameren reported cash and cash equivalents of $13 million as of Dec. 31, 2025 compared with $7 million at the end of 2024.
As of Dec. 31, 2025, the long-term debt totaled $18.21 billion compared with $17.26 billion as of Dec. 31, 2024.
Net cash flows from operating activities in 2025 were $3.35 billion compared with $2.76 billion in 2024.
AEE’s Guidance
Ameren affirmed its 2026 earnings guidance. It expects to generate earnings per share (EPS) in the range of $5.25-$5.45. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.35, which is at the midpoint of the company’s guided range.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2025 adjusted earnings of 54 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 1.9%. The bottom line was also up 1.9% year over year.
In the fourth quarter, NextEra Energy’s operating revenues were $6.5 billion, which missed the Zacks Consensus Estimate of $6.52 billion by 0.33%. The top line improved 20.7% year over year.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2025 EPS of 95 cents, which beat the Zacks Consensus Estimate of 94 cents by 1.3%. The bottom line also increased 9.2% from 87 cents in the prior-year quarter.
Operating revenues totaled $2.23 billion, which outpaced the Zacks Consensus Estimate of $2.11 billion by 5.9%. The top line also increased 12.3% from $1.99 billion in the prior-year quarter.
WEC Energy Group (WEC - Free Report) reported fourth-quarter 2025 earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.38 by 2.9%. The bottom line decreased 0.7% and came a penny lower from the year-ago quarter’s $1.43.
Operating revenues of $2.54 billion surpassed the Zacks Consensus Estimate of $2.45 billion by around 3.7%. The top line also increased 11% from $2.28 billion recorded in the year-ago quarter.
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Ameren Q4 Earnings Higher Than Expected, Revenues Decline Y/Y
Key Takeaways
Ameren Corporation (AEE - Free Report) reported fourth-quarter 2025 earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 77 cents by 1.3%. The bottom line also increased 1.3% from the year-ago quarter’s recorded figure.
The year-over-year upside in the bottom line can be attributed to higher operating income generated in the fourth quarter of 2025 compared with the fourth quarter of 2024.
AEE reported adjusted earnings of $5.03 per share for 2025 compared with $4.63 in 2024, which reflects a year-over-year increase of 8.6%.
AEE’s Total Revenues
Total revenues came in at $1.78 billion in the reported quarter, down 8.2% year over year. The top line also missed the Zacks Consensus Estimate of $2.09 billion by 14.9%.
AEE reported total revenues of $8.8 billion for 2025 compared with $7.62 billion in 2024, which reflects a year-over-year rise of 15.4%.
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 6.3% to 16,927 million kilowatt-hours (kWh) compared with 15,929 million kWh in the year-ago period. Gas volumes rose 7.5% to 57 million dekatherms from the prior-year period’s level.
Total operating expenses were $1.42 billion, down 18.4% year over year.
The company’s interest expenses in the fourth quarter totaled $206 million compared with the prior-year quarter’s $171 million.
AEE’s Segmental Results
The Ameren Missouri segment reported adjusted earnings of $747 million compared with $604 million a year ago. This year-over-year increase was driven by earnings on increased infrastructure investments and new electric service rates effective June 1, 2025.
The Ameren Illinois Electric Distribution segment reported adjusted earnings of $256 million in the fourth quarter compared with $234 million in the year-ago quarter.
The Ameren Illinois Natural Gas segment reported adjusted earnings of $145 million in the fourth quarter compared with $149 million in the prior-year quarter.
The Ameren Transmission segment reported adjusted earnings of $367 million in the fourth quarter compared with $333 million in the year-ago quarter.
AEE’s Financial Condition
Ameren reported cash and cash equivalents of $13 million as of Dec. 31, 2025 compared with $7 million at the end of 2024.
As of Dec. 31, 2025, the long-term debt totaled $18.21 billion compared with $17.26 billion as of Dec. 31, 2024.
Net cash flows from operating activities in 2025 were $3.35 billion compared with $2.76 billion in 2024.
AEE’s Guidance
Ameren affirmed its 2026 earnings guidance. It expects to generate earnings per share (EPS) in the range of $5.25-$5.45. The Zacks Consensus Estimate for 2026 earnings is pegged at $5.35, which is at the midpoint of the company’s guided range.
AEE’s Zacks Rank
Ameren currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2025 adjusted earnings of 54 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 1.9%. The bottom line was also up 1.9% year over year.
In the fourth quarter, NextEra Energy’s operating revenues were $6.5 billion, which missed the Zacks Consensus Estimate of $6.52 billion by 0.33%. The top line improved 20.7% year over year.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2025 EPS of 95 cents, which beat the Zacks Consensus Estimate of 94 cents by 1.3%. The bottom line also increased 9.2% from 87 cents in the prior-year quarter.
Operating revenues totaled $2.23 billion, which outpaced the Zacks Consensus Estimate of $2.11 billion by 5.9%. The top line also increased 12.3% from $1.99 billion in the prior-year quarter.
WEC Energy Group (WEC - Free Report) reported fourth-quarter 2025 earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.38 by 2.9%. The bottom line decreased 0.7% and came a penny lower from the year-ago quarter’s $1.43.
Operating revenues of $2.54 billion surpassed the Zacks Consensus Estimate of $2.45 billion by around 3.7%. The top line also increased 11% from $2.28 billion recorded in the year-ago quarter.