Financial Performance - Net income attributable to Ameren common shareholders for Q1 2025 was 289million,or1.07 per diluted share, compared to 261million,or0.98 per diluted share in Q1 2024, reflecting a 28millionincrease[192].−OperatingincomeforAmerenreached430 million in Q1 2025, compared to 371millioninQ12024,a16289 million in Q1 2025, up from 261millioninQ12024,an111,622 million in Q1 2025 from 1,364millioninQ12024,representinga19475 million in Q1 2025 from 452millioninQ12024,a5258 million, driven by a 179millionincreaseinAmerenMissourianda66 million increase in Ameren Illinois Electric Distribution [213]. - Ameren Missouri's electric revenues rose by 179million,or2566 million, or 13%, primarily due to base rate increases and higher recoverable non-purchased power expenses [221]. - Ameren's natural gas revenues increased by 23million,or51.1 billion in its rate-regulated businesses in the three months ended March 31, 2025 [193]. - The Smart Energy Plan includes a five-year capital investment of approximately 16.2billionfrom2025to2029toupgradeelectricinfrastructureandaccommodaterenewableenergy[197].−Thecompanyplanstoinvestupto27.4 billion in capital expenditures from 2025 to 2029, with 17.5billionallocatedtoAmerenMissouri,7.0 billion to Ameren Illinois, and 2.9billiontoATXI[330].RegulatoryChanges−TheMissouriSenateBill4,effectiveAugust2025,modifiesregulationsaffectingAmerenMissouri′selectricandnaturalgasbusinesses[194].−Anincreaseof355 million to Ameren Missouri's annual revenue requirement for electric retail service was approved, effective June 1, 2025 [195]. - Ameren Missouri's updated request for a natural gas delivery service revenue increase of 38millionisbasedona10.25525 million [196]. - The annual limit on increases to the electric service revenue requirement for Ameren Missouri is currently set at 2.5%, which will change to 2.25% after August 2025 [319]. Expenses and Costs - Ameren Missouri's fuel and purchased power expenses surged by 164million,or99174 million, or 53%, for the three months ended March 31, 2025 [231]. - Other operations and maintenance expenses increased by 15millioninQ12025comparedtothesameperiodlastyear,withanotabledecreaseof8 million in non-segment activities [244]. - Interest charges increased by 21millioninQ12025,primarilyduetoa19 million increase at Ameren (parent) from higher short-term borrowings [269]. Cash Flow and Financing - Ameren's cash provided by operating activities decreased by 61millioninQ12025comparedtoQ12024[281].−Cashusedininvestingactivitiesincreasedby181 million in Q1 2025, primarily due to a 174millionincreaseincapitalexpendituresrelatedtonaturalgasandrenewablegenerationinvestments[286].−Ameren′scashprovidedbyfinancingactivitiesincreasedby207 million in Q1 2025, utilizing net proceeds from long-term debt issuance of 1.1billion[290].−AsofMarch31,2025,Ameren′snetavailableliquiditywas1.347 billion, including cash and cash equivalents [297]. Future Outlook - Future outlook includes continued investments in infrastructure and potential rate base increases to support growth [210]. - Ameren Missouri expects a year-over-year increase in 2025 earnings of approximately 100millioncomparedto2024duetoa355 million increase in annual revenue requirement for electric retail service [321]. - The company expects to issue approximately $600 million of equity each year from 2025 to 2029 to fund capital expenditures [332]. - Ameren anticipates that cash used for capital expenditures and dividends will exceed cash provided by operating activities over the next several years [332].
Ameren(AEE)2025-05-05 19:40