Ameren (AEE) Q2 FY2026 earnings: revenue $2.1 billion, down 5.8% on the year

Ameren Corp. (AEE) reported revenue of $2.1 billion for Q2 FY2026, the quarter ended 30 June 2026, down 5.8% on the same quarter a year earlier. Net income was $314 million, up 14.2% on the year, and diluted earnings per share $1.13. The figures are the company's own, from the 10-Q it filed with the SEC on 3 August 2026.

Revenue

$2.1 billion

-5.8% on the year · -3.9% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

21.9%

18.5% a year earlier

Q3 FY2024Q2 FY2026

Net income

$314 million

+14.2% on the year · -12.0% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$1.13

+11.9% on the year · -11.7% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

Second quarter EPS rose to $1.13: Diluted EPS was $1.13 against $1.01 a year earlier. Net income attributable to common shareholders was $314 million, versus $275 million.
Infrastructure earnings drove the gain: The release attributes the increase to earnings on infrastructure for reliability, resiliency and service quality at each segment, plus energy technology investments.
Maintenance costs partly offset gains: Higher operations and maintenance expense, mainly reliability-focused tree trimming and energy center maintenance, partly offset the positive contributions.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	2,092	2,176	2,221	-3.9%	-5.8%
Operating income	459	532	411	-13.7%	+11.7%
Operating margin	21.9%	24.4%	18.5%
Interest expense	209	204	187	+2.5%	+11.8%
Pre-tax income	368	418	320	-12.0%	+15.0%
Income tax	52.0	60.0	43.0	-13.3%	+20.9%
Effective tax rate	14.1%	14.4%	13.4%
Net income	314	357	275	-12.0%	+14.2%
Net margin	15.0%	16.4%	12.4%
Diluted EPS	$1.13	$1.28	$1.01	-11.7%	+11.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	770	421	862	+82.9%	-10.7%
Capital expenditure	1,079	1,574	1,066	-31.4%	+1.2%
Free cash flow	-309	-1,153	-204
Free cash flow margin	-14.8%	-53.0%	-9.2%
Cash from investing	-1,092	-1,614	-1,024
Cash from financing	307	1,258	180	-75.6%	+70.6%
Depreciation and amortisation	424	417	398	+1.7%	+6.5%
Share-based compensation	8.0	8.0	7.0	0.0%	+14.3%
Dividends paid	206	208	193	-1.0%	+6.7%
Dividend per share	$0.75	$0.75	$0.71	0.0%	+5.6%
Diluted shares, weighted	279m	278m	272m	+0.1%	+2.6%
Shares outstanding at period end	277m	277m	270m	+0.0%	+2.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	13,687	13,556	12,314	+1.0%	+11.1%
Non-controlling interest	129	129	129	0.0%	0.0%
Short-term borrowings	1,220	1,178	1,141	+3.6%	+6.9%
Debt	20,588	20,126	18,840	+2.3%	+9.3%
Other liabilities	15,592	14,857	14,201	+4.9%	+9.8%
Total liabilities and equity	51,216	49,846	46,625	+2.7%	+9.8%
Fixed assets	41,372	40,471	37,816	+2.2%	+9.4%
Goodwill	411	411	411	0.0%	0.0%
Cash and equivalents	12.0	13.0	11.0	-7.7%	+9.1%
Receivables	600	703	567	-14.7%	+5.8%
Inventory	800	733	738	+9.1%	+8.4%
Other assets	8,021	7,515	7,082	+6.7%	+13.3%
Total assets	51,216	49,846	46,625	+2.7%	+9.8%

Questions

What was Ameren's revenue in Q2 FY2026?

Ameren (AEE) reported revenue of $2.1 billion for Q2 FY2026, the quarter ended 30 June 2026, down 5.8% on the same quarter a year earlier.

How much did Ameren earn in Q2 FY2026?

Net income for Q2 FY2026 was $314 million, up 14.2% on the year, and diluted earnings per share $1.13.

When did Ameren report Q2 FY2026 results?

Ameren filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 3 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,545	1,879	1,726	2,306	2,046	2,062	1,760	2,060	1,618	1,816	1,693	2,173	1,941	2,097	2,221	2,699	1,782	2,176	2,092	2,882
Operating income	197	331	309	599	276	351	329	614	264	371	361	586	198	430	411	825	360	532	459	900
Operating margin	13%	18%	18%	26%	13%	17%	19%	30%	16%	20%	21%	27%	10%	21%	19%	31%	20%	24%	22%	31%
Interest expense	93.0	104	126	126	130	127	134	152	153	154	165	173	171	175	187	208	206	204	209	216
Pre-tax income	155	287	245	531	192	302	277	563	198	306	299	514	151	340	320	693	244	418	368	796
Tax rate	19%	12%	15%	15%	15%	12%	14%	12%	20%	14%	13%	11%	-38%	15%	13%	8%	-4%	14%	14%	15%
Net income	125	252	207	452	163	264	237	493	158	261	258	456	207	289	275	640	252	357	314	676
Net margin	8%	13%	12%	20%	8%	13%	13%	24%	10%	14%	15%	21%	11%	14%	12%	24%	14%	16%	15%	23%
Diluted EPS	$0.48	$0.97	$0.80	$1.74	$0.63	$1.00	$0.90	$1.87	$0.60	$0.98	$0.97	$1.70	$0.77	$1.07	$1.01	$2.35	$0.92	$1.28	$1.13	$2.42
Operating cash flow	469	388	484	727	664	496	615	920	533	492	557	897	817	431	862	1,104	956	421	770	1,002
Capital expenditure	856	774	764	899	914	931	891	749	1,026	890	1,002	1,137	1,290	1,064	1,066	988	1,010	1,574	1,079	1,436
Free cash flow	-387	-386	-280	-172	-250	-435	-276	171	-493	-398	-445	-240	-473	-633	-204	116	-54.0	-1,153	-309	-434
Dividends paid	142	152	153	152	153	165	165	166	166	178	178	179	179	191	193	192	192	208	206	208
Shares outstanding	258m	258m	258m	258m	262m	263m	263m	263m	266m	267m	267m	267m	270m	270m	270m	270m	276m	277m	277m	277m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 3 August 2026: the filing.