Filing Flows › Ameren (AEE) › Q1 2026
Ameren (AEE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Ameren (AEE) reported revenue of $2.2B for the first quarter 2026 (Q1 2026), +4% from a year earlier and +22% from the quarter before. Operating margin was 24.4%, net earnings $358M (16.5% of revenue).
Ameren, Q1 2026: revenue $2.2B (+4% year over year), operating margin 24.4%, net earnings $358M, operating cash flow $421M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.2B | +22% | +4% |
| Operating profit | $532M | +48% | +24% |
| Net earnings | $358M | +42% | +23% |
| Operating cash flow | $421M | -56% | -2% |
What changed
Revenue was $2.2B in Q1 2026, up 4% year over year and up 22% from the previous quarter. Electric was the largest line at 76% of revenue. Natural gas added $0.04B year over year (up 8%), 51% of the total change.
Operating profit was $0.53B, a 24.4% margin (up 3.9 points year over year). Of the extra revenue versus Q1 2025, 129% reached operating profit, above the 21% margin then. Total costs fell 1% while revenue rose 4%. Net earnings were $0.36B, up 24% year over year. The effective tax rate was 14.4%.
Operating cash flow was $0.42B (down 2% year over year), 118% of net earnings. Non-cash charges added back $0.42B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.36B. Capital expenditures of $1.6B exceeded it, leaving free cash flow of −$1.2B.
Questions
What was Ameren's revenue in the first quarter 2026?
Ameren (AEE) reported revenue of $2.2B for the first quarter 2026 (Q1 2026), +4% from a year earlier and +22% from the quarter before.
Was Ameren profitable in the first quarter 2026?
Operating profit was $532M (24.4% of revenue) and net earnings $358M.
Source: Ameren 10-Q on SEC EDGAR.