Filing Flows › Ameren (AEE) › Q2 2026 › vs Q1 2026
Ameren (AEE) Q2 2026 vs Q1 2026 (quarter over quarter)
Ameren's revenue fell $84.0M (-4%) from $2.2B in Q1 2026 to $2.1B in Q2 2026. The biggest changes: Natural gas −$310M (-60%); Electric +$226M (+14%). Operating margin 21.9% against 24.4% (-2.5 pts).
Ameren, Q2 2026: revenue $2.1B (-6% year over year), operating margin 21.9%, net earnings $316M, operating cash flow $770M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 21.9% | 24.4% | -2.5 pts |
| Net margin | 15.1% | 16.5% | -1.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Electric | $1.9B | $1.7B | $226M | +14% |
| Natural gas | $205M | $515M | −$310M | -60% |
| Revenue | $2.1B | $2.2B | −$84.0M | -4% |
| Operating profit | $459M | $532M | −$73.0M | -14% |
| Costs & expenses | $1.6B | $1.6B | −$11.0M | -0.7% |
| Pre-tax earnings | $368M | $418M | −$50.0M | -12% |
| Other expense, net | $91.0M | $114M | −$23.0M | -20% |
| Net earnings | $316M | $358M | −$42.0M | -12% |
| Income tax | $52.0M | $60.0M | −$8.0M | -13% |
| Depreciation & amortization | $424M | $417M | $7.0M | +2% |
| Share-based compensation | $8.0M | $8.0M | $0 | 0% |
| Working capital & other | $22.0M | −$362M | $384M | — |
| Operating cash flow | $770M | $421M | $349M | +83% |
| Capital expenditures | $1.1B | $1.6B | −$495M | -31% |
| Negative free cash flow (OCF − capex) | $309M | $1.2B | −$844M | -73% |
Questions
How much did Ameren's revenue grow quarter over quarter in Q2 2026?
Ameren's revenue fell $84.0M (-4%) from $2.2B in Q1 2026 to $2.1B in Q2 2026.
What drove Ameren's revenue change in Q2 2026?
Natural gas −$310M (-60%); Electric +$226M (+14%).