Filing Flows › Ameren (AEE) › Q2 2026 › vs Q2 2025
Ameren (AEE) Q2 2026 vs Q2 2025 (year over year)
Ameren's revenue fell $129M (-6%) from $2.2B in Q2 2025 to $2.1B in Q2 2026. The biggest changes: Electric −$151M (-7%); Natural gas +$22.0M (+12%). Operating margin 21.9% against 18.5% (+3.4 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 21.9% | 18.5% | +3.4 pts |
| Net margin | 15.1% | 12.5% | +2.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Electric | $1.9B | $2.0B | −$151M | -7% |
| Natural gas | $205M | $183M | $22.0M | +12% |
| Revenue | $2.1B | $2.2B | −$129M | -6% |
| Operating profit | $459M | $411M | $48.0M | +12% |
| Costs & expenses | $1.6B | $1.8B | −$177M | -10% |
| Pre-tax earnings | $368M | $320M | $48.0M | +15% |
| Other expense, net | $91.0M | $91.0M | $0 | 0% |
| Net earnings | $316M | $277M | $39.0M | +14% |
| Income tax | $52.0M | $43.0M | $9.0M | +21% |
| Depreciation & amortization | $424M | $398M | $26.0M | +7% |
| Share-based compensation | $8.0M | $7.0M | $1.0M | +14% |
| Working capital & other | $22.0M | $180M | −$158M | -88% |
| Operating cash flow | $770M | $862M | −$92.0M | -11% |
| Capital expenditures | $1.1B | $1.1B | $13.0M | +1% |
| Negative free cash flow (OCF − capex) | $309M | $204M | $105M | +51% |
Questions
How much did Ameren's revenue grow year over year in Q2 2026?
Ameren's revenue fell $129M (-6%) from $2.2B in Q2 2025 to $2.1B in Q2 2026.
What drove Ameren's revenue change in Q2 2026?
Electric −$151M (-7%); Natural gas +$22.0M (+12%).