EX-99.2 3 q12025ex992earningsrelease.htm EX-99.2

Exhibit 99.2

AMEREN CORPORATION (AEE)

CONSOLIDATED STATEMENT OF INCOME

(Unaudited, in millions, except per share amounts)

 

									Three Months Ended March 31,
															2025						2024
Operating Revenues:
Electric															$	1,622					$	1,364
Natural gas															475						452
Total operating revenues															2,097						1,816
Operating Expenses:
Fuel and purchased power															502						328
Natural gas purchased for resale															169						151
Other operations and maintenance															485						470
Depreciation and amortization															367						361
Taxes other than income taxes															144						135
Total operating expenses															1,667						1,445
Operating Income															430						371
Other Income, Net															85						89
Interest Charges															175						154
Income Before Income Taxes															340						306
Income Taxes															50						44
Net Income															290						262
Less: Net Income Attributable to Noncontrolling Interests															1						1
Net Income Attributable to Ameren Common Shareholders															$	289					$	261
Earnings per Common Share - Basic and Diluted															$	1.07					$	0.98
Weighted-average Common Shares Outstanding – Basic															270.0						266.4
Weighted-average Common Shares Outstanding – Diluted															271.4						266.8

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AMEREN CORPORATION (AEE)

CONSOLIDATED BALANCE SHEET

(Unaudited, in millions)

			March 31, 2025						December 31, 2024
ASSETS
Current Assets:
Cash and cash equivalents			$	23					$	7
Accounts receivable - trade (less allowance for doubtful accounts)			667						525
Unbilled revenue			253						346
Miscellaneous accounts receivable			327						96
Inventories			669						762
Current regulatory assets			340						366
Other current assets			176						162
Total current assets			2,455						2,264
Property, Plant, and Equipment, Net			37,010						36,304
Investments and Other Assets:
Nuclear decommissioning trust fund			1,312						1,342
Goodwill			411						411
Regulatory assets			2,569						2,397
Pension and other postretirement benefits			765						757
Other assets			1,143						1,123
Total investments and other assets			6,200						6,030
TOTAL ASSETS			$	45,665					$	44,598
LIABILITIES AND EQUITY
Current Liabilities:
Current maturities of long-term debt			$	17					$	317
Short-term debt			1,252						1,143
Accounts and wages payable			702						1,059
Interest accrued			159						196
Customer deposits			223						223
Other current liabilities			510						475
Total current liabilities			2,863						3,413
Long-term Debt, Net			18,354						17,262
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes and tax credits, net			4,782						4,474
Regulatory liabilities			5,953						5,897
Asset retirement obligations			830						822
Other deferred credits and liabilities			535						487
Total deferred credits and other liabilities			12,100						11,680
Shareholders’ Equity:
Common stock			3						3
Other paid-in capital, principally premium on common stock			7,524						7,513
Retained earnings			4,702						4,604
Accumulated other comprehensive loss			(10)						(6)
Total shareholders’ equity			12,219						12,114
Noncontrolling Interests			129						129
Total equity			12,348						12,243
TOTAL LIABILITIES AND EQUITY			$	45,665					$	44,598

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AMEREN CORPORATION (AEE)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(Unaudited, in millions)

 

			Three Months Ended March 31,
			2025						2024
Cash Flows From Operating Activities:
Net income			$	290					$	262
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			395						379
Amortization of nuclear fuel			20						18
Amortization of debt issuance costs and premium/discounts			5						5
Deferred income taxes and tax credits, net			116						44
Allowance for equity funds used during construction			(16)						(9)
Stock-based compensation costs			7						8
Other			7						16
Changes in assets and liabilities			(393)						(231)
Net cash provided by operating activities			431						492
Cash Flows From Investing Activities:
Capital expenditures			(1,064)						(890)
Nuclear fuel expenditures			(18)						(12)
Purchases of securities – nuclear decommissioning trust fund			(107)						(70)
Sales and maturities of securities – nuclear decommissioning trust fund			93						66
Other			9						—
Net cash used in investing activities			(1,087)						(906)
Cash Flows From Financing Activities:
Dividends on common stock			(191)						(178)
Dividends paid to noncontrolling interest holders			(1)						(1)
Short-term debt, net			108						332
Maturities of long-term debt			(300)						—
Issuances of long-term debt			1,099						347
Issuances of common stock			13						10
Employee payroll taxes related to stock-based compensation			(13)						(8)
Debt issuance costs			(11)						(5)
Net cash provided by financing activities			704						497
Net change in cash, cash equivalents, and restricted cash			48						83
Cash, cash equivalents, and restricted cash at beginning of year(a)			328						272
Cash, cash equivalents, and restricted cash at end of period(b)			$	376					$	355

(a)Includes $7 million of cash and cash equivalents and $321 million of restricted cash as of December 31, 2024.

(a)Includes $23 million of cash and cash equivalents and $353 million of restricted cash as of March 31, 2025.