--- title: "Ameren | 10-K: FY2025 Revenue: USD 8.799 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/276273201.md" datetime: "2026-02-18T21:22:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276273201.md) - [en](https://longbridge.com/en/news/276273201.md) - [zh-HK](https://longbridge.com/zh-HK/news/276273201.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/276273201.md) | [繁體中文](https://longbridge.com/zh-HK/news/276273201.md) # Ameren | 10-K: FY2025 Revenue: USD 8.799 B Revenue: As of FY2025, the actual value is USD 8.799 B. EPS: As of FY2025, the actual value is USD 5.35, beating the estimate of USD 5.03. EBIT: As of FY2025, the actual value is USD 2.373 B. ### Ameren Missouri #### Electric Sales (kilowatthours in millions) - Residential sales increased to 13,675 in 2025 from 13,041 in 2024. - Commercial sales increased to 13,972 in 2025 from 13,620 in 2024. - Industrial sales decreased to 4,087 in 2025 from 4,096 in 2024. - Off-system sales decreased to 3,466 in 2025 from 4,011 in 2024. - Total electric sales increased to 35,262 in 2025 from 34,833 in 2024. #### Electric Operating Revenues (in millions) - Residential revenues increased to $1,839 in 2025 from $1,638 in 2024. - Commercial revenues increased to $1,450 in 2025 from $1,313 in 2024. - Industrial revenues increased to $342 in 2025 from $311 in 2024. - Off-system sales and capacity revenues increased to $912 in 2025 from $485 in 2024. - Total electric operating revenues increased to $4,631 in 2025 from $3,847 in 2024. #### Natural Gas Sales (dekatherms in millions) - Residential sales increased to 7 in 2025 from 6 in 2024. - Commercial sales increased to 4 in 2025 from 3 in 2024. - Industrial sales remained at 1 in both 2025 and 2024. - Transport sales increased to 9 in 2025 from 8 in 2024. - Total natural gas sales increased to 21 in 2025 from 18 in 2024. #### Natural Gas Operating Revenues (in millions) - Residential revenues increased to $101 in 2025 from $90 in 2024. - Commercial revenues increased to $44 in 2025 from $37 in 2024. - Industrial revenues increased to $5 in 2025 from $4 in 2024. - Total natural gas operating revenues increased to $164 in 2025 from $146 in 2024. #### Operational Metrics - Fuel costs were 1.34 cents per kilowatthour generated in 2025, up from 1.27 cents in 2024. - Source of Energy Supply (2025) included Coal (56.5%), Nuclear (19.4%), Hydroelectric (3.5%), Wind (3.6%), Natural Gas (1.8%), Methane Gas and Solar (3.0%), and Purchased Power - Other (12.2%). - Capital Expenditures for 2025 were $2.4 billion. #### Rate Base (in billions, as of December 31) - Electric transmission and distribution rate base increased to $20.3 in 2025 from $18.5 in 2024. - Natural gas transmission and distribution rate base increased to $3.5 in 2025 from $3.3 in 2024. - Coal generation rate base remained at $1.6 in both 2025 and 2024. - Nuclear generation rate base increased to $1.6 in 2025 from $1.5 in 2024. - Renewable generation rate base remained at $2.4 in both 2025 and 2024. - Natural gas generation rate base remained at $0.4 in both 2025 and 2024. - Total rate base increased to $29.8 in 2025 from $27.7 in 2024. #### Outlook/Guidance The MoPSC authorized a $355 million increase to the annual electric revenue requirement effective June 1, 2025, and a $32 million increase to the annual natural gas revenue requirement effective September 1, 2025. 阿曼瑞恩 (Ameren Corporation) Missouri expects to invest approximately $20.8 billion in capital expenditures from 2026 through 2030 under its Smart Energy Plan. The company executed electric service agreements with large load customers representing 2.2 gigawatts of demand in February 2026, with no material impact expected to 2026 results from these agreements. ### Ameren Illinois Electric Distribution #### Electric Sales (kilowatthours in millions) - Residential sales increased to 11,516 in 2025 from 10,945 in 2024. - Commercial sales increased to 11,755 in 2025 from 11,631 in 2024. - Industrial sales decreased to 10,485 in 2025 from 10,949 in 2024. - Total electric sales increased to 34,154 in 2025 from 33,911 in 2024. #### Electric Operating Revenues (in millions) - Residential revenues increased to $1,483 in 2025 from $1,254 in 2024. - Commercial revenues increased to $785 in 2025 from $680 in 2024. - Industrial revenues increased to $199 in 2025 from $178 in 2024. - Other revenues were -$68 in 2025, down from -$23 in 2024. - Total electric operating revenues increased to $2,399 in 2025 from $2,089 in 2024. #### Operational Metrics - Allowed ROE for electric distribution delivery service was 8.72%. - Capital Expenditures for 2025 were $1.0 billion. #### Rate Base (in billions) - Average annual rate base was $4.4 for 2025. - Year-end rate base was $4.2 in 2024. #### Outlook/Guidance The ICC approved electric distribution service revenue requirements of $1,287 million for 2025, $1,367 million for 2026, and $1,421 million for 2027. 阿曼瑞恩 (Ameren Corporation) Illinois expects to invest $3.5 billion to $3.7 billion in capital expenditures from 2026 through 2030. ### Ameren Illinois Natural Gas #### Natural Gas Sales (dekatherms in millions) - Residential sales increased to 52 in 2025 from 47 in 2024. - Commercial sales increased to 16 in 2025 from 14 in 2024. - Industrial sales remained at 3 in both 2025 and 2024. - Transport sales increased to 100 in 2025 from 99 in 2024. - Total natural gas sales increased to 171 in 2025 from 163 in 2024. #### Natural Gas Operating Revenues (in millions) - Residential revenues increased to $680 in 2025 from $661 in 2024. - Commercial revenues increased to $185 in 2025 from $166 in 2024. - Industrial revenues increased to $12 in 2025 from $10 in 2024. - Total natural gas operating revenues increased to $968 in 2025 from $938 in 2024. #### Operational Metrics - Allowed ROE was 9.60%. - Capital Expenditures for 2025 were $0.3 billion. #### Rate Base (in billions) - Rate base was $3.2. #### Outlook/Guidance The ICC approved an increase of $79 million to annual revenues for natural gas delivery service, effective December 2025. 阿曼瑞恩 (Ameren Corporation) Illinois expects to invest $1.8 billion to $1.9 billion in capital expenditures from 2026 through 2030. ### Ameren Transmission #### Electric Operating Revenues (in millions) - Total electric operating revenues increased to $862 in 2025 from $781 in 2024. - This included $637 from 阿曼瑞恩 (Ameren Corporation) Illinois Transmission and $226 from ATXI in 2025. #### Operational Metrics - Allowed ROE for electric transmission service was 10.48%. - Capital Expenditures for 2025 were $0.4 billion. #### Rate Base (in billions) - Rate base was $4.6 for 阿曼瑞恩 (Ameren Corporation) Illinois Transmission and $1.8 for ATXI. #### Outlook/Guidance 阿曼瑞恩 (Ameren Corporation) Transmission expects to invest $4.8 billion to $5.3 billion in capital expenditures from 2026 through 2030. ### Ameren Corporation (Consolidated) #### Operational Metrics - Net Income Attributable to Common Shareholders increased to $1,456 million in 2025 from $1,182 million in 2024. - Total Capital Expenditures for 2025 were $4.1 billion. #### Outlook/Guidance 阿曼瑞恩 (Ameren Corporation)’s board of directors increased the quarterly common stock dividend to 75 cents per share in February 2026, resulting in an annualized equivalent dividend rate of $3.00 per share. 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