Did Ameren beat or miss consensus estimates last quarter?

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What were the key takeaways from Ameren's earnings call?

What is Ameren's latest dividend and current dividend yield?

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What is the revenue and EPS growth rate for Ameren year over year?

What factors drove the changes in Ameren's revenue and profit?

- **Data Center Momentum**: 3 GW construction agreements and $38M in payments validate 1-1.5 GW sales growth target by 2032. 
- **Earnings Growth**: 2025 EPS guidance midpoint +8%, 2026 midpoint +8.2%, with confidence in 6%-8% long-term range. 
- **Regulatory Clarity**: Missouri PSC large load rate decision expected Feb 2026; Illinois focusing on resource adequacy and energy efficiency. 
- **Capital Allocation**: $68B 10-year pipeline includes $5B increase for transmission, generation, and grid upgrades.

**【CEO Summary Section】**
- **Strategic Focus on Infrastructure**: Ameren invested $3 billion in 2025 to upgrade electric and gas infrastructure, including 11,300 replaced poles, 300 smart switches, and 55 miles of underground cable. 
- **Data Center Growth**: Signed 3 GW construction agreements (up from 2.3 GW), with $38 million in non-refundable payments for transmission upgrades. Missouri expects 1 GW of new data center load by 2029 and 1.5 GW by 2032. 
- **Earnings Guidance**: 2025 EPS range updated to $4.90-$5.10 (midpoint +8% YoY), 2026 guidance of $5.25-$5.45 (midpoint +8.2% YoY). 
- **Leadership Changes**: Michael Moehn becomes Group President of Ameren Utilities; Lenny Singh transitions to CFO. 

**【CFO Financial Commentary】**
- **Q3 2025 Results**: GAAP EPS $2.35 (including $0.18 tax benefit), adjusted EPS $2.17 (vs. $1.87 in 2024). 
- **Growth Drivers**: Missouri rate increases, weather-related energy demand, and $825M invested in generation resources. 
- **Financing Plan**: $600M annual equity issuance through 2029, with $1.25B added to equity sales program. 
- **Regulatory Updates**: Illinois PSC reconciliation proceeding expected in December, with potential $47M rate adjustment. 

**【Q&A Key Highlights】**
- **Data Center Expansion**: 3 GW construction agreements demonstrate confidence in 1-1.5 GW sales growth target. Additional 2 GW in advanced discussions. 
- **Earnings Range**: Management expects to deliver near upper end of 6%-8% EPS growth range, driven by rate base growth and sales. 
- **Regulatory Environment**: Missouri PSC large load rate structure expected by Feb 2026; Illinois Omnibus Energy Bill focuses on resource planning and energy efficiency. 
- **Capital Pipeline**: 10-year pipeline increased by $5B to $68B, with investments in transmission, generation, and grid resilience.

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