Overview

• Ameren’s net income was $261 million ($0.98 per share) in Q1 2024, down slightly from $264 million ($1.00 per share) in Q1 2023. Lower earnings were driven by higher operating costs and taxes.

Revenues

• Total revenues were $1.8 billion, down 12% from $2.1 billion in Q1 2023, primarily due to lower electric revenues.

Expenses

• Fuel and purchased power costs fell 46% to $328 million, helping offset the revenue decline.
• Operating and maintenance costs rose 5% to $470 million, reducing earnings.

Outlook

• Ameren plans continued infrastructure investment from 2024-2028, with a focus on renewable energy and grid modernization. This is expected to drive rate base and earnings growth.
• Key regulatory proceedings ongoing related to electric and gas rate reviews. Outcomes will impact future allowed revenues and returns on equity.
• Targeting 60% reduction in carbon emissions by 2030 and net zero by 2045 through coal plant retirements, additions of renewable generation and storage.

The article then provides more details on operations, liquidity, credit ratings, and other factors that may affect the business going forward. It uses tables to present financial metrics for different business segments.