AI Takeaway
AEE (Ameren) delivered strong Q1 FY2026 results with revenue up 3.8% to $2.18B and operating income surging 23.7% to $532M, driven by improved operating margins, though liquidity remains tight with a current ratio below 1.0 and heavy capital investment activity.
Revenue
$2.18B
++3.77% YoY
EPS (Basic)
$1.29
++20.56% YoY
Operating Income
$532M
++23.72% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
AEE's revenue increased 3.8% year-over-year to $2.18B in Q1 FY2026, compared to $2.10B in the prior-year period, reflecting the utility's ability to grow top-line results through regulated rate structures and demand trends.
Source: Source: 10-Q Income Statement (XBRL Financial Data)
Operating income jumped 23.7% to $532M from $430M in Q1 FY2025, pushing the operating margin from approximately 20.5% to 24.4%, a nearly 4 percentage point improvement that signals meaningful cost discipline or favorable revenue mix.
Source: Source: 10-Q Income Statement & Key Ratios (XBRL Financial Data)
Investing cash outflows reached -$1.61B in Q1 FY2026, a 48.5% increase from -$1.09B in the prior year, indicating an accelerated capital expenditure program consistent with utility infrastructure buildout and grid modernization initiatives.
Source: Source: 10-Q Cash Flow Statement (XBRL Financial Data)
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Upgrade to unlockAEE's current ratio stands at only 0.62, meaning current liabilities of $4.13B significantly exceed current assets of $2.57B. Current liabilities surged 44.1% year-over-year, creating potential short-term funding pressure. The company's cash position also declined 43.5% to just $13M, leaving very limited liquidity buffer.
Source: Source: 10-Q Balance Sheet (XBRL Financial Data)
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Upgrade to unlockReported EPS of $1.28 versus the $1.19 analyst consensus — a +7.3% beat for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $2.18B | $2.1B | +3.77% |
Operating Income | $532M | $430M | +23.72% |
EPS (Basic) | $1.29 | $1.07 | +20.56% |
EPS (Diluted) | $1.28 | $1.07 | +19.63% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $49.85B | $45.66B | +9.16% |
Current Assets | $2.57B | $2.46B | +4.56% |
Current Liabilities | $4.13B | $2.86B | +44.11% |
Stockholders' Equity | $13.56B | $12.22B | +10.94% |
Cash & Equivalents | $13M | $23M | -43.48% |
Long-Term Debt | $19B | $18.35B | +3.54% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $421M | $431M | -2.32% |
Investing Cash Flow | $-1.61B | $-1.09B | -48.48% |
Financing Cash Flow | $1.26B | $704M | +78.69% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Margin | 24.4% | 20.5% | +3.94% |
Current Ratio | $0.622 | — | — |
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AEE delivered strong Q1 FY2026 results with revenue of $2.18B (up 3.8% year-over-year) and operating income of $532M (up 23.7%). Basic EPS grew 20.6% to $1.29, reflecting significant improvement in operating efficiency and profitability.
AEE's operating income surged 23.7% to $532M in Q1 FY2026, with operating margin expanding from 20.5% to 24.4%. This suggests improved cost management or favorable revenue mix within its regulated utility operations, though specific cost drivers are not detailed in the available filing data.
The most pressing risks include a current ratio of only 0.62 (current liabilities of $4.13B far exceed current assets of $2.57B) and long-term debt of $19.0B, creating significant leverage. Additionally, investing outflows of -$1.61B in a single quarter highlight the capital intensity of AEE's infrastructure program, which depends heavily on favorable regulatory rate approvals for cost recovery.
Yes, AEE's investing cash outflows reached -$1.61B in Q1 FY2026, a 48.5% increase from -$1.09B in the prior-year period, indicating a significantly accelerated capital expenditure program. To fund this, the company raised $1.26B through financing activities, a 78.7% increase year-over-year, primarily through debt issuance.
AEE's financial health shows a mixed picture: earnings are strong with 23.7% operating income growth, but liquidity is tight with a current ratio of 0.62 and cash of only $13M. The company carries $19.0B in long-term debt against $13.6B in equity, a leverage profile common for regulated utilities but one that requires careful management of refinancing risk and regulatory outcomes.