Ameren (AEE) official guidance

Today, Ameren reaffirmed its 2026 earnings guidance range of $5.25 to $5.45 per share.

You know, we had talked about the generation plans providing for up to, you know, an additional 2 GW of sales by 2032, and by 2040, up to 3.5 GW.

In February, we updated our five-year growth plan, which included our expectation to deliver annual earnings per share growth consistently near the upper end of our 6%-8% compound annual earnings growth rate from 2026 through 2030.

To satisfy our 2026 equity needs, last May, we sold forward approximately $600 million of equity, representing approximately 6.4 million shares, which we expect to issue near the end of this year.

To that end, we continue to make progress against our expected equity issuances of approximately $4 billion from 2026 through 2030.

To satisfy our 2026 equity needs, last May, we sold forward approximately $600 million of equity, representing approximately 6.4 million shares, which we expect to issue near the end of this year.

You know, labor's mobilized and making really good progress on both of those simple cycles, along with there's gonna be about a 400 MW of battery at that second site that comes online in 2028.

In addition, we continue to advance two 800 MW simple cycle natural gas energy centers, Castle Bluff and Big Hollow, which are expected to begin serving customers in 2027 and 2028 respectively, along with 400 MW of battery storage at Big Hollow.

In addition, we continue to advance two 800 MW simple cycle natural gas energy centers, Castle Bluff and Big Hollow, which are expected to begin serving customers in 2027 and 2028 respectively, along with 400 MW of battery storage at Big Hollow.

When we, if you look at the IRP from last February, which is on slide 22, it's back in the appendix, you'll see that we had about 5 GW of generation planned by 2030, then as I mentioned, that combined cycle facility, another 2,100 MW planned for 2031.

In March, we reached a stipulation and agreement with interveners for the CCN we are seeking for the Reform Renewable Energy Center, a 250 MW facility expected to be in service in 2028.

We are well on our way to delivering the more than 5 GW of new energy and capacity resources currently planned to go into service through 2030 as our team continues to execute on a robust generation plan.

This pipeline stands at more than $70 billion through 2035 and is expected to continue supporting strong growth opportunities for our customers, communities, and shareholders.

This earnings growth is primarily driven by strong compound annual rate base growth of 10.6%, reflecting strategic capital allocation across our constructive regulatory frameworks and conservative sales growth assumptions.

Our long-term earnings per share expectations outlined in February, were based upon a compounded annual sales growth assumption of 6.2% from 2026 through 2030.

We are continuing these reliability-focused efforts and would expect higher tree trimming costs in 2026, particularly in the second quarter of this year as compared to 2025.

Our five-year financial plan laid out today assumes 6.2% compound annual sales growth from 2026 through 2030, which includes a base assumption of 1.2 gigawatts of new load growth by 2030, consistent with our preferred resource plan and is depicted by the blue line on the chart on the right-hand side of this page.

To fund maturing obligations and a portion of the $5.5 billion of planned investment, we expect debt issuances totaling approximately $2.85 billion in 2026.

Further, as part of strengthening our existing fleet, dual fuel conversion work is expected to be completed by the end of the year at our Audrain Energy Center to add 700 megawatts of capacity on the coldest winter days when gas is otherwise unavailable.

Yesterday, the Missouri PSC approved the Certificate of Convenience and Necessity for the 800-MW Big Hollow Natural Gas Energy Center and accompanying 400-MW battery storage facility, both scheduled to be in service in 2028.