Ameren Illinois Company reported its financial results for the third quarter and nine months ended September 30, 2024, highlighting a mixed performance in revenue and profitability compared to the previous fiscal period.

For the three months ended September 30, 2024, Ameren's operating revenues increased to $2,173 million, up from $2,060 million in the same period of 2023. However, for the nine months, revenues decreased to $5,682 million from $5,882 million year-over-year. Operating income for the third quarter was $586 million, a decline from $614 million in 2023, while net income fell to $457 million from $494 million. Earnings per share decreased to $1.71 from $1.88 in the prior year.

Segment performance showed varied results. Ameren Missouri reported external revenues of $1,333 million and net income of $381 million for the third quarter, while Ameren Illinois Electric Distribution generated $551 million in revenues with a net income of $56 million. The natural gas segment for Ameren Illinois reported a net loss of $10 million.

Total assets for Ameren Corporation rose to $43,298 million as of September 30, 2024, compared to $40,830 million at the end of 2023. Current assets increased to $2,257 million, while cash and cash equivalents decreased to $17 million. Notably, short-term debt surged to $1,539 million from $536 million, and long-term debt rose to $16,422 million from $15,121 million.

Ameren's capital expenditures for the nine months ended September 30, 2024, reached $1,839 million, significantly higher than $1,255 million in the same period of 2023. The company also reported a net cash used in investing activities of $(3,106) million, compared to $(2,656) million in the previous year.

Strategically, Ameren Missouri filed requests for revenue increases of $446 million for electric service and $40 million for natural gas delivery, with decisions expected in 2025. The company is also advancing several solar projects, including the Huck Finn Solar Project and the Boomtown Solar Project, with total expected capital expenditures of approximately $1.7 billion.

In terms of regulatory developments, the Federal Energy Regulatory Commission (FERC) reduced the allowed base return on equity (ROE) for MISO tariff from 10.02% to 9.98%, impacting revenues and interest expenses. Ameren Illinois is appealing a recent Illinois Commerce Commission (ICC) order regarding its allowed ROE.

Overall, while Ameren Illinois Company experienced revenue growth in the third quarter, profitability declined, reflecting challenges in market conditions and increased operational costs. The company continues to focus on strategic investments and regulatory adjustments to enhance its financial performance moving forward.