Transforming For Our Future
Earnings and Guidance Summary
• Remain focused on safety and executing strategic plan
• Key Q1 earnings variance drivers
↑ Earnings on increased infrastructure investments across all business
segments
↑ Higher Ameren Missouri electric retail sales primarily driven by
weather
↑ Absence of FERC order on historical recovery of materials and
supplies inventories
↑ Higher allowed return on equity at Ameren Illinois Electric Distribution
✓ Higher Ameren Missouri and Ameren Illinois Natural Gas other
operations and maintenance expenses driven, in part, by unfavorable
market returns on COLI investments
Affirm expected 2022 EPS range of $3.95 to $4.15
Diluted EPS
Q1 2021 vs. Q1 2022
$0.91
$0.97
First Quarter 2022 Earnings | May 6, 2022
2021
2022
Ameren
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