logo
CIVI INVESTOR ALERT: Civitas Resources, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit

CIVI INVESTOR ALERT: Civitas Resources, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit

SAN DIEGO, May 19, 2025 /PRNewswire/ — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Civitas Resources, Inc. (NYSE: CIVI) securities between February 27, 2024 and February 24, 2025, inclusive (the 'Class Period'), have until Tuesday, July 1, 2025 to seek appointment as lead plaintiff of the Civitas Resources class action lawsuit. Captioned Lin v. Civitas Resources, Inc., No. 25-cv-03791 (D.N.J.), the Civitas Resources class action lawsuit charges Civitas Resources and certain of Civitas Resources' top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Civitas Resources class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-civitas-resources-inc-class-action-lawsuit-civi.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Civitas Resources is an exploration and production company that focuses on the acquisition, development, and production of crude oil and associated liquids-rich natural gas from its assets in the Denver–Julesburg ('DJ') Basin in Colorado and the Permian Basin in Texas and New Mexico. According to the complaint, throughout 2024, Civitas Resources maintained steady oil production and accelerated the number of Civitas Resources' turned-in-lines ('TILs') – i.e., newly drilled oil wells that have been designated as operational and added to the total number of wells in which Civitas Resources owns a working interest – between the DJ and Permian Basins.
The Civitas Resources class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Civitas Resources was highly likely to significantly reduce its oil production in 2025 as a result of, among other things, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (ii) increasing its oil production would require Civitas Resources to acquire additional acreage and development locations, thereby incurring significant debt and causing Civitas Resources to sell corporate assets to offset its acquisition costs; (iii) Civitas Resources' financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; and (iv) accordingly, Civitas Resources' business and/or financial prospects, as well as its operational capabilities, were overstated.
The Civitas Resources class action lawsuit further alleges that on February 24, 2025, Civitas Resources announced its financial results for the fourth quarter and full year 2024, reporting revenue of $1.29 billion, missing consensus estimates by $3.44 million, and non-GAAP earnings per share of $1.78 for the quarter, missing consensus estimates by $0.21 per share. According to the complaint, also on February 24, 2025, Civitas Resources revealed several 2025 outlook highlights, including '[d]elivering oil production between 150 and 155 thousand barrels per day ('MBbl/d') on average,' – a year-over-year decline of approximately 4% –'[e]xpanding [its] Permian Basin position with a $300 million bolt-on transaction that adds 19,000 net acres and approximately 130 future development locations in the Midland Basin,' and '[e]xecuting on [a] new divestment target of $300 million' meant to offset the foregoing transaction. Civitas Resources explained that '[a]s compared to the fourth quarter of 2024, lower volumes are primarily driven by the DJ Basin, due to natural declines following peak production in the fourth quarter, a low TIL count exiting 2024 and in the first quarter of 2025,' as well as severe winter weather and unplanned third-party processing downtime in the first quarter, the Civitas Resources class action lawsuit alleges. Civitas Resources additionally announced a 10% reduction in its workforce across all levels and the termination of its Chief Operating Officer and Chief Transformation Officer, according to the complaint. On this news, the price of Civitas Resources stock fell more than 18%, according to the Civitas Resources class action lawsuit.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Civitas Resources securities during the Class Period to seek appointment as lead plaintiff in the Civitas Resources class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Civitas Resources class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Civitas Resources class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Civitas Resources class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
Contact:
Robbins Geller Rudman & Dowd LLPJ.C. Sanchez, Jennifer N. Caringal655 W. Broadway, Suite 1900, San Diego, CA 92101800-449-4900info@rgrdlaw.com
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dana Incorporated to Announce 2025 Second-quarter Financial Results, Host Conference Call and Webcast on August 5
Dana Incorporated to Announce 2025 Second-quarter Financial Results, Host Conference Call and Webcast on August 5

Malaysian Reserve

time18 minutes ago

  • Malaysian Reserve

Dana Incorporated to Announce 2025 Second-quarter Financial Results, Host Conference Call and Webcast on August 5

MAUMEE, Ohio, July 31, 2025 /PRNewswire/ — Dana Incorporated (NYSE: DAN) will release its 2025 second-quarter financial results on Tuesday, August 5, 2025. A press release will be issued at approximately 7 a.m. EDT, followed by a conference call and webcast at 9 a.m. EDT. Members of the company's senior management team will be available at that time to discuss the results and answer related questions. The conference call can be accessed by telephone from both domestic and international locations using the information provided below: Conference ID: 9943139Participant Toll-Free Dial-In Number: 1 (888) 440-5873Participant Toll Dial-In Number: 1 (646) 960-0319 Audio streaming and slides will be available online via a link provided on the Dana investor website: A webcast replay can be accessed via Dana's investor website following the call. About Dana IncorporatedDana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions. Based in Maumee, Ohio, USA, the company reported sales of $10.3 billion in 2024 with 39,000 people in 30 countries across six continents. With a history dating to 1904, Dana was named among the 'World's Most Ethical Companies' for 2025 by Ethisphere and as one of 'America's Most Responsible Companies 2025' by Newsweek. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer. Learn more at

Broadway Financial Corporation Announces Results of Operations for Second Quarter 2025
Broadway Financial Corporation Announces Results of Operations for Second Quarter 2025

Malaysian Reserve

timean hour ago

  • Malaysian Reserve

Broadway Financial Corporation Announces Results of Operations for Second Quarter 2025

LOS ANGELES, July 31, 2025 /PRNewswire/ — Broadway Financial Corporation ('Broadway', 'we', or the 'Company') (NASDAQ: BYFC), parent company of City First Bank, National Association (the 'Bank', and collectively, with the Company, 'City First Broadway'), reported consolidated net income before preferred dividends of $603 thousand, or $0.07 per diluted share, for the second quarter of 2025, compared to consolidated net income of $269 thousand, or $0.03 per diluted share, for the second quarter of 2024. Net loss attributable to common stockholders was $147 thousand during the second quarter of 2025 after deducting preferred dividends of $750 thousand, compared to net income attributable to common stockholders of $269 thousand for the second quarter of 2024. Diluted loss per common share was ($0.02) for the second quarter of 2025, compared to $0.03 of income per diluted common share for the second quarter of 2024. Diluted loss per common share for the second quarter of 2025 reflects preferred dividends of $0.09 per diluted common share. For the first six months of 2025, the Company reported consolidated net loss before preferred dividends of $1.3 million, or ($0.15) per diluted share, compared to consolidated net income before preferred dividends of $105 thousand, or $0.01 per diluted share, for the first six months of 2024. Net loss attributable to common stockholders was $2.8 million during the first six months of 2025 after deducting preferred dividends of $1.5 million, compared to net income attributable to common stockholders of $105 thousand for the first six months of 2024. Diluted loss per common share was ($0.32) for the first six months of 2025, compared to $0.01 per diluted common share for the first six months of 2024. Diluted loss per common share for the first six months of 2025 reflects preferred dividends of $0.18 per diluted common share. Second Quarter 2025 Highlights: The net interest margin increased by 22 basis points to 2.63% for the second quarter of 2025, compared to 2.41% for the second quarter of 2024. This increase was driven largely by growth in the yield on average loan balances and a reduction in the cost of interest-bearing liabilities Total deposits increased by $53.5 million, or 7.2%, during the first six months of 2025 compared to December 31, 2024 Capital ratios remain strong with a Community Bank Leverage Ratio of 15.69% at June 30, 2025 compared to 13.96% at December 31, 2024 Credit quality remains strong with non-accrual loans to total loans at 0.42% and non-performing loans to total assets at 0.36% Borrowings were $69.2 million at June 30, 2025 compared to $195.5 million at December 31, 2024, a reduction of $126.3 million, or 64.6% Chief Executive Officer, Brian Argrett commented, 'We had a favorable second quarter of 2025, and continue to build on this positive momentum. Deposits grew by 2.9%, or $22.4 million, since March 31, 2025 and 7.18%, or $53.5 million, this year. We reduced borrowings by $126.3 million to $69.2 million as of June 30, 2025 resulting in lower cost of funds. The net interest margin was 2.63% for the three months ended June 30, 2025, which is an improvement of 22 basis points compared to the same three-month period of last year.' 'Our results for the second quarter of 2025 were positively impacted by a reduction in non-interest expense of 26.23%, or $2.7 million, since last quarter, mainly due to the operational loss associated with the $1.9 million fraudulent wire during the first quarter, which will result in a corresponding gain if recovered. In addition, our second quarter financial results were positively impacted by a reduction in the provision for loan losses of $266 thousand, mainly due to a decrease in loans.' 'We remain focused on executing our strategic goals and mission objectives, building a stronger balance sheet and improving profitability in order to drive long-term performance that will help support growth in the low-to-moderate income communities within our markets.' 'As always, I thank our employees for their endless dedication and our stockholders, depositors, and board for their continued support of our strategy and mission. Your support and efforts are essential in our ability to improve our efficiency and promote growth.' Income Statement Net Interest Income before provision for credit losses for the second quarter of 2025 totaled $7.8 million, representing a decrease of $163 thousand, or 2.1%, from net interest income before provision for credit losses of $7.9 million for the second quarter of 2024. The decrease resulted from a $1.3 million decrease in interest income, primarily due to a decrease in interest on interest-bearing deposits, as a result of a decrease in the average balance of interest-bearing deposits, as well as a decline in interest income on available-for-sale securities due to a decrease in the average balance of available-for-sale securities. These decreases were partially offset by a $1.1 million decrease in interest expense due to a decline in interest on borrowings as a result of a decrease in the average balance of borrowings. The Company reduced borrowings to improve the net interest margin and to support capacity for future loan net interest margin increased to 2.63% for the second quarter of 2025 from 2.41% for the second quarter of 2024, due to an increase in the average rate earned on interest-earning assets, which increased to 4.83% for the second quarter of 2025 from 4.71% for the second quarter of 2024, and a decrease in the cost of funds, which decreased to 3.07% for the second quarter of 2025 from 3.19% for the second quarter of Interest Income before provision for credit losses for the first six months of 2025 totaled $15.8 million, representing an increase of $358 thousand, or 2.3%, from net interest income before provision for credit losses of $15.4 million for the first six months of 2024. The increase resulted from a $2.0 million decrease in interest expense due to a decline in interest on borrowings as a result of a decrease in the average balance of borrowings. The Company reduced borrowings to improve the net interest margin and to support capacity for future loan growth. This increase was partially offset by a $1.7 million decrease in interest income, primarily due to a decrease in interest on interest-bearing deposits, as a result of a decrease in the average balance of interest-bearing deposits, as well as a decline in interest income on available-for-sale securities due to a decrease in the average balance of available-for-sale net interest margin increased to 2.67% for the first six months of 2025 from 2.34% for the first six months of 2024, due to an increase in the average rate earned on interest-earnings assets, which increased to 4.83% for the first six months of 2025 from 4.59% for the first six months of 2024, and a decrease in the cost of funds, which decreased to 3.02% for the first six months of 2025 from 3.11% for the first six months of 2024. Recapture of/Provision for Credit Losses resulted in a recapture of credit losses of $266 thousand for the three months ended June 30, 2025, compared to a provision for credit losses of $494 thousand for the three months ended June 30, 2024. This recapture was mainly due to the decrease in Provision for Credit Losses was $423 thousand for the six months ended June 30, 2025, compared to $754 thousand for the six months ended June 30, 2024. There were no loan charge-offs recorded during the six months ended June 30, 2025 or allowance for credit losses ('ACL') increased to $8.6 million as of June 30, 2025, compared to $8.1 million as of December 31, 2024. The Bank had four non-accrual loans at June 30, 2025 with an unpaid principal balance of $4.0 million. Credit quality remains strong with non-accrual loans as a percentage of total loans at 0.42% and non-performing assets to total assets of 0.36% despite the increase in non-accrual loans. Non-interest Expense was $7.5 million for the second quarter of 2025, compared to $7.3 million for the second quarter of 2024, representing an increase of $242 thousand, or 3.3%. The increase was primarily due to increases of $224 thousand in professional services and $112 thousand in information services, partially offset by a $60 thousand decrease in supervisory costs and a $57 thousand decrease in compensation and benefits Expense was $17.7 million for the first six months of 2025, compared to $15.1 million for the first six months of 2024, representing an increase of $2.6 million, or 17.4%. The increase was primarily due to a $1.9 million loss incurred from wire fraud, which will result in a gain if recovered, as well as an $830 thousand increase in compensation and benefits expense. The increase in compensation and benefits expense was primarily attributable to the addition of full-time employees during 2024 in various production and administrative positions as part of the Bank's efforts to expand its operational capabilities to grow its balance sheet. These increases were partially offset by a $485 thousand decrease in professional services expense. Income Tax Expense was $257 thousand for the second quarter of 2025 compared to $146 thousand for the second quarter of 2024. The increase in tax expense reflected an increase of $437 thousand in pre-tax income between the two periods. The effective tax rate was 30.09% for the second quarter of 2025, compared to 35.01% for the second quarter of Company recorded an income tax benefit of $435 thousand for the first six months of 2025 and income tax expense of $89 thousand for the first six months of 2024. The decrease in tax expense reflected a decrease of $1.9 million in pre-tax income between the two periods. The effective tax rate was 25.60% for the first six months of 2025, compared to 50.28% for the first six months of 2024. Balance Sheet Total Assets decreased by $76.3 million at June 30, 2025, compared to December 31, 2024, reflecting decreases in cash and cash equivalents of $31.9 million, securities available-for-sale of $25.9 million, net loans of $11.6 million and FHLB stock of $5.9 million. The reduction in securities available-for-sale was mainly due to maturities and paydowns, and the cash from the securities in addition to the cash on hand was used to reduce borrowings, leading to the decrease in stock held with FHLB. Loans Held for Investment, Net of the ACL, decreased by $11.6 million to $957.3 million at June 30, 2025, compared to $968.9 million at December 31, 2024. The decrease was primarily due to loan payoffs and repayments. Deposits increased by $53.5 million, or 7.2%, to $798.9 million at June 30, 2025, from $745.4 million at December 31, 2024. The increase in deposits was attributable to an increase of $67.7 million in certificates of deposit accounts, partially offset by decreases of $4.5 million in savings deposits, $3.5 million in Certificate of Deposit Registry Service ('CDARS') deposits (CDARS deposits are similar to ICS deposits, but involve certificates of deposit, instead of money market accounts), $3.3 million in liquid deposits (demand, interest checking, and money market accounts), and $2.9 million in Insured Cash Sweep ('ICS') deposits (ICS deposits are the Bank's money market deposit accounts in excess of FDIC insured limits whereby the Bank makes reciprocal arrangements for insurance with other banks). As of June 30, 2025, our uninsured deposits, including deposits from City First Bank and other affiliates, represented 35% of our total deposits, compared to 32% as of December 31, 2024. We leverage our long-standing partnership with IntraFi Deposit Solutions to offer deposit insurance for accounts exceeding the FDIC deposit insurance limit of $250,000. Total Borrowings decreased by $129.1 million to $133.0 million at June 30, 2025, from $262.1 million at December 31, 2024, primarily due to a $135.3 million decrease in FHLB advances, partially offset by a $9.2 million increase in secured borrowings related to participation loans. Asset Quality Allowance for Credit Losses was 0.89% of total loans held for investment at June 30, 2025, compared to 0.83% at December 31, 2024. Nonperforming Assets were $4.4 million at June 30, 2025, compared to $264 thousand at December 31, 2024. Capital Stockholders' equity was $285.5 million, or 23.3% of the Company's total assets, at June 30, 2025, compared to $285.2 million, or 21.9% of the Company's total assets, at December 31, 2024. Book Value per Share was $14.74 at June 30, 2025, compared to $14.82 at December 31, 2024. Capital ratios remain strong with a Community Bank Leverage Ratio of 15.69% at June 30, 2025 compared to 13.96% at December 31,2024. About Broadway Financial Corporation Broadway Financial Corporation operates through its wholly-owned banking subsidiary, City First Bank, National Association, which is a leading mission-driven bank that serves low-to-moderate income communities within urban areas in Southern California and the Washington, D.C. market. City First Bank offers a variety of commercial real estate loan products, services, and depository accounts that support investments in affordable housing, small businesses, and nonprofit community facilities located within low-to-moderate income neighborhoods. City First Bank is a Community Development Financial Institution, Minority Depository Institution, Certified B Corp, and a member of the Global Alliance of Banking on Values. The Bank and the City First network of nonprofits, City First Enterprises, Homes By CFE, and City First Foundation, represent the City First branded family of community development financial institutions, which offer a robust lending and deposit platform. Contacts Investor RelationsZack Ibrahim, Chief Financial Officer, (202) Cautionary Statement Regarding Forward-Looking Information This press release includes 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations and capital allocation and structure, are forward-looking statements. Forward‑looking statements typically include the words 'expect,' 'estimate,' 'project,' 'budget,' 'forecast,' 'anticipate,' 'intend,' 'plan,' 'may,' 'will,' 'could,' 'should,' 'believes,' 'predicts,' 'potential,' 'continue,' 'poised,' 'optimistic,' 'prospects,' 'ability,' 'looking,' 'forward,' 'invest,' 'grow,' 'improve,' 'deliver' and similar expressions, but the absence of such words or expressions does not mean a statement is not forward-looking. These forward‑looking statements are subject to risks and uncertainties, including those identified below, which could cause actual future results to differ materially from historical results or from those anticipated or implied by such statements. The following factors, among others, could cause future results to differ materially from historical results or from those indicated by forward‑looking statements included in this press release: (1) the level of demand for mortgage and commercial loans, which is affected by such external factors as general economic conditions, market interest rate levels, tax laws, and the demographics of our lending markets; (2) the direction and magnitude of changes in interest rates and the relationship between market interest rates and the yield on our interest‑earning assets and the cost of our interest‑bearing liabilities; (3) the rate and amount of loan losses incurred and projected to be incurred by us, increases in the amounts of our nonperforming assets, the level of our loss reserves and management's judgments regarding the collectability of loans; (4) changes in the regulation of lending and deposit operations or other regulatory actions, whether industry-wide or focused on our operations, including increases in capital requirements or directives to increase allowances for loan losses or make other changes in our business operations; (5) legislative or regulatory changes, including those that may be implemented by the current administration in Washington, D.C. and the Federal Reserve Board; (6) possible adverse rulings, judgments, settlements and other outcomes of litigation; (7) actions undertaken by both current and potential new competitors; (8) the possibility of adverse trends in property values or economic trends in the residential and commercial real estate markets in which we compete; (9) the effect of changes in general economic conditions; (10) the effect of geopolitical uncertainties; (11) the impact of health crises on our future financial condition and operations; (12) the impact of any volatility in the banking sector due to the failure of certain banks due to high levels of exposure to liquidity risk, interest rate risk, uninsured deposits and cryptocurrency risk; and (13) other risks and uncertainties. All such factors are difficult to predict and are beyond our control. Additional factors that could cause results to differ materially from those described above can be found in our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K or other filings made with the SEC and are available on our website at and on the SEC's website at Forward-looking statements in this press release speak only as of the date they are made, and we undertake no obligation, and do not intend, to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except to the extent required by law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The following table sets forth the consolidated statements of financial condition as of June 30, 2025 and December 31, 2024. BROADWAY FINANCIAL CORPORATION Consolidated Statements of Financial Condition (In thousands, except share and per share amounts) June 30, 2025 December 31, 2024 (Unaudited) Assets: Cash and due from banks $ 1,955 $ 2,255 Interest-bearing deposits in other banks 27,559 59,110 Cash and cash equivalents 29,514 61,365 Securities available-for-sale, at fair value (amortized cost of $190,030 and $219,658) 177,977 203,862 Loans receivable held for investment, net of allowance of $8,582 and $8,103 957,293 968,861 Accrued interest receivable 5,109 5,001 Federal Home Loan Bank (FHLB) stock 3,761 9,637 Federal Reserve Bank (FRB) stock 3,543 3,543 Office properties and equipment, net 8,721 8,899 Bank owned life insurance 3,343 3,321 Deferred tax assets, net 8,268 8,803 Core deposit intangible, net 1,618 1,775 Goodwill 25,858 25,858 Other assets 2,387 2,786 Total assets $ 1,227,392 $ 1,303,711 Liabilities and stockholders' equity Liabilities: Deposits $ 798,922 $ 745,399 Securities sold under agreements to repurchase 63,786 66,610 Borrowings 69,217 195,532 Accrued expenses and other liabilities 9,712 10,794 Total liabilities 941,637 1,018,335 Stockholders' equity: Non-Cumulative Redeemable Perpetual Preferred stock, Series C; authorized 150,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding 150,000 shares at June 30, 2025 and December 31, 2024; liquidation value $1,000 per share 150,000 150,000 Common stock, Class A, $0.01 par value, voting; authorized 75,000,000 shares at June 30, 2025 and December 31, 2024; issued 6,425,001 shares at June 30, 2025 and 6,349,455 shares at December 31, 2024; outstanding 6,097,773 shares at June 30, 2025 and 6,022,227 shares at December 31, 2024 64 63 Common stock, Class B, $0.01 par value, non-voting; authorized 15,000,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding 1,425,574 shares at June 30, 2025 and December 31, 2024 14 14 Common stock, Class C, $0.01 par value, non-voting; authorized 25,000,000 shares at June 30, 2025 and December 31, 2024; issued and outstanding 1,672,562 at June 30, 2025 and December 31, 2024 17 17 Additional paid-in capital 143,266 142,902 Retained earnings 10,156 12,911 Unearned Employee Stock Ownership Plan (ESOP) shares (4,089) (4,201) Accumulated other comprehensive loss, net of tax (8,557) (11,223) Treasury stock-at cost, 327,228 shares at June 30, 2025 and at December 31, 2024 (5,326) (5,326) Total Broadway Financial Corporation and Subsidiary stockholders' equity 285,545 285,157 Non-controlling interest 210 219 Total liabilities and stockholders' equity $ 1,227,392 $ 1,303,711 The following table sets forth the consolidated statements of operations for the three and six months ended June 30, 2025 and 2024. BROADWAY FINANCIAL CORPORATION Consolidated Statements of Operations (In thousands, except share and per share amounts) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 ‌ Interest income: Interest and fees on loans receivable $ 12,658 $ 12,179 $ 25,348 $ 23,308 Interest on available-for-sale securities 1,171 1,876 2,379 3,951 Other interest income 401 1,433 877 3,022 Total interest income 14,230 15,488 28,604 30,281 ‌ Interest expense: Interest on deposits 4,879 3,086 9,078 5,885 Interest on borrowings 1,596 4,484 3,726 8,954 Total interest expense 6,475 7,570 12,804 14,839 Net interest income 7,755 7,918 15,800 15,442 (Recapture of) provision for credit losses (266) 494 423 754 Net interest income after (recapture of) provision for credit losses 8,021 7,424 15,377 14,688 ‌ Non-interest income: Service charges 41 38 84 78 Grants 105 – 131 – Other 209 235 428 501 Total non-interest income 355 273 643 579 ‌ Non-interest expense: Compensation and benefits 4,412 4,469 9,696 8,866 Occupancy expense 485 432 1,025 867 Information services 775 663 1,480 1,370 Professional services 787 563 1,488 1,973 Advertising and promotional expense 61 63 107 91 Supervisory costs 156 216 349 393 Corporate insurance 66 64 133 125 Amortization of core deposit intangible 79 84 157 168 Operational loss – – 1,943 – Other expense 701 726 1,341 1,237 Total non-interest expense 7,522 7,280 17,719 15,090 ‌ Income (loss) before income taxes 854 417 (1,699) 177 Income tax expense (benefit) 257 146 (435) 89 Net income (loss) $ 597 $ 271 $ (1,264) $ 88 Less: Net (loss) income attributable to non-controlling interest (6) 2 (9) (17) Net income (loss) attributable to Broadway Financial Corporation $ 603 $ 269 $ (1,255) $ 105 Less: Preferred stock dividends 750 – 1,500 – ‌ Net (loss) income attributable to common stockholders $ (147) $ 269 $ (2,755) $ 105 ‌ (Loss) earnings per common share-basic $ (0.02) $ 0.03 $ (0.32) $ 0.01 (Loss) earnings per common share-diluted $ (0.02) $ 0.03 $ (0.32) $ 0.01 The following tables set forth the average balances, average yields and costs for the periods indicated. All average balances are daily average balances. The yields set forth below include the effect of deferred loan fees, and discounts and premiums that are amortized or accreted to interest income or expense. For the Three Months Ended June 30, 2025 June 30, 2024 (Dollars in thousands) (Unaudited) Average Balance Interest Average Yield Average Balance Interest Average Yield Assets Interest-earning assets: Interest-earning deposits $ 24,132 $ 266 4.42 % $ 88,294 $ 1,189 5.42 % Securities 182,351 1,171 2.58 % 276,457 1,876 2.73 % Loans receivable (1) 968,028 12,658 5.24 % 943,072 12,179 5.19 % FRB and FHLB stock (2) 7,473 135 7.25 % 13,835 244 7.09 % Total interest-earning assets 1,181,984 $ 14,230 4.83 % 1,321,658 $ 15,488 4.71 % Non-interest-earning assets 49,786 53,207 Total assets $ 1,231,770 $ 1,375,165 ‌ Liabilities and Stockholders' Equity Interest-bearing liabilities: Money market deposits $ 133,930 $ 336 1.01 % $ 274,915 $ 1,623 2.37 % Savings deposits 46,762 61 0.52 % 57,684 102 0.71 % Interest checking and other demand deposits 251,146 1,975 3.15 % 73,853 166 0.90 % Certificate accounts 270,424 2,507 3.72 % 163,237 1,195 2.94 % Total deposits 702,262 4,879 2.79 % 569,689 3,086 2.18 % Borrowings 72,962 710 3.90 % 209,261 2,593 4.98 % Bank Term Funding Program borrowing – – – % 100,000 1,210 4.87 % Other borrowings 69,722 886 5.10 % 74,523 681 3.68 % Total borrowings 142,684 1,596 4.49 % 383,784 4,484 4.70 % Total interest-bearing liabilities 844,946 $ 6,475 3.07 % 953,473 $ 7,570 3.19 % Non-interest-bearing liabilities 101,670 139,900 Stockholders' equity 285,154 281,792 Total liabilities and stockholders' equity $ 1,231,770 $ 1,375,165 ‌ Net interest rate spread (3) $ 7,755 1.76 % $ 7,918 1.52 % Net interest rate margin (4) 2.63 % 2.41 % Ratio of interest-earning assets to interest-bearing liabilities 139.89 % 138.62 % (1) Amount includes non-accrual loans. (2) FHLB is Federal Home Loan Bank. (3) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (4) Net interest rate margin represents net interest income as a percentage of average interest-earning assets. For the Six Months Ended June 30, 2025 June 30, 2024 (Dollars in thousands) (Unaudited) Average Balance Interest Average Yield Average Balance Interest Average Yield Assets Interest-earning assets: Interest-earning deposits $ 26,532 $ 578 4.39 % $ 97,640 $ 2,533 5.22 % Securities 189,368 2,379 2.53 % 290,721 3,951 2.73 % Loans receivable (1) 970,241 25,348 5.27 % 925,443 23,308 5.06 % FRB and FHLB stock (2) 9,320 299 6.47 % 13,777 489 7.14 % Total interest-earning assets 1,195,461 $ 28,604 4.83 % 1,327,581 $ 30,281 4.59 % Non-interest-earning assets 50,061 51,988 Total assets $ 1,245,512 $ 1,379,569 ‌ Liabilities and Stockholders' Equity Interest-bearing liabilities: Money market deposits $ 126,557 $ 593 0.94 % $ 272,290 $ 3,065 2.26 % Savings deposits 47,732 129 0.54 % 58,377 204 0.70 % Interest checking and other demand deposits 253,384 3,886 3.09 % 78,772 311 0.79 % Certificate accounts 247,498 4,470 3.64 % 164,319 2,305 2.82 % Total deposits 675,171 9,078 2.71 % 573,758 5,885 2.06 % FHLB advances 106,106 2,239 4.26 % 209,280 5,191 4.99 % Bank Term Funding Program borrowing – – – % 100,000 2,413 4.85 % Other borrowings 73,237 1,487 4.09 % 76,688 1,350 3.45 % Total borrowings 179,343 3,726 4.19 % 385,968 8,954 4.67 % Total interest-bearing liabilities 854,514 $ 12,804 3.02 % 959,726 $ 14,839 3.11 % Non-interest-bearing liabilities 105,111 138,012 Stockholders' equity 285,887 281,831 Total liabilities and stockholders' equity $ 1,245,512 $ 1,379,569 Net interest rate spread (3) $ 15,800 1.80 % $ 15,442 1.48 % Net interest rate margin (4) 2.67 % 2.34 % Ratio of interest-earning assets to interest-bearing liabilities 139.90 % 138.33 % (1) Amount includes non-accrual loans. (2) FHLB is Federal Home Loan Bank. (3) Net interest rate spread represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities. (4) Net interest rate margin represents net interest income as a percentage of average interest-earning assets. BROADWAY FINANCIAL CORPORATION AND SUBSIDIARY Selected Financial Data and Ratios (Unaudited) (Dollars in thousands, except per share data) Three Months Ended Six Months Ended June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 June 30,2025 June 30, 2024 Balance Sheets: Total gross loans 965,875 980,005 976,964 975,315 946,840 965,785 946,840 Allowance for credit losses 8,582 8,774 8,103 8,527 8,104 8,582 8,104 Investment securities 177,977 185,938 203,862 238,489 261,454 177,977 261,454 Total assets 1,227,392 1,238,019 1,303,711 1,373,055 1,367,290 1,227,392 1,367,290 Total deposits 798,922 776,543 745,399 672,248 687,369 798,922 687,369 Total shareholders' equity 285,545 284,581 285,157 286,392 282,293 285,545 282,293 ‌ Profitability: Interest income 14,230 14,374 15,762 16,166 15,488 28,604 30,281 Interest expense 6,475 6,329 7,765 7,836 7,570 12,804 14,839 Net interest income 7,755 8,045 7,997 8,330 7,918 15,800 15,442 (Recovery of) provision for credit losses (266) 689 (489) 399 494 423 754 Non-interest income 355 288 560 416 273 643 579 Non-interest expenses 7,522 10,197 7,210 7,594 7,280 17,719 15,090 Income (loss) before income taxes 854 (2,553) 1,836 753 417 (1,699) 177 Income tax expense (benefit) 257 (692) 516 209 146 (435) 89 Net income (loss) 597 (1,861) 1,320 544 271 (1,264) 88 Less: Net (loss) income attributable to non-controlling interest (6) (3) 20 22 2 (9) (17) Net income (loss) attributable to Broadway Financial Corporation 603 (1,858) 1,300 522 269 (1,255) 105 Less: Preferred stock dividends 750 750 750 750 – 1,500 – Net (loss) income attributable to common stockholders (147) (2,608) 550 (228) 269 (2,755) 105 ‌ Financial Performance: Return on average assets (annualized) (0.05 %) (0.84 %) 0.16 % (0.07 %) 0.08 % (0.45 %) 0.02 % Return on average equity (annualized) (0.21 %) (3.69 %) 0.77 % (0.32 %) 0.38 % (1.94 %) 0.08 % Net interest margin 2.63 % 2.70 % 2.42 % 2.49 % 2.41 % 2.67 % 2.34 % Efficiency ratio 92.75 % 122.37 % 84.26 % 86.83 % 88.88 % 107.76 % 94.19 % ‌ Per Share Data: Book value per share 14.74 14.58 14.82 14.97 14.49 14.74 14.49 Weighted average common shares (basic) 8,622,891 8,547,460 8,459,460 8,520,730 8,394,367 8,557,745 8,308,359 Weighted average common shares (diluted) 8,622,891 8,547,460 8,638,660 8,684,296 8,596,985 8,557,745 8,513,262 Common shares outstanding at end of period 9,195,909 9,231,180 9,120,363 9,112,777 9,131,979 9,195,909 9,131,979 ‌ Financial Measures: Loans to assets 78.69 % 79.16 % 74.94 % 71.03 % 69.25 % 78.69 % 69.25 % Loans to deposits 120.90 % 126.20 % 131.07 % 145.08 % 137.75 % 120.90 % 137.75 % Allowance for credit losses to total loans 0.89 % 0.90 % 0.83 % 0.87 % 0.86 % 0.89 % 0.86 % Allowance for credit losses to total nonperforming loans 192.98 % 1020.23 % 3069.32 % 2930.24 % 2470.73 % 192.98 % 2470.73 % Non-accrual loans to total loans 0.42 % 0.09 % 0.03 % 0.03 % 0.03 % 0.42 % 0.03 % Nonperforming loans to total assets 0.36 % 0.07 % 0.02 % 0.02 % 0.02 % 0.36 % 0.02 % Net charge-offs (recoveries) (annualized) to average total loans – – – – – – – ‌ Average Balance Sheets: Total loans 968,028 972,479 976,873 963,849 943,072 970,241 925,443 Investment securities 182,351 196,463 222,879 248,833 276,457 189,368 290,721 Total assets 1,231,770 1,259,448 1,363,572 1,382,066 1,375,165 1,245,512 1,379,569 Total interest-bearing deposits 702,262 647,777 622,217 570,512 569,689 675,171 573,758 Total shareholders' equity 285,154 286,629 285,775 284,343 281,792 285,887 281,831

Ameren Announces Second Quarter 2025 Results
Ameren Announces Second Quarter 2025 Results

Malaysian Reserve

timean hour ago

  • Malaysian Reserve

Ameren Announces Second Quarter 2025 Results

Second Quarter Diluted Earnings Per Share were $1.01 in 2025 vs. $0.97 in 2024 Reaffirm 2025 Diluted EPS Guidance Range of $4.85 to $5.05 Per Share ST. LOUIS, July 31, 2025 /PRNewswire/ — Ameren Corporation (NYSE: AEE) today announced second quarter 2025 net income attributable to common shareholders of $275 million, or $1.01 per diluted share, compared to second quarter 2024 net income of $258 million, or $0.97 per diluted share. Second quarter 2025 earnings reflected increased infrastructure investments, new Ameren Missouri electric service rates that became effective June 1, 2025, and continued disciplined cost management. These positive factors were partially offset by higher interest expense at Ameren Parent and Ameren Missouri and lower Ameren Missouri retail sales, primarily driven by near-normal temperatures in the second quarter of 2025 compared to warmer-than-normal temperatures in the prior-year period. Finally, the earnings per diluted share comparison reflected higher weighted-average basic common shares outstanding in the second quarter 2025. 'We are executing across all elements of our strategy, including by hardening the grid, expanding our balanced generation portfolio, and supporting economic development, ' said Martin J. Lyons, Jr., chairman, president and chief executive officer of Ameren Corporation. 'These efforts reinforce our commitment to investing in a reliable and resilient energy future that provides value for our customers and communities. We remain on track to deliver earnings within our 2025 earnings guidance range of $4.85 to $5.05 per share.' Ameren recorded GAAP net income attributable to common shareholders for the six months ended June 30, 2025, of $564 million, or $2.08 per diluted share, compared to GAAP net income attributable to common shareholders for the six months ended June 30, 2024, of $519 million, or $1.95 per diluted share. Excluding a prior year charge discussed below, Ameren recorded six month 2024 adjusted net income attributable to common shareholders of $530 million, or $1.99 per diluted share. The increase in year-over-year six month earnings reflected increased infrastructure investments, new Ameren Missouri electric service rates and higher Ameren Missouri electric retail sales. These positive factors were partially offset by higher interest expense at Ameren Missouri and Ameren Parent. A reconciliation of three-month and six-month GAAP to adjusted earnings is reflected in the table below. There were no adjustments to 2025 or second quarter 2024 earnings. A charge for additional mitigation relief related to Ameren Missouri's Rush Island Energy Center, which decreased first quarter 2024 earnings by $11 million, was excluded from adjusted six-month 2024 earnings. (In millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 GAAP Earnings / Diluted EPS $ 275 $ 1.01 $ 258 $ 0.97 $ 564 $ 2.08 $ 519 $ 1.95 Charge for additional mitigation relief related to Rush Island Energy Center $ — $ — $ — $ — $ — $ — $ 15 $ 0.05 Less: Federal income tax benefit — — — — — — (4) (0.01) Charge, net of tax benefit $ — $ — $ — $ — $ — $ — $ 11 $ 0.04 Adjusted Earnings / Diluted EPS $ 275 $ 1.01 $ 258 $ 0.97 $ 564 $ 2.08 $ 530 $ 1.99 Earnings Guidance Today, Ameren reaffirms its 2025 earnings per share guidance range of $4.85 to $5.05. Due to strong year-to-date performance, Ameren is well positioned to deliver 2025 earnings in the top half of its 2025 earnings guidance range. Earnings guidance for 2025 assumes normal temperatures for the last six months of the year and is subject to the effects of, among other things: regulatory, judicial and legislative actions; energy center and energy transmission and distribution operations; energy, economic, capital and credit market conditions; customer usage; severe storms; market returns on company-owned life insurance investments; unusual or otherwise unexpected gains or losses; and other risks and uncertainties outlined, or referred to, in the Forward-looking Statements section of this press release. Ameren Missouri Segment Results Ameren Missouri second quarter 2025 earnings were $150 million, compared to second quarter 2024 earnings of $128 million. The year-over-year increase reflected new electric service rates that became effective June 1, 2025, earnings on increased infrastructure investments and lower operations and maintenance expenses. These positive factors were partially offset by lower electric retail sales, primarily driven by near-normal temperatures in the second quarter of 2025 compared to warmer-than-normal temperatures in the prior-year period, and higher interest expense. Ameren Transmission Segment Results Ameren Transmission second quarter 2025 earnings were $86 million, compared to second quarter 2024 earnings of $79 million. Ameren Illinois Electric Distribution Segment Results Ameren Illinois Electric Distribution second quarter 2025 earnings were $64 million, compared to second quarter 2024 earnings of $61 million. Ameren Illinois Natural Gas Segment Results Ameren Illinois Natural Gas second quarter 2025 earnings were $10 million, compared to second quarter 2024 earnings of $6 million. Ameren Parent Results (includes items not reported in a business segment) Ameren Parent's second quarter 2025 loss was $35 million, compared to a second quarter 2024 loss of $16 million. The year-over-year comparison reflected higher interest expense. Analyst Conference Call Ameren will conduct a conference call for financial analysts at 9 a.m. Central Time on Friday, August 1, 2025, to discuss 2025 earnings, earnings guidance and other matters. Investors, the news media and the public may listen to a live broadcast of the call at by clicking on 'Webcast' under 'Latest Quarterly Results,' where an accompanying slide presentation will also be available. The conference call and presentation will be archived in the 'Investors' section of the website under 'Quarterly Earnings.' About Ameren St. Louis-based Ameren Corporation powers the quality of life for 2.5 million electric customers and more than 900,000 natural gas customers in a 64,000-square-mile area through its Ameren Missouri and Ameren Illinois rate-regulated utility subsidiaries. Ameren Illinois provides electric transmission and distribution service and natural gas distribution service. Ameren Missouri provides electric generation, transmission and distribution service, as well as natural gas distribution service. Ameren Transmission Company of Illinois develops, owns and operates rate-regulated regional electric transmission projects in the Midcontinent Independent System Operator, Inc (MISO). For more information, visit or follow us on X at @AmerenCorp, or Use of Non-GAAP Financial Measures In this release, Ameren has presented adjusted earnings and adjusted earnings per share, which are non-GAAP measures and may not be comparable to those of other companies. A reconciliation of GAAP to non-GAAP information is included in this release. Generally, adjusted earnings or losses include earnings or losses attributable to Ameren common shareholders and exclude income or loss from significant discrete items that management does not consider representative of ongoing earnings, such as the cumulative impact of the first and third quarter 2024 charges for additional mitigation relief related to an agreement in principle to settle the New Source Review (NSR) and Clean Air Act proceeding and a third quarter 2024 charge for customer refunds related to the Federal Energy Regulatory Commission's (FERC) October 2024 order on MISO's allowed base return on equity (ROE), both of which related to matters that had been ongoing for over ten years. Ameren uses adjusted earnings internally for financial planning and for analysis of performance. Ameren also uses adjusted earnings as the primary performance measurement when communicating with analysts and investors regarding our earnings results and outlook, as the company believes that adjusted earnings allow the company to more accurately compare its ongoing performance across periods. In providing adjusted earnings guidance, there could be differences between adjusted earnings and earnings prepared in accordance with GAAP as a result of our treatment of certain items, such as those described above. Forward-looking Statements Statements in this release not based on historical facts are considered 'forward-looking' and, accordingly, involve risks and uncertainties that could cause actual results to differ materially from those discussed. Although such forward-looking statements have been made in good faith and are based on reasonable assumptions, there is no assurance that the expected results will be achieved. These statements include (without limitation) statements as to future expectations, beliefs, plans, projections, strategies, targets, estimates, objectives, events, conditions, and financial performance. In connection with the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, we are providing this cautionary statement to identify important factors that could cause actual results to differ materially from those anticipated. The following factors, in addition to those discussed within Risk Factors in Ameren's Annual Report on Form 10-K for the year ended December 31, 2024, and elsewhere in this release and in our other filings with the Securities and Exchange Commission, could cause actual results to differ materially from management expectations suggested in such forward-looking statements: regulatory, judicial, or legislative actions, and any changes in regulatory policies and ratemaking determinations that may change regulatory recovery mechanisms, such as those that may result from Ameren Missouri's request with the Missouri Public Service Commission (MoPSC) to modify its existing large primary service tariff, Ameren Illinois' appeal of the December 2023 and 2024 Illinois Commerce Commission (ICC) orders for the multi-year rate plan (MYRP) electric distribution service regulatory rate review and June 2024 rehearing order to the Illinois Appellate Court for the Fifth Judicial District, Ameren Illinois' electric distribution service revenue requirement reconciliation adjustment request filed with the ICC in April 2025, Ameren Illinois' natural gas delivery service regulatory rate review filed with the ICC in January 2025, and the January and April 2025 appeals of FERC's October 2024 and March 2025 orders by the MISO transmission owners, including Ameren Missouri, Ameren Illinois, and Ameren Transmission Company of Illinois (ATXI); our ability to control costs and make substantial investments in our businesses, including our ability to recover costs and investments, and to earn our allowed ROEs, within frameworks established by our regulators, while maintaining affordability of services for our customers; the effect and duration of Ameren Illinois' election to utilize MYRPs for electric distribution service ratemaking effective for rates beginning in 2024, including the effect of the reconciliation cap on the electric distribution revenue requirement; the effect of Ameren Illinois' use of the performance-based formula ratemaking framework for its participation in electric energy-efficiency programs, and the related impact of the direct relationship between Ameren Illinois' ROE and the 30-year United States Treasury bond yields; the effect on Ameren Missouri of any customer rate caps or limitations on increasing the electric service revenue requirement pursuant to Ameren Missouri's election to use the plant-in-service accounting regulatory mechanism; Ameren Missouri's ability to construct and/or acquire wind, solar, and other renewable energy generation facilities and battery storage, as well as natural gas-fired and nuclear energy centers, extend the operating license for the Callaway Energy Center, retire fossil fuel-fired energy centers, and implement new or existing customer energy-efficiency programs, including any such construction, acquisition, retirement, or implementation in connection with its Smart Energy Plan, preferred resource plan, or emissions reduction goals, and to recover its cost of investment, a related return, and, in the case of customer energy-efficiency programs, any lost electric revenues in a timely manner, each of which is affected by the ability to obtain all necessary regulatory and project approvals, including certificates of convenience and necessity (CCNs) from the MoPSC or any other required approvals; Ameren Missouri's ability to earn and utilize or transfer federal production and investment tax credits related to renewable energy projects and nuclear energy production; the cost of wind, solar, and other renewable generation and battery storage technologies; and our ability to obtain timely interconnection agreements with the MISO or other regional transmission organizations at an acceptable cost for each facility; the outcome of the MISO long-range transmission planning process, including changes to planned projects, the ability to secure competitively bid or assigned projects and related approvals, including CCNs from the MoPSC and ICC or any other required approvals, and changes in applicable legislative or regulatory frameworks; the inability of our counterparties to meet their obligations with respect to contracts, credit agreements, and financial instruments, including as they relate to the construction and acquisition of electric and natural gas utility infrastructure and the ability of counterparties to complete projects, which is dependent upon the availability of necessary materials and equipment, including those obligations that are affected by supply chain disruptions; advancements in energy technologies, including carbon capture, utilization, and sequestration, hydrogen fuel for electric production and energy storage, next generation nuclear, and large-scale long-cycle battery energy storage, and the impact of federal and state energy and economic policies with respect to those technologies; the effects of changes in federal, state, or local laws and other domestic or international governmental actions, including monetary, fiscal, foreign trade, and energy policies, foreign trade tariffs, executive orders, or extended federal government shutdowns or defunding; the effects of changes in federal, state, or local tax laws or rates; additional regulations, interpretations, amendments, or technical corrections to, or in connection with the One Big Beautiful Bill Act (OBBBA) and the Inflation Reduction Act of 2022 (IRA), including the effects of the OBBBA as it relates to construction timelines of solar and wind projects along with the ability to obtain materials for these projects to be eligible for federal production and investment tax credits, and the effects of the IRA as it relates to the 15% minimum tax on adjusted financial statement income; and any challenges to the tax positions we have taken, as well as resulting effects on customer rates and the recoverability of the minimum tax imposed under the IRA; our ability to realize forecasted energy demand from potential new customers, including demand growth dependent on the decisions of potential new large primary service customers to locate their operations within our service territories; the effects on energy prices and demand for our services resulting from customer growth patterns or usage, including demand from data centers, technological advances, including advances in customer energy efficiency, electric vehicles, electrification of various industries, energy storage, and private generation sources, which generate electricity at the site of consumption and are becoming increasingly cost-competitive; the cost and availability of fuel, such as low-sulfur coal, natural gas, and enriched uranium used to produce electricity; the cost and availability of natural gas for distribution and the cost and availability of purchased power, including capacity, zero emission credits, renewable energy credits, and emission allowances; and the level and volatility of future market prices for such commodities and credits; disruptions in the delivery of fuel, failure of our fuel suppliers to provide adequate quantities or quality of fuel, or lack of adequate inventories of fuel, including nuclear fuel assemblies primarily from the one Nuclear Regulatory Commission-licensed supplier of assemblies for Ameren Missouri's Callaway Energy Center; the cost and availability of transmission capacity required for the energy generated by Ameren Missouri's energy centers or as required to satisfy Ameren Missouri's energy sales; the effectiveness of our risk management strategies and our use of financial and derivative instruments; the ability to obtain sufficient insurance, or, in the absence of insurance, the ability to timely recover uninsured losses from our customers; the impact of cyberattacks and data security risks on us, our suppliers, or other entities on the grid, which could, among other things, result in the loss of operational control of energy centers and electric and natural gas transmission and distribution systems and/or the loss of data, such as customer, employee, financial, and operating system information; acts of sabotage, which have increased in frequency and severity within the utility industry, war, terrorism, or other intentionally disruptive acts; business, economic, geopolitical, and capital market conditions, including foreign trade tariffs or trade wars, evolving federal regulatory priorities, and the impact of such conditions on interest rates, inflation, and investments; the impact of inflation or a recession on our customers and suppliers and the related impact on our results of operations, financial position, and liquidity; disruptions of the capital and credit markets, deterioration in our credit metrics, or other events that may have an adverse effect on the cost or availability of capital, including short-term credit and liquidity, and our ability to access the capital and credit markets on reasonable terms when needed; the actions of credit rating agencies and the effects of such actions; the impact of weather conditions and other natural conditions on us and our customers, including the impact of system outages and the level of wind and solar resources; the construction, installation, performance, and cost recovery of generation, transmission, and distribution assets; the ability to maintain system reliability during and after the transition to clean energy generation by Ameren Missouri and the electric utility industry, as well as Ameren Missouri's ability to meet existing or future generation capacity obligations; the effects of failures of electric generation, electric and natural gas transmission or distribution, or natural gas storage facilities systems and equipment, which could result in unanticipated liabilities or unplanned outages; the operation of Ameren Missouri's Callaway Energy Center, including planned and unplanned outages, as well as the ability to recover costs associated with such outages and the impact of such outages on off-system sales and purchased power, among other things; Ameren Missouri's ability to recover the remaining investment and decommissioning costs associated with the retirement of an energy center, as well as the ability to earn a return on that remaining investment and those decommissioning costs; the impact of current environmental laws or their interpretation and new, more stringent, or changing requirements and environmental policies, including those related to NSR provisions of the Clean Air Act, carbon dioxide, nitrogen oxides, sulfur dioxide, and other emissions and discharges, Illinois emission standards, cooling water intake structures, coal combustion residuals, energy efficiency, and wildlife protection, that could limit, terminate or otherwise modify the operation of certain of Ameren Missouri's energy centers, increase our operating costs or investment requirements, result in an impairment of our assets, cause us to sell our assets, reduce our customers' demand for electricity or natural gas, or otherwise have a negative financial effect; the impact of complying with renewable energy standards in Missouri and Illinois and with the zero emission standard in Illinois; the effectiveness of Ameren Missouri's customer energy-efficiency programs and the related revenues and performance incentives earned under its Missouri Energy Efficiency Investment Act programs; Ameren Illinois' ability to achieve the performance standards applicable to its electric distribution business and electric customer energy-efficiency goals and the resulting impact on its allowed ROE; labor disputes, workforce reductions, our ability to attract and retain professional and skilled-craft employees, changes in future wage and employee benefits costs, including those resulting from changes in discount rates, mortality tables, returns on benefit plan assets, and other assumptions; the impact of negative opinions of us or our utility services that our customers, investors, legislators, regulators, creditors, rating agencies, or other stakeholders may have or develop, which could result from a variety of factors, including failures in system reliability, failure to implement our investment plans or to protect sensitive customer information, increases in rates, negative media coverage, or concerns about company policies or practices; the impact of adopting new accounting and reporting guidance; the effects of strategic initiatives, including mergers, acquisitions, and divestitures; legal and administrative proceedings; pandemics or other significant global health events, and their impacts on our results of operations, financial position, and liquidity; and the impacts of the Russian invasion of Ukraine and conflicts in the Middle East, related sanctions imposed by the United States and other governments, and any broadening of these or other global conflicts, including potential impacts on the cost and availability of fuel, natural gas, enriched uranium, and other commodities, materials, and services. New factors emerge from time to time, and it is not possible for us to predict all of such factors, nor can we assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained or implied in any forward-looking statement. Given these uncertainties, undue reliance should not be placed on these forward-looking statements. Except to the extent required by the federal securities laws, we undertake no obligation to update or revise publicly any forward-looking statements to reflect new information or future events. AMEREN CORPORATION (AEE) CONSOLIDATED STATEMENT OF INCOME (Unaudited, in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Operating Revenues: Electric $ 2,038 $ 1,521 $ 3,660 $ 2,885 Natural gas 183 172 658 624 Total operating revenues 2,221 1,693 4,318 3,509 Operating Expenses: Fuel and purchased power 794 327 1,296 655 Natural gas purchased for resale 39 33 208 184 Other operations and maintenance 460 465 945 935 Depreciation and amortization 386 376 753 737 Taxes other than income taxes 131 131 275 266 Total operating expenses 1,810 1,332 3,477 2,777 Operating Income 411 361 841 732 Other Income, Net 96 103 181 192 Interest Charges 187 165 362 319 Income Before Income Taxes 320 299 660 605 Income Taxes 43 39 93 83 Net Income 277 260 567 522 Less: Net Income Attributable to Noncontrolling Interests 2 2 3 3 Net Income Attributable to Ameren Common Shareholders $ 275 $ 258 $ 564 $ 519 Earnings per Common Share – Basic $ 1.02 $ 0.97 $ 2.09 $ 1.95 Earnings per Common Share – Diluted $ 1.01 $ 0.97 $ 2.08 $ 1.95 Weighted-average Common Shares Outstanding – Basic 270.3 266.7 270.1 266.5 Weighted-average Common Shares Outstanding – Diluted 271.6 266.8 271.5 266.8 AMEREN CORPORATION (AEE) CONSOLIDATED BALANCE SHEET (Unaudited, in millions) June 30,2025 December 31,2024 ASSETS Current Assets: Cash and cash equivalents $ 11 $ 7 Accounts receivable – trade (less allowance for doubtful accounts) 567 525 Unbilled revenue 467 346 Miscellaneous accounts receivable 101 96 Inventories 738 762 Current regulatory assets 332 366 Other current assets 258 162 Total current assets 2,474 2,264 Property, Plant, and Equipment, Net 37,816 36,304 Investments and Other Assets: Nuclear decommissioning trust fund 1,414 1,342 Goodwill 411 411 Regulatory assets 2,666 2,397 Pension and other postretirement benefits 734 757 Other assets 1,110 1,123 Total investments and other assets 6,335 6,030 TOTAL ASSETS $ 46,625 $ 44,598 LIABILITIES AND EQUITY Current Liabilities: Current maturities of long-term debt $ 29 $ 317 Short-term debt 1,141 1,143 Accounts and wages payable 882 1,059 Taxes accrued 155 60 Interest accrued 230 196 Customer deposits 240 223 Other current liabilities 410 415 Total current liabilities 3,087 3,413 Long-term Debt, Net 18,811 17,262 Deferred Credits and Other Liabilities: Accumulated deferred income taxes and tax credits, net 4,881 4,474 Regulatory liabilities 6,014 5,897 Asset retirement obligations 838 822 Other deferred credits and liabilities 551 487 Total deferred credits and other liabilities 12,284 11,680 Shareholders' Equity: Common stock 3 3 Other paid-in capital, principally premium on common stock 7,541 7,513 Retained earnings 4,784 4,604 Accumulated other comprehensive loss (14) (6) Total shareholders' equity 12,314 12,114 Noncontrolling Interests 129 129 Total equity 12,443 12,243 TOTAL LIABILITIES AND EQUITY $ 46,625 $ 44,598 AMEREN CORPORATION (AEE) CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited, in millions) Six Months Ended June 30, 2025 2024 Cash Flows From Operating Activities: Net income $ 567 $ 522 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 793 760 Amortization of nuclear fuel 20 38 Amortization of debt issuance costs and premium/discounts 10 9 Deferred income taxes and tax credits, net 172 76 Allowance for equity funds used during construction (39) (25) Stock-based compensation costs 14 14 Other 10 13 Changes in assets and liabilities (254) (358) Net cash provided by operating activities 1,293 1,049 Cash Flows From Investing Activities: Capital expenditures (2,130) (1,892) Nuclear fuel expenditures (19) (37) Purchases of securities – nuclear decommissioning trust fund (244) (323) Sales and maturities of securities – nuclear decommissioning trust fund 223 309 Other 59 11 Net cash used in investing activities (2,111) (1,932) Cash Flows From Financing Activities: Dividends on common stock (384) (356) Dividends paid to noncontrolling interest holders (3) (3) Short-term debt, net (2) 156 Maturities and extinguishment of long-term debt (324) (350) Issuances of long-term debt 1,599 1,470 Issuances of common stock 25 21 Employee payroll taxes related to stock-based compensation (13) (8) Debt issuance costs (14) (18) Net cash provided by financing activities 884 912 Net change in cash, cash equivalents, and restricted cash 66 29 Cash, cash equivalents, and restricted cash at beginning of year(a) 328 272 Cash, cash equivalents, and restricted cash at end of period(b) $ 394 $ 301 (a) Includes $7 million of cash and cash equivalents and $321 million of restricted cash as of December 31, 2024. (b) Includes $11 million of cash and cash equivalents and $383 million of restricted cash as of June 30, 2025. AMEREN CORPORATION (AEE) OPERATING STATISTICS Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Electric Sales – kilowatthours (in millions): Ameren Missouri Residential 2,812 2,995 6,676 6,472 Commercial 3,349 3,386 6,716 6,657 Industrial 1,037 1,046 1,996 2,005 Street lighting and public authority 13 14 30 33 Ameren Missouri retail load subtotal 7,211 7,441 15,418 15,167 Off-system 662 1,484 1,876 2,615 Ameren Missouri total 7,873 8,925 17,294 17,782 Ameren Illinois Electric Distribution Residential 2,435 2,582 5,408 5,333 Commercial 2,758 2,791 5,578 5,547 Industrial 2,511 2,712 5,002 5,390 Street lighting and public authority 95 100 198 198 Ameren Illinois Electric Distribution total 7,799 8,185 16,186 16,468 Ameren Total 15,672 17,110 33,480 34,250 Electric Revenues (in millions): Ameren Missouri Residential $ 405 $ 395 $ 781 $ 736 Commercial 344 324 617 583 Industrial 84 77 150 138 Other, including street lighting and public authority 11 21 9 45 Ameren Missouri retail load subtotal $ 844 $ 817 $ 1,557 $ 1,502 Off-system sales and capacity 471 47 651 76 Ameren Missouri total $ 1,315 $ 864 $ 2,208 $ 1,578 Ameren Illinois Electric Distribution Residential $ 321 $ 311 $ 663 $ 608 Commercial 181 163 361 328 Industrial 48 47 98 92 Other, including street lighting and public authority 23 (12) 23 (13) Ameren Illinois Electric Distribution total $ 573 $ 509 $ 1,145 $ 1,015 Ameren Transmission Ameren Illinois Transmission(a) $ 152 $ 136 $ 306 $ 267 ATXI 56 55 113 110 Eliminate affiliate revenues — — (1) (1) Ameren Transmission total $ 208 $ 191 $ 418 $ 376 Other and intersegment eliminations(a) (58) (43) (111) (84) Ameren Total $ 2,038 $ 1,521 $ 3,660 $ 2,885 (a) Includes $40 million, $27 million, $77 million and $55 million, respectively, of electric operating revenues from transmission services provided to the Ameren Illinois Electric Distribution segment. AMEREN CORPORATION (AEE) OPERATING STATISTICS Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Gas Sales – dekatherms (in millions): Ameren Missouri 3 3 12 11 Ameren Illinois Natural Gas 30 28 95 88 Ameren Total 33 31 107 99 Gas Revenues (in millions): Ameren Missouri $ 25 $ 24 $ 89 $ 85 Ameren Illinois Natural Gas 158 148 569 539 Ameren Total $ 183 $ 172 $ 658 $ 624 June 30, December 31, 2025 2024 Common Stock: Shares outstanding (in millions) 270.4 269.9 Book value per share $ 45.54 $ 44.88

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store