The AES Corporation Earnings Call Transcripts
Fiscal Year 2026
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Stockholders approved the merger with GIP and EQT Consortium and related executive compensation. The meeting was held virtually, with all legal and procedural requirements met, and final voting results will be reported on Form 8-K.
Fiscal Year 2025
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Q3 saw strong financial performance with 46% renewables EBITDA growth and reaffirmed 2025 guidance. Major investments in renewables and utilities, robust PPA signings, and a secure balance sheet position the company for 5%–7% long-term EBITDA growth through 2027.
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Q2 2025 saw strong financial performance with 56% renewables EBITDA growth and robust demand from data centers. Guidance for 2025 and long-term growth targets were reaffirmed, with a well-protected backlog and major investments in utilities and renewables.
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Q1 2025 results met expectations, with strong renewables growth, reaffirmed guidance, and robust demand from data center and corporate customers. Asset sales and cost savings support a self-funded growth plan, while minimal tariff exposure and regulatory changes in Ohio are seen as positive.
Fiscal Year 2024
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2024 results showed resilient cash flow and record EPS despite weather impacts, with strong renewables and utilities growth expected in 2025 and beyond. Cost savings, portfolio simplification, and a self-funded capital plan support improved credit metrics and reaffirmed long-term growth targets.
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Q3 2024 results were in line with expectations, with strong growth in renewables and U.S. utilities, despite one-time weather impacts in South America. The company reaffirmed 2024 guidance, is ahead on asset sales, and expects significant growth in 2025 as conditions normalize and new capacity comes online.
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Q2 2024 results exceeded expectations, with strong growth in renewables, utilities, and data center partnerships. Guidance for adjusted EBITDA and EPS was raised to the top half of ranges, and a robust project backlog and pipeline support long-term growth.