AES
The AES Corporation13.62
-0.24-1.73%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
9.70BP/E (TTM)
8.96Basic EPS (TTM)
1.52Dividend Yield
0.05%Recent Filings
8-K
8-K
AES merger at $15/share
AES signed a merger agreement on March 1, 2026, with Horizon Parent, L.P.—backed by GIP and EQT—for $15.00 per share in cash, totaling $10.7B equity value. The deal, backed by the board, awaits stockholder and regulatory nods like PUCO and FERC, eyeing late 2026 or early 2027 close. Going private unlocks capital for growth. Leadership shuffled too: Falú to President, Rubiolo to COO.
10-K
FY2025 results
AES Corporation's FY2025 10-K reveals a renewables portfolio surging to 17.8 GW operational capacity, up from prior year, with 3.2 GW completed and 4.0 GW of new PPAs signed, bolstering a 12.0 GW backlog including 5.7 GW under construction. U.S. utilities AES Indiana and AES Ohio gained rate hikes—$71 million via IURC's 2024 Base Rate Order and $168 million from PUCO's 2024 DRC Settlement—driving Adjusted EBITDA up 9% to $863 million amid higher demand. Energy Infrastructure dipped as Warrior Run coal PPA monetization faded, yet Q4 availability improved sequentially. Liquidity stayed robust with $1.4 billion unrestricted cash; capital expenditures fell to $5.9 billion on completed builds. Chile's coal phase-out accelerated, risking hydrology-driven spot volatility.
8-K
Maritza impairment $250-325M
AES disclosed a material impairment on its Maritza power plant in Bulgaria under Item 2.06, triggered by the PPA expiring May 2026, failed conversion plans, and stalled new PPA talks. The company will recognize a pre-tax charge of $250 million to $325 million as of December 31, 2025. No impact on cash flows through expiry. Final amount set in 10-K.
8-K
AES beats Q3, reaffirms guidance
AES crushed Q3 2025 with net income jumping to $517 million from $215 million last year, fueled by renewables ramp-up and utility rate hikes, while Adjusted EBITDA hit $830 million. On track for 3.2 GW new projects; backlog stands at 11.1 GW. Reaffirms 2025 guidance and 5-7% long-term growth. Tax attributes drive volatility.
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