Financial Data and Key Metrics Changes - The company reported adjusted EBITDA with tax attributes of $863 million for Q1 2024, up from $641 million in the same quarter last year, driven primarily by contributions from new renewables [17] - Adjusted EPS for the quarter was $0.50, compared to $0.22 last year, reflecting similar drivers as adjusted EBITDA [18] - The company reaffirmed its 2024 adjusted EBITDA guidance of $3.6 billion to $4 billion and adjusted EPS guidance of $1.87 to $1.97 [21][22] Business Line Data and Key Metrics Changes - The renewables strategic business unit (SBU) saw higher EBITDA driven by new business contributions, although partially offset by lower renewable resource performance in Panama and Brazil [19] - The utilities SBU experienced higher adjusted total contribution costs (TTC) due to favorable weather and increased revenues from investments in the rate base [20] - The energy infrastructure SBU showed relatively flat EBITDA, reflecting prior year higher LNG transaction margins and the sell-down of gas and LNG businesses [20] Market Data and Key Metrics Changes - Power demand in the U.S. is forecasted to increase significantly over the next decade, driven by data center growth, onshoring of manufacturing, and electrification of mobility [9] - Renewables are expected to provide the lowest levelized cost of energy (LCOE) for new builds on an unsubsidized basis, with 95% of capacity additions in the U.S. in 2024 expected to come from solar energy storage and wind [10][9] Company Strategy and Development Direction - The company signed a 15-year contract with Amazon for the Bellefield project, which will provide 2 gigawatts of combined solar and storage, marking a significant milestone in renewable energy [7][8] - The company has a pipeline of 66 gigawatts of projects, emphasizing a strategic approach to building its pipeline in high-demand markets [12] - The company aims to increase its U.S. project return expectations by 200 basis points to 12% to 15% on a levered, after-tax cash basis [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute plans and maintain resilience against high interest rates and inflation [6] - The company sees strong and accelerating demand for renewables in core markets, particularly from data centers [29] - Management highlighted the importance of supply chain management in delivering renewable projects on time and on budget [29] Other Important Information - The company achieved a critical milestone with the approval of its rate case by the Indiana Utility Regulatory Commission, allowing for a $71 million rate case increase [14] - The company closed on the acquisition of the 106-megawatt Hoosier wind project, adding to its renewable portfolio [15] - The company reported nearly 100% increase in Q1 investment in utilities compared to last year, driven by new rate structures [16] Q&A Session Summary Question: Can you expand on the asset sale programs and future equity issuance? - Management indicated a strong track record of overachieving asset sale targets and expressed confidence in potentially eliminating future equity issuance depending on asset sales and growth programs [34] Question: What are the thoughts on data center opportunities and partnerships? - Management noted that they have established strong relationships with technology companies and are focused on meeting their needs through innovative solutions [36][38] Question: How does the company position itself regarding potential tariffs? - Management expressed confidence in their preparedness for potential tariffs, stating that they have secured necessary materials for upcoming projects [42][44] Question: What is the outlook on the pace of renewable deployment? - Management acknowledged the accelerating demand for data centers and emphasized the importance of having advanced pipelines to meet this demand [50] Question: Can you discuss transmission constraints and interconnection perspectives? - Management highlighted the use of dynamic line rating and battery projects to optimize existing transmission capacity and avoid costs [52][54] Question: What is the current focus on hydrogen projects? - Management confirmed progress on a significant green hydrogen project in Texas, awaiting final regulations [57] Question: How is the company addressing the demand for renewables? - Management reported strong demand for renewables and a robust pipeline, with significant contracts signed in the first quarter [60][61]

Financial Performance - The AES Corporation reported a diluted EPS of $0.60 for Q1 2024, an increase of 186% compared to $0.21 in Q1 2023[4] - Adjusted EPS for Q1 2024 was $0.50, up 127% from $0.22 in Q1 2023[4] - Net Income for Q1 2024 reached $278 million, a $89 million increase from $189 million in Q1 2023[6] - Total revenue for Q1 2024 was $3,085 million, a decrease of 4.8% from $3,239 million in Q1 2023[23] - Net income attributable to AES Corporation increased to $432 million in Q1 2024, compared to $151 million in Q1 2023, representing a growth of 186.1%[23] - Basic earnings per share rose to $0.62 in Q1 2024, up from $0.22 in Q1 2023, reflecting a 181.8% increase[23] - For the three months ended March 31, 2024, net income was $278 million, compared to $189 million for the same period in 2023, representing a 47% increase[32] - The diluted earnings per share (EPS) for Q1 2024 was $0.60, up from $0.21 in Q1 2023, marking a substantial increase of 185.7%[37] Adjusted Metrics - Adjusted EBITDA for Q1 2024 was $635 million, a slight increase of $7 million compared to $628 million in Q1 2023[7] - Adjusted EBITDA for Q1 2024 was $635 million, slightly up from $628 million in Q1 2023, indicating a stable performance year-over-year[32] - Adjusted EBITDA with Tax Attributes reached $863 million in Q1 2024, compared to $641 million in Q1 2023, reflecting a significant increase of 34.6%[32] - The company reaffirmed its 2024 guidance for Adjusted EPS of $1.87 to $1.97, driven by new renewables commissionings and rate base growth[12] - Adjusted EBITDA guidance for 2024 is reaffirmed at $2,600 to $2,900 million, with expectations of annualized growth of 5% to 7% through 2027[10] Project Development - The company signed an additional 1 GW of solar-plus-storage under a long-term contract with Amazon, totaling 2 GW at Bellefield, California[1] - The total backlog of projects signed under long-term contracts reached 12.7 GW, including 5.8 GW under construction[11] Capital and Assets - Cash and cash equivalents increased to $1,994 million as of March 31, 2024, compared to $1,426 million at the end of 2023, marking a growth of 39.7%[27] - Total assets grew to $47,045 million as of March 31, 2024, up from $44,799 million at the end of 2023, an increase of 5.0%[27] - Capital expenditures for Q1 2024 were $2,148 million, an increase from $1,551 million in Q1 2023, representing a rise of 38.5%[29] Liabilities and Cash Flow - Total current liabilities decreased to $9,211 million as of March 31, 2024, from $9,731 million at the end of 2023, a reduction of 5.3%[27] - Net cash provided by operating activities was $287 million in Q1 2024, down from $625 million in Q1 2023, a decrease of 54.1%[29] - Total subsidiary distributions to the Parent Company for Q1 2024 amounted to $1,577 million, a decrease from $1,602 million in Q4 2023[42] - The Parent Company liquidity at the end of Q1 2024 was $732 million, down from $1,409 million at the end of Q4 2023, indicating a reduction in available cash[42] Impairments and Gains - The company reported impairment losses of $26 million in Q1 2024, compared to $9 million in Q1 2023, highlighting an increase in asset impairments[40] - The company reported a gain on disposal and sale of business interests of $43 million in Q1 2024, compared to no gain in Q1 2023[29] - Unrealized derivative gains contributed $68 million, or $0.10 per share, to the financial results in Q1 2024, reflecting the impact of market fluctuations[39] - The company recognized a loss on extinguishment of debt and troubled debt restructuring amounting to $34 million in Q1 2024, compared to $4 million in Q1 2023[40] Strategic Initiatives - The company retired 276 MW of coal capacity in Chile, contributing to a total of 13.5 GW of coal exits since 2017[4] - AES Indiana received approval for a rate case settlement, allowing for investments in reliability and enhanced customer offerings[4] Revenue Segments - The Renewables Strategic Business Unit (SBU) revenue increased by 25.1% to $619 million in Q1 2024 from $495 million in Q1 2023[25] - The adjusted PTC for Q1 2024 was $336 million, compared to $204 million in Q1 2023, representing a 64.7% increase year-over-year[40]

Signed an Additional 1 GW of Solar-Plus-Storage Under a Long-Term Contract with Amazon, for a Total of 2 GW at Bellefield in California Strategic Accomplishments Signed 1.2 GW of renewables and energy storage under long-term contracts, bringing total backlog of projects signed under long-term contracts to 12.7 GW Includes an additional 1 GW under a 15-year contract with Amazon, for a total of 2 GW at Bellefield, the largest single solar-plus-storage facility in the US Completed the construction or acquis ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________________________________________________ For the Quarterly Period Ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12291 THE AES CORPORATION (Exact name of registrant as specified in its charter) Delaware 54-1163725 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

The AES Corporation (AES) is slated to report first-quarter 2024 results on May 2, after the closing bell.It delivered an earnings surprise of 5.80% in the last reported quarter. However, the company has a trailing four-quarter average negative earnings surprise of 2.36%.Factors to NoteIn the first quarter, AES’ service territories witnessed mixed weather patterns. While some parts of its service areas experienced warmer-than-normal temperatures, other parts observed mostly normal temperatures during this y ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider AES (AES) . This company, which is in the Zacks Utility - Electric Power industry, shows potential for another earnings beat.This power company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 7.44%.For the last reporte ...

The world economy is transitioning to a renewable energy narrative. This makes the demand for sustainable solutions and further emphasizes the potential of hydrogen as an alternative fuel source. While the market may be experiencing issues in scalability and cost, it’s still eclipsed by the industry’s massive potential. Consequently, investors buying hydrogen value stock picks may soon experience a growth spurt of the decade.To come up with the list of companies for this article, I’ve reviewed the forward p ...

ClaudineVM/iStock via Getty ImagesDear readers/followers, In this article, I'll give you my first article on the AES Corporation (NYSE:AES). The company is a US-based utility with a potentially fairly decent upside. Like many of the utilities around the globe at this time, the company is fairly heavily weighted towards becoming a champion renewable player. The company is headquartered in Arlington, and the abbreviation AES stands for Applied Energy Services - which also was the company's name until the ...

ARLINGTON, Va., April 3, 2024 /PRNewswire/ -- The AES Corporation (NYSE: AES) will host a conference call on Friday, May 3, 2024 at 10:00 a.m. Eastern Time (ET) to review its first quarter 2024 financial results. The call will include prepared remarks and a question and answer session.  It will be open to the media and the public in a listen-only mode by telephone and webcast.  Interested parties may listen to the teleconference by dialing 1-833-470-1428 at least ten minutes before the start of the call.  I ...

2 Stocks Quietly Capitalizing on the Massive AI Boom Canva: pinglabel from Getty Images. Robert Daemmrich Photography Inc / Getty Images, and gageskidmore / Flickr Since ChatGPT’s public launch in November 2022, artificial intelligence, or AI, has been the dominant storyline in the technology world and the stock market. And whether you’ve dabbled with the technology or not, there’s no denying that many of the world’s most forward-thinking minds are firmly planting themselves as huge AI believers.Mark Cuba ...