The AES Corporation (NYSE:AES) Q2 2023 Earnings Call Transcript August 4, 2023 10:00 AM ET Company Participants Susan Harcourt - Vice President of Investor Relations Andres Gluski - President, CEO Steve Coughlin - Executive VP and CFO Conference Call Participants Durgesh Chopra - Evercore ISI David Arcaro - Morgan Stanley Richard Sunderland - JPMorgan Angie Storozynski - Seaport Julien Dumoulin-Smith - Bank of America Ryan Levine - Citi Gregg Orrill - UBS Operator Good morning, everyone, and welcome to toda ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________________________________________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 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 it ...

The AES Corporation. (NYSE:AES) Q1 2023 Earnings Conference Call May 5, 2023 10:00 AM ET Company Participants Susan Harcourt - Vice President, Investor Relations Andres Gluski - President and Chief Executive Officer Steve Coughlin - Chief Financial Officer Conference Call Participants David Arcaro - Morgan Stanley Agnieszka Storozynski - Seaport Global Richard Sunderland - JPMorgan Durgesh Chopra - Evercore ISI Julien Dumoulin-Smith - Bank of America Gregg Orrill - UBS Ryan Levine - Citi Operator Good morni ...

The AES Corporation First Quarter 2023 Financial Review CONTAINS FORWARD-LOOKING STATEMENTS Safe Harbor Disclosure ...

WASHINGTON, D.C. 20549 ______________________________________________________________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12291 UNITED STATES SECURITIES AND EXCHANGE COMMISSION THE AES CORPORATION (Exact name of registrant as specified in i ...

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The AES Corporation Fourth Quarter & Full Year 2022 Financial Review February 27, 2023 CONTAINS FORWARD-LOOKING STATEMENTS Safe Harbor Disclosure Certain statements in the following presentation regarding AES' business operations may constitute "forward-looking statements." Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but inste ...

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.67 for 2022, exceeding the guidance range of $1.55 to $1.65, driven by strong portfolio performance and growth in renewables [6][16] - Adjusted pretax contribution (PTC) was $1.6 billion, an increase of $149 million or 11% compared to 2021 [17] Business Line Data and Key Metrics Changes - The company added approximately 2 gigawatts of new projects to its portfolio in 2022, maintaining expectations despite market challenges [7] - The backlog of signed long-term renewable contracts increased to 12.2 gigawatts after signing 5.2 gigawatts of new PPAs in 2022 [9] - The pipeline of future projects grew by 25% to 64 gigawatts, with 51 gigawatts located in the U.S. [6][10] Market Data and Key Metrics Changes - The company expects to complete approximately 3.4 gigawatts of new projects in 2023, with 65% of this capacity located in the U.S. [20] - The company anticipates a significant increase in tax credits from new U.S. renewable projects, estimating around $500 million in adjusted PTC from tax credits in 2023, double the amount from 2022 [21] Company Strategy and Development Direction - The company is focused on executing its construction program and developing its pipeline of future projects, aiming to exit coal by the end of 2025 [29] - The company is establishing a leading position in green hydrogen, partnering with Air Products to develop the largest green hydrogen production facility in the U.S. [10] - The company aims to grow its U.S. utilities' combined rate base by 9% annually through 2025 [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth outlook, reaffirming a growth rate of 7% to 9% through 2025 [13][21] - The company highlighted strong demand for renewables, particularly in the U.S., and noted that the Inflation Reduction Act (IRA) is enhancing their competitive position [14][41] Other Important Information - The company plans to hold an Investor Day in spring 2023 to share its strategic long-term view and introduce new business segments [14] - The company is relaunching the sale process for its Mong Duong coal plant in Vietnam to align with new government requirements [27][79] Q&A Session Summary Question: Inquiry about missing segmental earnings contributions for 2023 - Management indicated that updates on new business segments will be provided during the upcoming Investor Day [33] Question: Expectations for AES Next business - Management expects significant improvement in margins for AES Next, particularly from Fluence, which is anticipated to be neutral to earnings by 2024 [35][36] Question: Impact of the Inflation Reduction Act on tax credits - Management confirmed that they are well-positioned to benefit from the optionality provided by the IRA, allowing for the selection of the most advantageous tax credit structure [41][42] Question: Confidence in achieving 2023 guidance - Management expressed confidence in securing the necessary equipment and completing the planned projects, although some may slip into 2024 due to timing issues [53][54] Question: Clarification on the timing of project completions - Management indicated that clarity on project timelines would likely be available by summer 2023 [56] Question: Discussion on asset sales and capital allocation - Management confirmed confidence in achieving $1 billion in asset sales by 2025 and indicated that no additional equity is needed for growth through 2025 [49][50] Question: Update on Ohio regulatory developments - Management noted that a favorable ruling on the distribution rate case was received, and they expect a decision on the electric security plan in summer 2023 [75][77]

The AES Corporation (NYSE:AES) Q3 2022 Results Conference Call November 4, 2022 10:00 AM ET Company Participants Susan Harcourt - VP of IR Andres Gluski - President, CEO and Director Steve Coughlin - Executive VP and CFO Conference Call Participants Insoo Kim - Goldman Sachs Richard Sunderland - JPMorgan Angie Storozynski - Seaport Julien Patrick Dumoulin-Smith - BofA Securities Ryan Levine - Citi Gregg Orrill - UBS Operator Ladies and gentlemen, welcome to the AES Corporation Third Quarter 2022 Financial R ...