AES Corporation ( (AES) ) has released its Q4 earnings. Here is a breakdown of the information AES Corporation presented to its investors.
AES Corporation is a global energy company focused on accelerating the future of energy through innovative and sustainable solutions. It operates primarily in the renewable energy sector, providing greener and smarter energy solutions worldwide.
AES Corporation has reported a strong financial performance for 2024, achieving significant strategic and financial goals. The company signed or was awarded 6.8 GW of new contracts, including renewable PPAs and data center load growth, and completed the construction or acquisition of 3.0 GW of renewables. AES was also ranked as the top provider of clean energy to corporations globally for the third consecutive year.
Financially, AES Corporation reported a net income of $698 million for 2024, a significant turnaround from a net loss of $182 million in 2023. The company’s diluted EPS increased to $2.37 from $0.34 in the previous year. However, the adjusted EBITDA decreased slightly to $2,639 million, primarily due to challenging conditions in Colombia and lower margins at the Energy Infrastructure SBU. Despite these challenges, the adjusted EPS improved to $2.14, driven by higher contributions from renewables and utilities.
Looking ahead, AES Corporation is optimistic about its future growth prospects. The company expects to complete 3.2 GW of new renewable projects in 2025 and has initiated guidance for adjusted EBITDA and EPS for the year. AES reaffirms its long-term growth targets, driven by its robust project pipeline and strategic focus on renewable energy.
AES Corporation remains committed to optimizing its operations and capitalizing on the growing demand for clean energy solutions, positioning itself as a leader in the global energy transition.