AES Corp. backs FY24 adjusted EBITDA view $2.6B-$2.9B

The company is reaffirming its expectation that 2024 Adjusted EBITDA with Tax Attributes will come in the upper half of the range of $3.55B-$3.950B, driven by new renewables. The company is reaffirming its 2024 guidance for Adjusted EBITDA of $2.6B-$2.9B, but now expects to be towards the low end of the range, due to extreme weather in Colombia and lower margins in the Energy Infrastructure SBU. Results for the year will also be driven by significant asset sales closed in 2023 and 2024, partially offset by contributions from new renewables projects, improved margins in Chile, and rate base growth at US utilities. The company is reaffirming its expectation for annualized growth in Adjusted EBITDA of 5% to 7% through 2027, from a base of its 2023 guidance of $2.6B-$2.9B.