Justin Paget Clean energy stocks have been underperforming this year, partly due to rising interest rates. This has created an attractive buying opportunity for investors to leg into AES (NYSE:AES). AES' recent quarter showed strength and exceeded market expectations in Q3 earnings. AES has upped its 2023 EPS forecast to the upper range and secured significant renewable contracts, aiming to reach at least 5 GW of new PPAs by year-end. To ensure financial stability, AES is expediting its asset sale progr ...

The U.S. stock market staged a remarkable rally in 2023, but 173 stocks in the S&P 500 were still down for the year. Here’s a roundup of how well the 11 sectors of the S&P 500 fared through 10 a.m. Eastern time on Friday: Sector or index 2023 price change 2022 price change Price change since end of 2021 Forward P/E Forward P/E at end of 2022 Forward P/E at end of 2021 Information Technology 57.1% -28.9% 11.5% 26.7 20.0 28.2 Communication Services 54.9% -40.4% -7.6% ...

Raising $338 Million of Asset Sale Proceeds ARLINGTON, Va., Dec. 21, 2023 /PRNewswire/ -- The AES Corporation (NYSE: AES) announced today that it has closed minority sell-downs of its businesses in the Dominican Republic and its AES Colón business in Panama for proceeds of $338 million.  This includes the transactions announced in September for proceeds of $179 million after purchase price adjustments at closing, as well as sell-downs of additional stakes in the businesses through the expansion of existing ...

The AES Corporation (NYSE:AES) Q3 2023 Earnings Conference Call November 3, 2023 10:00 AM ET Company Participants Susan Harcourt - Vice President of Investor Relations Andres Gluski - President and Chief Executive Officer Steve Coughlin - Chief Financial Officer Conference Call Participants David Arcaro - Morgan Stanley Durgesh Chopra - Evercore ISI Angie Storozynski - Seaport Global Richard Sunderland - JPMorgan Julien Dumoulin-Smith - Bank of America Michael Sullivan - Wolfe Research Operator Good morning ...

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

Financial Performance - Third quarter net income decreased by $155 million, from $446 million to $291 million, primarily due to lower contributions from LNG transactions [153]. - Adjusted EBITDA increased by $59 million, from $931 million to $990 million, driven by higher contributions at the Utilities SBU and favorable weather conditions [154]. - Adjusted EPS decreased by $0.03, from $0.63 to $0.60, mainly due to lower contributions from the Energy Infrastructure SBU and higher Parent Company interest [158]. - Total revenue for the third quarter was $3,434 million, a decrease of $193 million or 5% compared to $3,627 million in the prior year [167]. - Consolidated revenue decreased by $193 million, or 5%, for the three months ended September 30, 2023, compared to the same period in 2022, with a notable increase of $176 million in Renewables due to higher spot sales and new business operations [172]. - Net income attributable to The AES Corporation decreased by $190 million, or 45%, to $231 million for the three months ended September 30, 2023, compared to $421 million for the same period in 2022 [211]. - Adjusted EBITDA for the three months ended September 30, 2023, was $990 million, compared to $931 million for the same period in 2022, reflecting an increase of 6.3% [220]. - Adjusted EPS for Q3 2023 was $0.60, a decrease from $0.63 in Q3 2022, while the nine-month Adjusted EPS was $1.03 compared to $1.18 in the same period last year [232]. Revenue Segments - The Renewables SBU revenue increased by 33% to $708 million, while the Energy Infrastructure SBU revenue decreased by 12% to $1,861 million [167]. - Higher earnings from the Renewables SBU were attributed to favorable weather conditions and new businesses operating in the portfolio [214]. - Operating Margin for the Renewables SBU increased by $34 million (18%) in Q3 2023, driven by better hydrology and new business operations, with a nine-month increase of $41 million (11%) [234][237]. - Adjusted EBITDA for the Renewables SBU rose by $72 million (37%) in Q3 2023, and by $81 million (17%) for the nine months ended September 30, 2023 [235][238]. - Operating Margin for the Utilities SBU increased by $81 million in Q3 2023, with a nine-month increase of $71 million (25%) due to deferral of power purchase costs and higher demand [241][243]. - Adjusted EBITDA for the Utilities SBU increased by $79 million (58%) in Q3 2023, and by $70 million (15%) for the nine months ended September 30, 2023 [242][244]. - Operating Margin for the Energy Infrastructure SBU decreased by $84 million (-14%) in Q3 2023, and by $91 million (-8%) for the nine months, primarily due to lower contract energy sales and higher costs [245][247]. - Adjusted EBITDA for the Energy Infrastructure SBU decreased by $100 million (-16%) in Q3 2023, and by $188 million (-14%) for the nine months [246][248]. Cash Flow and Investments - Net cash provided by operating activities increased by 43% to $1,122 million compared to $784 million in the prior year [167]. - Net cash provided by operating activities increased by $660 million to $2.309 billion for the nine months ended September 30, 2023, compared to $1.649 billion in 2022 [329]. - Net cash used in investing activities rose by $1.8 billion to $(5.673) billion for the nine months ended September 30, 2023, compared to $(3.825) billion in 2022 [333]. - Capital expenditures increased by $2.6 billion, driven primarily by U.S. renewable projects [337]. - Net cash provided by financing activities increased by $877 million to $3.740 billion for the nine months ended September 30, 2023, compared to $2.863 billion in 2022 [339]. Debt and Liquidity - As of September 30, 2023, the company had unrestricted cash and cash equivalents of $1.8 billion, with $51 million held at the Parent Company [315]. - The company has $21.6 billion in non-recourse debt and $5.6 billion in recourse debt outstanding [315]. - The company expects to repay current maturities of non-recourse debt and recourse debt from net cash provided by operating activities or through refinancing [316]. - The company has $700 million in recourse debt maturing within the next twelve months, with $607 million guaranteed by the Parent Company [316]. - Approximately $27.5 billion of total gross debt outstanding as of September 30, 2023, includes $7.2 billion bearing interest at variable rates not subject to hedging [318]. - The company has provided approximately $2.4 billion in financial and performance-related guarantees to support its businesses [319]. Operational Challenges and Future Outlook - The company anticipates challenges from volatile foreign currencies and commodities, but expects improved operating performance and growth from new businesses to mitigate these impacts [253]. - The company plans to exit the majority of its coal facilities by the end of 2025 and all by the end of 2027, subject to necessary approvals [280]. - The company is currently evaluating alternative uses for the Warrior Run coal-fired power plant after the PPA termination, with total proceeds of $357 million expected through January 2030 [284]. - The overall economic climate in Argentina poses risks of significant devaluation of the Argentine peso, which could adversely affect the company's operations [293]. - The company continues to monitor macroeconomic and political changes that could adversely impact its business operations [264]. Regulatory and Compliance Issues - The company is subject to potential future costs related to compliance with the CSAPR, which may require purchasing additional emissions allowances [299]. - The company faces uncertainties regarding the impact of proposed environmental regulations, including the MATS and potential future greenhouse gas emissions regulations [300]. - The implementation of the Inflation Reduction Act is expected to require substantial guidance from the U.S. Department of Treasury, leading to uncertainty in its provisions [267]. - The Uyghur Forced Labor Prevention Act may block certain suppliers from importing solar cells and panels, but the company has managed this issue without significant impact [258].

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 ...