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Sep 30, 2022
AES Q3 2022 Earnings Report
Reported financial results for the quarter ended September 30, 2022.
Key Takeaways
AES Corporation reported strong year-to-date performance and expects full year Adjusted EPS to be at or near the high end of its guidance range of $1.55 to $1.65. The company's renewables business continues to grow, with 500 MW of projects completed and 1.6 GW of new long-term contracts signed. AES is well-positioned to continue delivering attractive returns to shareholders with a global pipeline of 64 GW and the recent enactment of the Inflation Reduction Act (IRA) in the United States.
Q3 2022 Diluted EPS of $0.59, compared to $0.48 in Q3 2021.
Q3 2022 Adjusted EPS of $0.63, compared to $0.50 in Q3 2021.
Signed 3.2 GW of PPAs for new renewable energy projects in year-to-date 2022, including 1.6 GW since the Company's second quarter earnings call in August, bringing backlog to 11.2 GW.
Increased pipeline of potential future projects to 64 GW, 80% of which is in the United States.
AES
AES
Forward Guidance
The Company now expects full year 2022 Adjusted EPS to be at or near the high end of its guidance range of $1.55 to $1.65. The Company is reaffirming its 7% to 9% annualized growth rate target through 2025, from a base year of 2020.