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Dec 31, 2019
AES Q4 2019 Earnings Report
AES achieved its strategic and financial goals by accelerating a greener energy future
Key Takeaways
AES reported its Q4 2019 financial results, showing a total revenue of $2,431 million and a net loss attributable to AES of $78 million. The company achieved its strategic and financial goals for 2019 and is accelerating its decarbonization goals.
Upgraded to an investment grade credit rating by Fitch.
Signed 2.8 GW of new PPAs for renewables in 2019, bringing backlog to 6.1 GW.
Maintained global leadership in energy storage, with Fluence reaching 1.1 GW of projects delivered or awarded in 2019.
Announced a target to reduce coal-fired generation to below 30% by year-end 2020 and to less than 10% by year-end 2030.
Forward Guidance
The Company is initiating 2020 guidance for Adjusted EPS of $1.40 to $1.48, compared to 2019 Adjusted EPS of $1.36. The Company also expects 2020 Parent Free Cash Flow of $725 to $775 million, compared to 2019 Parent Free Cash Flow of $726 million. The Company is also reaffirming its average annual growth rate target of 7% to 9% through 2022 for both Adjusted EPS and Parent Free Cash Flow, from a 2018 base.
Positive Outlook
- Adjusted EPS guidance of $1.40 to $1.48 for 2020.
- Parent Free Cash Flow expectation of $725 to $775 million for 2020.
- Reaffirming average annual growth rate target of 7% to 9% through 2022 for Adjusted EPS.
- Reaffirming average annual growth rate target of 7% to 9% through 2022 for Parent Free Cash Flow.
- Based on foreign currency and commodity forward curves as of December 31, 2019.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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