Loading...
•
Dec 31, 2024
AES Q4 2024 Earnings Report
AES reported its financial results for the fourth quarter and full year ended December 31, 2024, showing significant growth in net income and strategic accomplishments in renewables and data center contracts.
Key Takeaways
AES achieved its 2024 strategic and financial goals, driven by strong performance in renewables and data center growth. The company reported a substantial increase in net income for the full year 2024 and initiated optimistic guidance for 2025, reaffirming its long-term growth targets.
AES signed or was awarded 6.8 GW of new contracts in 2024, including 4.4 GW of renewables PPAs and 2.1 GW of data center growth at AES Ohio.
The company completed construction or acquisition of 3.0 GW of renewables and a 670 MW combined cycle gas plant.
Full year 2024 Net Income increased significantly to $698 million, up from a net loss of $182 million in 2023.
AES initiated 2025 guidance for Adjusted EBITDA of $2,650 million to $2,850 million and Adjusted EPS of $2.10 to $2.26, reaffirming long-term growth targets.
AES
AES
AES Revenue by Segment
Revenue by Segment
Renewables Revenue
CapyFin.comUtilities Revenue
CapyFin.comEnergy Infrastructure Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
AES is initiating strong 2025 guidance for Adjusted EBITDA and Adjusted EPS, driven by new renewables projects and rate base growth at US utilities, while reaffirming its long-term growth targets.
Positive Outlook
- Initiating 2025 guidance for Adjusted EBITDA of $2,650 million to $2,850 million.
- Reaffirming annualized growth target for Adjusted EBITDA of 5% to 7% through 2027.
- Initiating 2025 guidance for Adjusted EPS of $2.10 to $2.26.
- Reaffirming annualized growth target for Adjusted EPS of 7% to 9% through 2027.
- Expecting strong growth from new renewables projects and rate base growth at US utilities.
Challenges Ahead
- Expected offset from revenues due to the monetization of the Warrior Run PPA in 2024.
- Expected offset from asset sales.
- Higher Parent interest expected to partially offset growth in 2025.
- Higher adjusted tax rate expected to partially offset growth in 2025.
- No specific negative financial guidance provided beyond these offsets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income