AES

AES

Market cap $10B

Both GEV and AES are focused on advancing the clean energy transition and catering to the increasing demand from data centers.

AES Corporation remains a deep-value opportunity, trading at just 6.5x forward earnings with a 5% dividend yield. AES has a robust renewable energy pipeline, long-term PPAs, and regulated utility cash flows, supporting growing earnings. Management guides for 5-7% annualized EPS growth through 2027, driven by an 11.1 GW project backlog and strong data center demand.

AES boosts its renewable and LNG portfolios with major solar, wind and gas projects as it targets long-term clean energy growth.

The AES Corporation stock surged on a $38B buyout rumor involving BlackRock's GIP but has since drifted. There has been no confirmation or follow-up from either party. Q3 results beat expectations, showing improvements in fundamentals: EPS of $0.76 with reaffirmed full-year guidance. AES reported progress toward completing several large-scale projects. AES management's silence leaves two plausible scenarios: ongoing negotiations under NDA, or a dead deal the company won't comment on.

The AES Corporation ( AES ) Q3 2025 Earnings Call November 5, 2025 10:00 AM EST Company Participants Susan Pasley Harcourt - Vice President of Investor Relations Andres Ricardo Gluski Weilert - President, CEO & Director Stephen Coughlin - Executive VP & CFO Ricardo Manuel Falu - Executive Vice President & Chief Operating Officer Conference Call Participants Nicholas Campanella - Barclays Bank PLC, Research Division David Arcaro - Morgan Stanley, Research Division Julien Dumoulin-Smith - Jefferies LLC, Research Division Dimple Gosai - BofA Securities, Research Division Steven Fleishman - Wolfe Research, LLC Anthony Crowdell - Mizuho Securities USA LLC, Research Division Aidan Kelly - JPMorgan Chase & Co, Research Division Presentation Operator Hello, everyone, and thank you for joining The AES Corporation's Q3 2025 Financial Review Call. My name is Claire and I will be coordinating your call today.

AES posts higher Q3 earnings and revenue gains despite missing estimates, reaffirming its 2025 outlook and long-term growth targets.

While the top- and bottom-line numbers for AES (AES) give a sense of how the business performed in the quarter ended September 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

AES (AES) came out with quarterly earnings of $0.75 per share, missing the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.71 per share a year ago.

Reaffirms 2025 Guidance and Long-Term Growth Rate Targets Strategic Accomplishments On track to add 3.2 GW of new projects in operation in 2025 2.9 GW completed year-to-date Year-to-date, signed or awarded new long-term PPAs for 2.2 GW of renewables, including 1.6 GW with data centers On track to sign a total of 14-17 GW for 2023 through 2025 PPA backlog of 11.1 GW, including 5 GW under construction Filed settlements at both AES Indiana and AES Ohio related to outstanding rate reviews Filed a 20-year Integrated Resource Plan (IRP) at AES Indiana Q3 2025 Financial Highlights GAAP Financial Metrics Net Income of $517 million, compared to $215 million in Q3 2024 Net Income Attributable to The AES Corporation of $639 million, compared to $504 million in Q3 2024 Diluted EPS of $0.94, compared to $0.72 in Q3 2024 Non-GAAP Adjusted Financial Metrics Adjusted EBITDA1 of $830 million, compared to $698 million in Q3 2024 Adjusted EBITDA with Tax Attributes1,2 of $1,256 million, compared to $1,174 million in Q3 2024 Adjusted EPS3 of $0.75, compared to $0.71 in Q3 2024 Financial Position and Outlook Reaffirming 2025 guidance for Adjusted EBITDA1 of $2,650 to $2,850 million Reaffirming annualized growth target of 5% to 7% through 2027, off a base of 2023 guidance Reaffirming expectation for 2025 Adjusted EBITDA with Tax Attributes1,2 of $3,950 to $4,350 million Reaffirming 2025 guidance for Adjusted EPS3 of $2.10 to $2.26 Reaffirming annualized growth target of 7% to 9% through 2025, off a base of 2020 and 7% to 9% through 2027, off a base of 2023 guidance ARLINGTON, Va. , Nov. 4, 2025 /PRNewswire/ -- The AES Corporation (NYSE: AES) today reported financial results for the quarter ended September 30, 2025.

Clean energy giant AES is in the spotlight as the stock trends within a buy zone with takeover rumors swirling.