AES posts record 2023 Adjusted EPS $1.76, beats guidance; raises growth targets through 2027

AES CORP

2023-FY EPS reported $0.35 revenue$12,668,000,000

Diluted EPS $0.34 vs -$0.82; Adjusted EPS $1.76 (guidance $1.65-1.75); Net loss $182M improved from $505M loss.
Signed 5.6 GW renewables PPAs in 2023; completed 3.5 GW construction (double 2022); backlog reaches 12.3 GW.
2024 guidance: Adjusted EPS $1.87-1.97; Adjusted EBITDA $2,600-2,900M; reaffirms 7-9% annualized EPS growth through 2025.
Raised long-term growth: Adjusted EPS 7-9% through 2027 (from 6-8%); Adjusted EBITDA 5-7% through 2027 (from 3-5%).
Generated $1.1B asset sale proceeds (target $400-600M); awarded $2.4B DOE grants for hydrogen hubs; dividend growth 2-3% annually after 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

AES CORP reported the year ended December 31, 2023 results: net income ($182) million, EPS $0.34. Guidance raised.

Period: the year ended December 31, 2023
Net income: ($182) million
EPS: $0.34
Guidance: raised
Result: reported results

Exact text from the filing

On February 26, 2024, The AES Corporation (“AES” or the “Company”) issued a press release announcing its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0000874761-24-000013

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