AES Reports 3Q:24 Results; Boasts 1.2 GW of Construction (PDF Download)

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(AES, 31.Oct.2024) — The AES Corporation reported financial results for the quarter ended 30 Sep. 2024.

“Our third quarter financial results and strategic accomplishments were very much in line with our expectations.  Since our last call, we have signed or been awarded 2.2 GW of long-term contracts for renewables or new data center load growth at our US utilities.  At the same time, we completed the construction of 1.2 GW of new projects,” said Andrés Gluski, AES President and Chief Executive Officer. 

“Finally, we have announced or closed transactions for roughly three-quarters of our $3.5 billion asset sale proceeds target through 2027.  We remain on track to deliver on all of our financial and strategic objectives in 2024 and beyond,” Gluski said.

“With our year-to-date performance and our outlook for the remainder of the year, I am pleased to reaffirm our 2024 guidance and long-term growth rates through 2027 for all metrics,” said Stephen Coughlin, AES Executive Vice President and Chief Financial Officer. 

“We expect our 2024 Adjusted EBITDA with Tax Attributes and our Adjusted EPS to be in the upper half of our ranges, as we have had great success in securing the tax value of our growth investments.  2024 Adjusted EBITDA is expected to be towards the low end of our guidance range, primarily due to extreme weather this year in Colombia and lower margins in our Energy Infrastructure SBU,” Coughlin said.

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Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

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