The AES Corporation (NYSE: AES) has released its financial results for the second quarter of 2025, showcasing key strategic accomplishments and financial highlights. Let's delve into the numbers to understand the company's performance.
In terms of financial metrics, the company reported a net loss of $150 million for the second quarter of 2025, a significant decrease compared to a net income of $153 million in the same period last year. The net loss attributable to the AES Corporation was $95 million, down from a net income of $276 million in the second quarter of 2024. Diluted earnings per share (EPS) stood at ($0.15) for the second quarter of 2025, a decline from $0.39 in the second quarter of 2024.
On a non-GAAP adjusted basis, the company's adjusted EBITDA was $681 million, up from $658 million in the second quarter of 2024. Adjusted EBITDA with tax attributes reached $1,057 million, marking a substantial increase from $849 million in the second quarter of 2024. Adjusted EPS for the second quarter of 2025 was $0.51, compared to $0.38 in the same period last year.
The company remains optimistic about its outlook, reaffirming its 2025 guidance for adjusted EBITDA in the range of $2,650 to $2,850 million and adjusted EPS in the range of $2.10 to $2.26.
Notably, the renewables strategic business unit (SBU) witnessed a remarkable 56% growth in adjusted EBITDA compared to the second quarter of 2024.
Strategically, the company is on track to add 3.2 GW of new projects in operation in 2025, with 1.9 GW already completed and the remaining 1.3 GW 78% complete. Additionally, AES has signed or been awarded new long-term power purchase agreements (PPAs) for 1.6 GW of solar and wind since the first quarter call in May, all with data center companies.
In terms of its financial position and outlook, the company is confident in its ability to deliver on its 2025 guidance and long-term growth rate targets through 2027.
AES President and CEO Andrés Gluski emphasized the company's strong position, citing a well-protected 12 GW backlog of signed long-term PPAs and a diversified operating portfolio.
Stephen Coughlin, AES Executive Vice President and Chief Financial Officer, highlighted the company's robust growth in adjusted EBITDA at the renewables SBU and expressed confidence in reaffirming the 2025 guidance and long-term growth rate targets.
The company's strategic accomplishments include the completion of 1.2 GW of energy storage and solar, including the 1 GW Bellefield 1 solar-plus-storage facility. AES is also on track to add a total of 3.2 GW to its operating portfolio by year-end 2025.
Following these announcements, the company's shares moved 0.54%, and are now trading at a price of $13.15. For more information, read the company's full 8-K submission here.
