AES CORP recently released its 10-Q report, revealing a diversified power generation and utility company operating in the United States and internationally. The company owns and operates power plants, utilities, and renewable energy projects, with a generation portfolio of approximately 32,109 megawatts and a customer base of 2.7 million.
The report's ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS reveals that in the second quarter of 2025, AES CORP experienced a decrease in net income by $303 million compared to the previous year, primarily due to higher income tax expense and day-one losses on the commencement of sales type leases at AES Clean Energy Development. However, adjusted EBITDA increased by $23 million, driven by higher contributions from the Renewables SBU, and adjusted EBITDA with Tax Attributes increased by $208 million.
Compared to the previous year, net income for the six months ended June 30, 2025, decreased by $654 million, primarily driven by lower earnings from the Energy Infrastructure SBU. Adjusted EBITDA decreased by $26 million, while adjusted EBITDA with Tax Attributes increased by $117 million.
The report also highlights AES's strategic performance, indicating its leading role in the industry's transition to clean energy by investing in renewables, utilities, and technology businesses. The company's PPA backlog includes 12 GW of projects with signed contracts, and it completed the construction of 1.2 GW of energy storage and solar in the second quarter of 2025.
In terms of financial results, the consolidated revenue decreased by $87 million, or 3%, for the three months ended June 30, 2025, compared to the same period in 2024. Operating margin also decreased by $100 million, or 18%, for the same period.
As a result of these announcements, the company's shares have moved 0.61% on the market, and are now trading at a price of $13.23. For the full picture, make sure to review AES CORP's 10-Q report.
