AES
Operates renewable generation, regulated utilities, conventional power assets, and energy-technology investments.
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Profile
Owns and operates renewable generation, regulated utilities, conventional power infrastructure, and energy-technology investments, earning from electricity and capacity sales, utility service, and contracted projects. Operations span the United States and international markets, with a shareholder-approved take-private transaction awaiting regulatory approvals and closing.
Owns and operates renewable generation, regulated electric utilities, conventional power plants, and energy-technology investments across the United States and international markets. Renewables spans solar, wind, storage, and hydro projects; Utilities includes AES Indiana, AES Ohio, and AES El Salvador. Energy Infrastructure covers gas, LNG, coal, pet coke, diesel, and oil generation, while New Energy Technologies includes Fluence and Maximo.
Combines project development, contracting, financing, construction, and operations, selling electricity and capacity to utilities, corporations, intermediaries, and retail customers. Execution depends on project delivery, access to capital, utility and environmental regulation, fuel and equipment supply, and conditions in developing markets. A shareholder-approved acquisition by a consortium led by Global Infrastructure Partners and EQT remains subject to regulatory approvals and closing.
Company facts
Key statistics
Year to date −0.7% · Average volume (30d) 6.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Apr 9, 2026 | Susquehanna | Downgrade | Positive | Neutral | ||
| Mar 26, 2026 | Argus Research | Downgrade | Buy | Hold | ||
| Mar 6, 2026 | Morgan Stanley | Downgrade | Overweight | Equal Weight | ||
| Mar 3, 2026 | Mizuho | Downgrade | Outperform | Neutral | ||
| Feb 27, 2026 | Seaport Global | Upgrade | Sell | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $0.45 | $0.44 | −2.2% | $3.11B | $3.42B | +10.0% | +0.14% |
| May 5, 2026Q1 FY26 | $0.50 | $0.67 | +34.0% | $3.11B | $3.18B | +2.4% | −0.21% |
| Mar 2, 2026Q4 FY25 | $0.62 | $0.81 | +30.6% | $3.03B | $3.10B | +2.3% | −0.21% |
| Nov 5, 2025Q3 FY25 | $0.71 | $0.75 | +5.3% | $3.37B | $3.35B | −0.5% | −0.21% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.93B | $2.86B | $3.35B | $3.10B | $3.18B | $3.42B | |
| Gross profit | $440.0M | $454.0M | $735.0M | $582.0M | $640.0M | $692.0M | |
| Operating income | $363.0M | $405.0M | $554.0M | $513.0M | $585.0M | $630.0M | |
| Net income | $46.0M | −$105.0M | $634.0M | $322.0M | $487.0M | $465.0M | |
| Diluted EPS | $0.07 | −$0.15 | $0.89 | $0.46 | $0.68 | $0.60 | |
| Gross margin | 15.0% | 15.9% | 21.9% | 18.8% | 20.1% | 20.2% | |
| Operating margin | 12.4% | 14.2% | 16.5% | 16.5% | 18.4% | 18.4% |
Fiscal years (4-quarter sums)FY21 $11.14B · FY22 $12.62B · FY23 $12.68B · FY24 $12.28B · FY25 $12.23B
Revenue by product · Q2 FY26
Revenue by geography · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $1.85B · Total debt $32.12B · Total assets $54.24B · Shareholders' equity $4.94B
Dividends
Raised for 13 straight years — most recently to $0.176 from $0.1725 in Jan 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 31, 2026 | Jul 31 | Aug 14 | $0.176 | |
| May 1, 2026 | May 1 | May 15 | $0.176 | |
| Jan 30, 2026 | Jan 30 | Feb 13 | $0.176 | |
| Oct 31, 2025 | Oct 31 | Nov 14 | $0.176 | |
| Aug 1, 2025 | Aug 1 | Aug 15 | $0.176 | |
| May 1, 2025 | May 1 | May 15 | $0.176 | |
| Jan 31, 2025 | Jan 31 | Feb 14 | $0.176 | raised from $0.1725 |
| Nov 1, 2024 | Nov 1 | Nov 15 | $0.1725 |
Ownership
Shares outstanding 713.16M · Float 708.91M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 49.28M | 6.91% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 46.50M | 6.52% | 13F | Aug 13, 2026 |
| State Street Corp | 42.89M | 6.01% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 35.37M | 4.96% | 13F | Aug 13, 2026 |
| Balyasny Asset Management L.P. | 34.63M | 4.86% | 13F | Aug 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- NextEra Energy
Broad overlap in renewables, storage, utilities, and energy infrastructure
- Constellation Energy
Large clean-power and dispatchable-generation rival for C&I load
- Vistra
Competitive power-generation peer with gas, nuclear, coal, solar, and storage
- Duke Energy
Regulated utility peer with overlapping Midwest utility and generation exposure
- American Electric Power
Regional utility and transmission peer in AES Ohio and Indiana markets
- Brookfield Renewable
Global renewable-power platform competing for clean contracts and storage
- Clearway Energy
Contracted U.S. clean-power peer across wind, solar, storage, and gas
- Enel Chile (ADR)
Chile generation and distribution peer with renewables-plus-BESS exposure
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AES | $14.72 | 0.00% | $10.50B | 5.6 | 7.6 | 0.8 | +19.9% |
| NextEra Energy | $81.84 | +0.02% | $170.72B | 18.3 | 19.9 | 5.9 | +12.5% |
| Constellation Energy | $277.11 | +0.13% | $99.38B | 26.9 | 22.4 | 3.2 | +23.0% |
| Vistra | $138.00 | +0.67% | $46.22B | 23.1 | 14.6 | 2.9 | −5.5% |
| Duke Energy | $120.20 | −0.02% | $93.75B | 18.1 | 17.7 | 2.8 | +1.1% |
| American Electric Power | $125.76 | +2.84% | $66.59B | 21.2 | 18.4 | 3.0 | +7.0% |
| Brookfield Renewable | $32.20 | −0.28% | $4.77B | — | — | 1.1 | +29.8% |
| Clearway Energy | $32.00 | +0.69% | $6.53B | 41.8 | — | 4.1 | +22.7% |
| Enel Chile (ADR) | $4.35 | +0.18% | $6.02B | 10.5 | 11.4 | 1.4 | −10.1% |
| Median | 21.2 | 18.0 | 2.9 | +9.7% |