AES Reports Q3 2024 Earnings, Reaffirms Growth Amid Supply Chain Strength
AES Corporation reported its third-quarter 2024 financial results, highlighting robust progress in renewable energy construction and power purchase agreements (PPAs). The company completed 1.2 gigawatts of new projects in the quarter, bringing the year-to-date total to 2.8 gigawatts, nearly 80% of its annual target. AES added 1.3 gigawatts to its PPA backlog, with over 70% sourced from corporate customers, keeping it on track to meet its 2023-2025 signing goals. Financially, adjusted EBITDA reached $692 million, with adjusted EPS at $0.71. While full-year adjusted EBITDA is expected to land at the low end of guidance due to extreme weather in Colombia and lower margins in the Energy Infrastructure unit, the company reaffirmed its growth trajectory through 2027. CEO Andres Gluski emphasized AES's resilient supply chain, noting that most solar panels and battery components for future projects are domestically sourced or contracted, mitigating tariff risks. The company also highlighted strong demand from data centers and mining sectors, expressing confidence in its business plan regardless of upcoming U.S. election outcomes.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection