AES Turns To Q4 Profit; Provides Annual EPS Outlook Above View; Stock Up In Pre-market

AES

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(RTTNews) - The AES Corporation (AES) Friday reported a profit for the fourth quarter compared with loss last year, that reflected gain on sale of business interests as well as lower asset impairment expense. Earnings beat analysts' view. The power generation and utility company also provided fiscal 2025 EPS outlook above the consensus estimates. AES shares were more than 5 percent up in pre-market.

The company posted net income of $560 million or $0.79 per share for the quarter compared with net loss of $94 million or $0.14 per share in the same quarter a year ago.

In the latest quarter, the company had gain on sale of business interests of $401 million compared with $138 million last year. Asset impairment expense decreased to $216 million from $715 million.

Excluding one-time items, adjusted earnings were $423 million or $0.54 per share, down from $670 million or $0.73 per share in the prior year.

Revenue for the quarter was $2.962 billion, nearly flat with last year's $2.968 billion.

On average, 9 analysts expected the company to report earnings of $0.35 per share on revenue of $3.07 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to 2025, the company expects adjusted EPS to be in the range of $2.10 to $2.26. The Street is looking for EPS of $2.03. AES also confirmed its annualized growth target of 5 percent to 7 percent through 2027.

AES stock had closed at $10.38, down 4.95 percent on Thursday. It has traded in the range of $9.88 - $22.21 in the last 1 year.