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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Michael Sullivan | Wolfe Research | 8 questions · 13% challenging |
| David Arcaro | Morgan Stanley | 8 questions · 13% challenging |
| Julien Dumoulin-Smith | Jefferies | 8 questions · 13% challenging |
| Nick Campanella | Barclays | 6 questions · 0% challenging |
| Durgesh Chopra | Evercore ISI | 5 questions · 0% challenging |
| Anthony Crowdell | Mizuho Securities | 3 questions · 0% challenging |
| Steve Fleishman | Wolfe Research | 2 questions · 0% challenging |
| Rick Sunderland | JPMorgan | 2 questions · 0% challenging |
| Ryan Levine | Citigroup | 2 questions · 0% challenging |
| Richard Sunderland | Truist Securities | 2 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Wolfe Research | 2 analysts | 10 questions · 10% challenging |
| Morgan Stanley | 1 analyst | 8 questions · 13% challenging |
| Jefferies | 1 analyst | 8 questions · 13% challenging |
| Barclays | 2 analysts | 8 questions · 0% challenging |
| Mizuho Securities | 2 analysts | 5 questions · 0% challenging |
| Evercore ISI | 1 analyst | 5 questions · 0% challenging |
| JPMorgan | 1 analyst | 2 questions · 0% challenging |
| Citigroup | 1 analyst | 2 questions · 0% challenging |
AES posted Q4 revenue of $3.10 billion, up 4.7% YOY, with GAAP operating income surging 55% to $513 million as new renewable capacity and utility rate base investments drove strong operating performance. GAAP EPS fell 42% to $0.46 due to lower asset sale gains and higher interest expense, though adjusted EPS of $0.81 handily beat the $0.62 consensus. The quarter was overshadowed by the announcement of a $33.4 billion take-private by a consortium led by GIP and EQT at $15 per share, a 40% premium, which led to cancellation of the earnings call and cessation of forward guidance.
Capital Allocation | Demand | Regulation Policy | Cloud & AI | Margin | Credit | Revenue Growth | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 8 | 1 | 1 | 3 | 3 | 1 | 2 | |
| 2025Q1 | 6 | 3 | 6 | 2 | 3 | 1 | 1 | |
| 2025Q2 | 2 | 5 | 4 | 3 | 1 | 3 | 3 | |
| 2025Q3 | 3 | 5 | 1 | 7 | 1 | 1 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | |
|---|---|---|---|---|
| Capital Allocation | 8 | 6 | 2 | 3 |
| Demand | 1 | 3 | 5 | 5 |
| Regulation Policy | 1 | 6 | 4 | 1 |
| Cloud & AI | 3 | 7 | ||
| Margin | 3 | 2 | 1 | 1 |
| Credit | 3 | 3 | 1 | |
| Revenue Growth | 1 | 1 | 3 | 2 |
| Capex Investment | 2 | 1 | 3 | 1 |
Calendar quarter Q4 2025Earnings call Mar 2, 2026
FY2025 Q4 in brief
AES posted Q4 revenue of $3.10 billion, up 4.7% YOY, with GAAP operating income surging 55% to $513 million as new renewable capacity and utility rate base investments drove strong operating performance.
Newest quarter is part of Pro ·
Sources. Tellvest earnings-call sentiment score for AES Corporation (AES), FY2025 Q4: 6/10. Scores: AES Corporation’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: AES daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.96B | -0.2% | $0.79 | +626.7% | 14.2% | 18.9% | $-639M |
| FY2025 Q1 | $2.93B | -5.2% | $0.07 | -88.3% | 15.0% | 1.6% | $-709M |
| FY2025 Q2 | $2.85B | -3.0% | $-0.15 | -137.5% | 15.9% | -3.7% | $-356M |
| FY2025 Q3 | $3.35B | +1.9% | $0.89 | +25.4% | 21.9% | 18.9% | $-511M |
| FY2025 Q4Selected | $3.10B | +4.7% | $0.46 | -41.8% | 18.8% | 10.4% | $-47M |
| FY2026 Q1 | $3.18B | +8.7% | $0.68 | +871.4% | 20.1% | 15.3% | $-565M |
| FY2026 Q2 | $3.42B | +19.9% | $0.60 | +500.0% | 20.2% | 13.6% | $-597M |
| Year | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2022 | $12.62B | — | $-0.87 | — | 20.2% | -4.3% | $-1.84B |
| FY2023 | $12.68B | +0.5% | $0.32 | +136.8% | 19.8% | 1.9% | $-4.69B |
| FY2024 | $12.28B | -3.1% | $2.50 | +681.3% | 18.8% | 14.5% | $-4.64B |
| FY2025Selected | $12.23B | -0.4% | $1.27 | -49.2% | 18.1% | 7.3% | $-1.62B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
GAAP revenue YoY +4.69% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
What AES and other companies said about each other on FY2025 Q4 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“a definitive merger agreement to be acquired by a consortium led by Global Infrastructure Partners (GIP) and EQT Infrastructure VI, with CalPERS and Qatar Investment Authority (QIA) as co-underwriters.”
AES agreed to be acquired by a GIP-led consortium for $15.00/share (approx. $33.4B enterprise value), a major take-private of a US utility/renewables operator.
“Moody's FFO to net debt metric tracking ahead of the 10-11% path for 2025, with confidence in achieving 12% target by end of 2026.”
AES cites Moody's credit metric (FFO to net debt) tracking ahead of the agency's path, signaling favorable rating-agency assessment of AES's investment-grade profile.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
AES AES Corporation | 6 | +4.7% | |
| SRE Sempra | 6 | +0.3% |