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Sentiment · FY2026 Q1
As of FY2025 Q4, the Tellvest earnings-call sentiment score for AES Corporation (AES) is 6/10.
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.
Scored from AES Corporation’s FY2025 Q4 earnings call. The newest quarter is available with Tellvest Pro.
Reported Thursday, Aug 13. Earnings call pending.
A pre-earnings brief is ready for AES: the setup, what peers and partners said this season, and which analysts to watch. Reading it is a Tellvest Pro feature.
On August 27, 2026, The AES Corporation received CFIUS Approval under its March 1, 2026 Agreement and Plan of Merger with Horizon Parent, L.P. and Horizon Merger Sub, Inc., under which Merger Sub will merge into AES with AES continuing as the surviving corporation. CFIUS Approval is a condition to closing of the merger.
On July 21, 2026, the AES audit committee dismissed Ernst & Young LLP as its independent registered public accounting firm because EY will no longer be independent after the closing of the announced merger with Horizon Parent, L.P., jointly controlled by Global Infrastructure Management and the EQT Infrastructure VI fund. The dismissal takes effect on filing of the Form 10-Q for the quarter ended June 30, 2026. No disagreements were disclosed.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.96B | -0.2% | $0.79 | +626.7% | 14.2% | 11.1% | 18.9% | $-639M |
| FY2025 Q1 | $2.93B | -5.2% | $0.07 | -88.3% | 15.0% | 12.4% | 1.6% | $-709M |
| FY2025 Q2 | $2.85B | -3.0% | $-0.15 |
| -137.5% |
| 15.9% |
| 14.2% |
| -3.7% |
| $-356M |
| FY2025 Q3 | $3.35B | +1.9% | $0.89 | +25.4% | 21.9% | 16.5% | 18.9% | $-511M |
| FY2025 Q4 | $3.10B | +4.7% | $0.46 | -41.8% | 18.8% | 16.5% | 10.4% | $-47M |
| FY2026 Q1 | $3.18B | +8.7% | $0.68 | +871.4% | 20.1% | 18.4% | 15.3% | $-565M |
| FY2026 Q2 | $3.42B | +19.9% | $0.60 | +500.0% | 20.2% | 18.4% | 13.6% | $-597M |
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