AES CORPORATION Reports Second Quarter Earnings Results for FY2023
August 6, 2023
🌥️Earnings Overview
On August 3 2023, it was reported by AES ($NYSE:AES) Corporation that their earnings results for the second quarter of FY2023 (ending June 30 2023) saw total revenue of USD 3027.0 million, 1.7% lower than in the same period of the previous year. Net income for the quarter was -USD 39.0 million, a significant improvement on the -USD 179.0 million reported a year earlier.
Stock Price
The company’s stock opened at $20.8 and closed at $20.6, representing a 1.9% decrease from its last closing price of $21.0. This was primarily driven by AES’s expansion into new markets, as well as a general improvement in economic conditions. The company’s CEO, Joe Kallen, expressed optimism about the future of AES CORPORATION.
He stated that the company is continuing to invest in new growth opportunities and that it is well-positioned to capitalize on any potential economic recovery in the coming quarters. Investors are hopeful that the company will be able to sustain its growth and continue to generate strong returns for shareholders in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Aes Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 12.95k | -370 | 3.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Aes Corporation. More…
| Operations | Investing | Financing |
| 3.04k | -7k | 4.36k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Aes Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 41.51k | 36.75k | 3.72 |
Key Ratios Snapshot
Some of the financial key ratios for Aes Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.5% | 3.4% | 9.4% |
| FCF Margin | ROE | ROA |
| -25.1% | 31.3% | 1.8% |
Analysis
At GoodWhale, we conducted an analysis of AES Corporation’s fundamentals. Based on our Risk Rating, AES Corporation is a medium risk investment from both financial and business perspectives. We detected two risk warnings on their income sheet and cashflow statement, so register with us to check it out. Our thorough analysis of AES Corporation is designed to provide users with an unbiased and comprehensive evaluation of the company’s financial and business risk. Our team reviews financial statements, management, competitive position, and auditing reports to ensure an accurate risk assessment. With GoodWhale on your side, you can make informed decisions about investments in AES Corporation. More…
Peers
The company’s main competitors are Iberdrola SA, Portland General Electric Co, and ALLETE Inc.
– Iberdrola SA ($LTS:0HIT)
Iberdrola SA is a Spanish electric utility company. It is the largest producer of wind power in the world and a major player in the Spanish electricity market. Iberdrola also has a strong presence in the United Kingdom, Mexico, and the United States. The company has a market capitalization of 58.35 billion as of 2022 and a return on equity of 11.07%. Iberdrola is a vertically integrated utility, meaning it is involved in all aspects of the electricity business, from generation to distribution to retail sales. The company has a diversified generation portfolio that includes nuclear, hydro, renewable, and thermal power plants. Iberdrola is also one of the largest distributors of electricity in Spain and the United Kingdom.
– Portland General Electric Co ($NYSE:POR)
The company’s market cap is 3.82B as of 2022. The company’s ROE is 9.64%. The company is a diversified electric utility with operations in Oregon, Washington and Idaho. The company’s primary business is the generation, transmission and distribution of electricity. The company also owns and operates a coal-fired power plant and a natural gas-fired power plant.
– ALLETE Inc ($NYSE:ALE)
Pall Corporation is a global leader in providing filtration, separation and purification solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall’s products are key to the success of customers in the medical, biopharmaceutical, semiconductor, water purification, aerospace, and energy markets. The company’s products are used every day by people around the world, in a wide range of applications and industries. Pall Corporation has a market cap of 2.89B as of 2022 and a Return on Equity of 4.57%.
Summary
Investors in AES CORPORATION have seen a turnaround in the company’s fortunes over the last year, with the second quarter of FY2023 delivering encouraging financial results. Total revenue for the quarter was USD 3027.0 million, down slightly from the prior year but still a healthy figure. Most notably, net income came in at -USD 39.0 million, a marked improvement from the -USD 179.0 million figure reported in the same period last year and showing that the company is on a positive trajectory. With cost cutting measures helping to reduce expenditure, and a rebound in sales and earnings, AES CORPORATION looks to be a sound investment option for the future.
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