The AES Corporation(NYSE) AES

The AES Corporation helps power homes and businesses. It makes electricity using wind, solar, and natural gas. The company delivers energy through its own utility networks.

Where the Power Comes From

• Renewables: Solar, wind, energy storage, and hydro facilities; accounted for $1.8 billion of revenue for the six-month period ended June 30, 2026.
• Utilities: Regulated networks that distribute and sell power directly to customers; generated $2.2 billion of revenue for the six-month period ended June 30, 2026.
• Energy Infrastructure: Generation plants using natural gas, coal, and diesel; contributed $2.8 billion of revenue for the six-month period ended June 30, 2026.
• New Energy Technologies: Investments in green energy solutions including the energy storage company Fluence and the AI Fund.

A Roadmap for Growth

• Signed a merger agreement on March 1, 2026, to be acquired by Horizon Parent, L.P. in a transition to private ownership.
• Sold shares in the energy storage firm Fluence in June 2026, resulting in a gain of $186 million.
• Reached a settlement in November 2025 to increase retail rates for customers of its AES Ohio utility.
• Increased its ownership interest in the Cochrane power facility during the first half of 2026.

How the Company Stands Out

AES manages a diverse global energy portfolio with 31,459 megawatts of power generation capacity. The company serves industrial and residential customers across the U.S., Latin America, Europe, and Asia.

By the Numbers

• Total revenue was $3.4 billion in the second quarter of 2026, up 20% year over year.
• Net income reached $387 million in the second quarter of 2026, compared to a $150 million loss in the same period last year.
• Net cash from operating activities was $2.2 billion for the six-month period ended June 30, 2026, up 48% year over year.
• Adjusted EBITDA, a non-GAAP measure, was $1.7 billion for the six-month period ended June 30, 2026.

Bottom Line

AES is shifting toward a cleaner energy mix while maintaining its regulated utility business. The pending merger reflects its evolution into a privately held infrastructure enterprise focused on long-term power solutions.