AES said its second-quarter net loss increased from $19 million a year earlier to $39 million, up $20 million. In the same quarter, Adjusted EBITDA, a non-GAAP measure, rose $83 million from $569 million to $652 million.

1. 01

   AES said its second-quarter net loss increased from $19 million a year earlier to $39 million, up $20 million. In the same quarter, Adjusted EBITDA, a non-GAAP measure, rose $83 million from $569 million to $652 million.

2. 02

   The company said its net income for the six months ended June 30, 2024 increased from $170 million to $239 million, up $69 million. Diluted earnings per share from continuing operations rose from $0.16 to $0.87, an increase of $0.71.

3. 03

   AES said asset impairment expense for Q2 increased from $174 million to $230 million, up $56 million. The company cited a $217 million impairment at AES Brasil upon meeting held-for-sale criteria as the reason for the increase.

4. 04

   AES said its total recourse debt was $6.1 billion as of June 30, 2024 and $4.5 billion as of December 31, 2023. For the 6-month change in financing cash flows, the company pointed to increased net borrowings under the Parent Company revolver and commercial paper.

Key figures

Quarter ended June 30, 2024

Revenue

$2.9B

Net income

$185M

EPS

$0.27

Gross profit

$553M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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