AES said net income for Q2 2025 decreased $303 million from $153 million to a net loss of $150 million. The company cited higher income tax expense and day-one losses on the commencement of sales-type leases at AES Clean Energy Development as factors.

10-QQuarterly reportFiled Aug 1, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

AES said net income for Q2 2025 decreased $303 million from $153 million to a net loss of $150 million. The company cited higher income tax expense and day-one losses on the commencement of sales-type leases at AES Clean Energy Development as factors.
AES said Adjusted EBITDA (non-GAAP) for Q2 increased from $658 million to $681 million, and Adjusted EPS (non-GAAP) increased from $0.38 to $0.51. The company cited a lower adjusted tax rate and higher contributions from new renewables projects as factors in the Adjusted EPS increase.
AES said net cash provided by operating activities for the 6 months ended June 30, 2025 increased $842 million compared with the prior year. The company identified increased adjusted net income of $109 million and an increase in working capital changes of $733 million as components.
AES said total recourse debt as of June 30, 2025 was $5.8 billion and was $5.7 billion as of December 31, 2024. The company said the total amount of non-recourse debt classified as current on the consolidated balance sheet was $2.7 billion.

Key figures

Quarter ended June 30, 2025

Revenue: $2.9B
Net income: −$95M
EPS: −$0.15
Gross profit: $453M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Q2 Net Loss

AES said net income for Q2 2025 decreased $303 million from $153 million to a net loss of $150 million. The company cited higher income tax expense and day-one losses on the commencement of sales-type leases at AES Clean Energy Development as factors.

Source · Based on the MD&A text of the filing

Q2 Adjusted Metrics Changes

AES said Adjusted EBITDA (non-GAAP) for Q2 increased from $658 million to $681 million, and Adjusted EPS (non-GAAP) increased from $0.38 to $0.51. The company cited a lower adjusted tax rate and higher contributions from new renewables projects as factors in the Adjusted EPS increase.

Source · Based on the MD&A text of the filing

6-Month Operating Cash Flow Increase

AES said net cash provided by operating activities for the 6 months ended June 30, 2025 increased $842 million compared with the prior year. The company identified increased adjusted net income of $109 million and an increase in working capital changes of $733 million as components.

Source · Based on the MD&A text of the filing

Current Recourse Debt as of June 30

AES said total recourse debt as of June 30, 2025 was $5.8 billion and was $5.7 billion as of December 31, 2024. The company said the total amount of non-recourse debt classified as current on the consolidated balance sheet was $2.7 billion.

Source · Based on the MD&A text of the filing

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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