The AES Corporation (0H6G.L) Q3 2024 Earnings Report

The AES Corporation reported revenues of $3.29 billion for Q3 2024, marking a solid 11.79% growth quarter-over-quarter (QoQ) despite a 4.22% decline year-over-year (YoY). This improvement was primarily attributed to more favorable weather conditions and increased demand for electricity. The company’s net income surged to $432 million, resulting in a remarkable 133.51% QoQ increase and an impressive 87% YoY growth, driven by disciplined cost management and operational efficiencies. The management highlighted strategic investments in renewable energy sources, emphasizing their commitment to sustainability and long-term growth. However, they acknowledged ongoing pressures from rising interest rates impacting operational costs.