AES CORP
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
AES$14.92+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
4 | The AES Corporation
Condensed Consolidated Statements of Operations
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (in millions, except share and per share amounts) | ||||
| Revenue: | ||||
| Non-Regulated | $2,269 | $2,352 | $6,132 | $6,654 |
| Regulated | 1,082 | 937 | 3,000 | 2,662 |
| Total revenue | 3,351 | 3,289 | 9,132 | 9,316 |
| Cost of Sales: | ||||
| Non-Regulated | (1,730) | (1,794) | (4,998) | (5,198) |
| Regulated | (886) | (773) | (2,505) | (2,224) |
| Total cost of sales | (2,616) | (2,567) | (7,503) | (7,422) |
| Operating margin | 735 | 722 | 1,629 | 1,894 |
| General and administrative expenses | (46) | (57) | (172) | (198) |
| Interest expense | (348) | (379) | (1,042) | (1,125) |
| Interest income | 76 | 119 | 215 | 312 |
| Loss on extinguishment of debt | (2) | (1) | (15) | (11) |
| Other expense | (26) | (31) | (373) | (153) |
| Other income | 19 | 64 | 57 | 120 |
| Gain (loss) on disposal and sale of business interests | 1 | (1) | 70 | 43 |
| Asset impairment reversals (expense) | (31) | (74) | 74 | (158) |
| Foreign currency transaction gains (losses) | (19) | (28) | (57) | 2 |
| Other non-operating expense | (32) | — | (42) | — |
| INCOME FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES | 327 | 334 | 344 | 726 |
| Income tax benefit (expense) | 226 | (103) | 42 | (52) |
| Net equity in earnings (losses) of affiliates | 1 | (9) | (55) | (21) |
| INCOME FROM CONTINUING OPERATIONS | 554 | 222 | 331 | 653 |
| Loss from disposal of discontinued businesses, net of income tax expense of $0, $7, $0, and $7, respectively | (37) | (7) | (37) | (7) |
| NET INCOME | 517 | 215 | 294 | 646 |
| Less: Net loss attributable to noncontrolling interests and redeemable stock of subsidiaries | 122 | 289 | 296 | 566 |
| NET INCOME ATTRIBUTABLE TO THE AES CORPORATION | $639 | $504 | $590 | $1,212 |
| Increase in redemption value of redeemable stock of subsidiaries | (5) | — | (15) | — |
| NET INCOME AVAILABLE TO THE AES CORPORATION COMMON STOCKHOLDERS | $634 | $504 | $575 | $1,212 |
| AMOUNTS AVAILABLE TO THE AES CORPORATION COMMON STOCKHOLDERS: | ||||
| Income from continuing operations available to The AES Corporation common stockholders | $671 | $511 | $612 | $1,219 |
| Loss from discontinued operations available to The AES Corporation common stockholders | (37) | (7) | (37) | (7) |
| NET INCOME AVAILABLE TO THE AES CORPORATION COMMON STOCKHOLDERS | $634 | $504 | $575 | $1,212 |
| BASIC EARNINGS PER SHARE: | ||||
| Income from continuing operations available to The AES Corporation common stockholders | $0.94 | $0.72 | $0.86 | $1.73 |
| Loss from discontinued operations available to The AES Corporation common stockholders | (0.05) | (0.01) | (0.05) | (0.01) |
| NET INCOME AVAILABLE TO THE AES CORPORATION COMMON STOCKHOLDERS | $0.89 | $0.71 | $0.81 | $1.72 |
| DILUTED EARNINGS PER SHARE: | ||||
| Income from continuing operations available to The AES Corporation common stockholders | $0.94 | $0.72 | $0.86 | $1.71 |
| Loss from discontinued operations available to The AES Corporation common stockholders | (0.05) | (0.01) | (0.05) | (0.01) |
| NET INCOME AVAILABLE TO THE AES CORPORATION COMMON STOCKHOLDERS | $0.89 | $0.71 | $0.81 | $1.70 |
| DILUTED SHARES OUTSTANDING | 714 | 713 | 714 | 713 |
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