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AES AES Renewables — Net equity in losses of affiliates

Other segment segments

New Energy Technologies
-$17M+37.0%
Energy Infrastructure
$15M+275%
Utilities
$2M0.0%

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CNNEJANA — Equity in losses of unconsolidated affiliates
$400K-83.3%

Other financials

Income statement

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Revenue$3.2B+8.7%
Gross profit$640.0M+45.1%
Net income$487.0M+959%
EPS (diluted)$0.68+871%

Balance sheet

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Cash & equivalents$2.3B-9.6%
Total debt$1.2B+17.8%
Total equity$4.4B+27.5%
Total assets$52.8B+8.6%

Cash flow

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Operating cash flow$1.2B+120%
CapEx$1.8B+40.8%
Free cash flow-$565.0M+20.3%

Valuation

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Market cap$10.49B+14.7%
P/E7.8×-2.2×
P/S0.8×+0.1×

Profitability

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Gross margin19.3%+1.7pp
Net margin10.8%+0.2pp
FCF margin-11.8%-4.4pp

Returns & leverage

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Return on equity34.3%-6.4pp
Debt / equity0.3×0.0×
Current ratio0.7×-0.1×

Where this comes from

Reported directly by AES in its filing.

Tagged under the XBRL concept us-gaap:IncomeLossFromEquityMethodInvestments.

The source filing: AES’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000874761-26-000120
Three Months Ended March 31,Interest Income / 2026Interest Income / 2025Interest Expense / 2026Interest Expense / 2025Net Equity in Earnings (Losses) of Affiliates / 2026Net Equity in Earnings (Losses) of Affiliates / 2025
Renewables SBU$25$21$125$131$(7)$(9)
Utilities SBU22777722
Energy Infrastructure SBU35416574154
New Energy Technologies SBU2(17)(27)
Corporate and Other338660(1)(4)
Total$65$69$353$342$(8)$(34)

Item 1. FINANCIAL STATEMENTS (UNAUDITED)

FAQ

What is AES's renewables — net equity in losses of affiliates?
AES (AES) reported renewables — net equity in losses of affiliates of -$7M in Q1 2026.
How has AES's renewables — net equity in losses of affiliates changed year-over-year?
AES's renewables — net equity in losses of affiliates increased by 22.2% year-over-year, from -$9M to -$7M.
What is the long-term trend for AES's renewables — net equity in losses of affiliates?
Over 3 years (2021 to 2025), AES's renewables — net equity in losses of affiliates has grown at a -39.4% compound annual growth rate (CAGR), from $63M to -$14M.
What does renewables — net equity in losses of affiliates mean?
Represents the segment's share of losses from investments in entities where it holds a non-controlling interest. This metric highlights the performance of joint ventures or minority-owned renewable projects.

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