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AES AES Utilities — Net equity in losses of affiliates

Other segment segments

New Energy Technologies
-$17M+37.0%
Energy Infrastructure
$15M+275%

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CEOther — Equity in net earnings (loss) of affiliates
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FNFTitle — Equity in (losses) earnings of unconsolidated affiliates
-$2M-300%

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 utilities — net equity in losses of affiliates?
AES (AES) reported utilities — net equity in losses of affiliates of $2M in Q1 2026.
How has AES's utilities — net equity in losses of affiliates changed year-over-year?
AES's utilities — net equity in losses of affiliates decreased by 0.0% year-over-year, from $2M to $2M.
What is the long-term trend for AES's utilities — net equity in losses of affiliates?
Over 4 years (2021 to 2025), AES's utilities — net equity in losses of affiliates has grown at a 27.8% compound annual growth rate (CAGR), from $3M to $8M.
What does utilities — net equity in losses of affiliates mean?
The segment's share of losses from investments in entities where it holds significant influence but not full control. This captures the financial performance impact of joint ventures or minority-owned utility projects.

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