Aes reports strong first quarter results; reaffirms 2024 guidance & long-term growth rates

Signed an additional 1 gw of solar-plus-storage under a long-term contract with amazon, for a total of 2 gw at bellefield in california strategic accomplishments signed 1.2 gw of renewables and energy storage under long-term contracts, bringing total backlog of projects signed under long-term contracts to 12.7 gw includes an additional 1 gw under a 15-year contract with amazon, for a total of 2 gw at bellefield, the largest single solar-plus-storage facility in the us completed the construction or acquisition of 593 mw of renewables; on track to add 3.6 gw of new projects to operations in full year 2024 aes indiana received approval for its rate case settlement, allowing investment in reliability, resiliency and enhanced customer offerings retired 276 mw norgener coal plant in chile, for a total of 13.5 gw of coal exits announced or closed since 2017 q1 2024 financial highlights diluted eps of $0.60, compared to $0.21 in q1 2023 adjusted eps1 of $0.50, compared to $0.22 in q1 2023 net income of $278 million, compared to $189 million in q1 2023 adjusted ebitda2 of $635 million, compared to $628 million in q1 2023 adjusted ebitda with tax attributes2,3 of $863 million, compared to $641 million in q1 2023 financial position and outlook reaffirming 2024 guidance for adjusted eps1 of $1.87 to $1.97 reaffirming annualized adjusted eps1 growth target of 7% to 9% through 2025, off a base of 2020 reaffirming annualized adjusted eps1 growth target of 7% to 9% through 2027, off a base of 2023 guidance reaffirming 2024 guidance for adjusted ebitda2 of $2,600 to $2,900 million reaffirming annualized growth target2 of 5% to 7% through 2027, off a base of 2023 guidance reaffirming expectation of 2024 adjusted ebitda with tax attributes2,3 of $3,550 to $3,950 million arlington, va. , may 2, 2024 /prnewswire/ -- the aes corporation (nyse: aes) today reported financial results for the quarter ended march 31, 2024.
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