AES · 10-Q · 2026Q2 · Full report

Revenue Performance and Mix

AES CORP · 2026-08-04 · Importance 59 · Surprise 48 · In source text

Consolidated revenue increased $567 million, or 20%, to $3.422 billion in the second quarter of 2026 and increased $821 million, or 14%, to $6.602 billion for the six months ended June 30, 2026. Second-quarter growth included $295 million from Renewables, $190 million from Energy Infrastructure, and $64 million from Utilities. Six-month growth included $449 million from Renewables, $191 million from Utilities, and $126 million from Energy Infrastructure, while the $207 million decline from expiring Maritza PPA contract sales partially offset Energy Infrastructure growth.

Key facts

• Consolidated revenue increased $567 million, or 20%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. source
• Consolidated revenue increased $821 million, or 14%, for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. source
• Renewables SBU revenue increased $295 million for the three months ended June 30, 2026, driven by a $76 million favorable impact from energy derivatives in the U.S., $67 million higher spot sales and prices in Colombia, $63 million due to development services in the U.S., $53 million due to new projects placed in service in the U.S. and Chile, $27 million positive impact from appreciation of the Colombian peso, and $21 million higher retail supply revenues. source
• For the six months ended June 30, 2026, Renewables revenue increased $449 million driven by $126 million due to development services in the U.S., $93 million favorable impact from energy derivatives in the U.S., $90 million due to new projects placed in service in the U.S. and Chile, $48 million higher spot sales and prices in Colombia, $40 million positive impact from Colombian peso appreciation, and $40 million higher retail supply revenues. source
• Energy Infrastructure SBU revenue increased $190 million for the three months ended June 30, 2026, mainly driven by $188 million higher energy and capacity sales and prices in the spot market in Argentina, $25 million higher spot sales in Mexico driven by expiration of a PPA, $24 million higher LNG sales, and $23 million net derivative gains; partially offset by $72 million lower contract sales volume mainly due to expiration of the Maritza PPA in Bulgaria. source
• Utilities SBU revenue increased $64 million for the three months ended June 30, 2026, driven by $38 million due to higher retail rates from AES Ohio’s 2024 DRC Settlement in November 2025 and $35 million due to higher transmission and rider revenues; partially offset by a $10 million decrease in wholesale revenues at AES Indiana. source

Impact estimates