AES · 10-Q · 2026Q2 · Full report
Operating Cash Flow Trends
AES CORP · 2026-08-04 · Importance 46 · Surprise 56 · No source text
Net cash provided by operating activities increased $726 million to $2.247 billion for the six months ended June 30, 2026, compared with $1.521 billion in the prior-year period. Adjusted net income increased $776 million, primarily because of higher margins at the Renewables, Utilities, and Energy Infrastructure SBUs and increased transfers of U.S. investment tax credits. Working capital reduced the operating cash-flow improvement by $50 million, reflecting higher accounts receivable from increased billings and collection timing, higher regulatory assets in El Salvador, and lower income-tax payables from payment timing. The working-capital impact was partly offset by lower other current assets as tax-credit transfer proceeds were collected.
Key facts
- Net cash provided by operating activities was $2,247 million for the six months ended June 30, 2026 and $1,521 million for the six months ended June 30, 2025. source
- Net cash provided by operating activities increased $726 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. source
- Total Cash Sources for the six months ended June 30, 2026 were $10,073 million and for 2025 were $9,431 million (in millions). source
- Total Cash Uses for the six months ended June 30, 2026 were $(9,852) million and for 2025 were $(9,269) million (in millions). source
- Net cash provided by operating activities was $1,046 million for the three months ended June 30, 2026 and $2,247 million for the six months ended June 30, 2026. source
- As of June 30, 2026, the Company had an $806 million loan receivable related to the Mong Duong facility in Vietnam, of which $96 million was classified in Other current assets and $710 million was classified in Loan receivable. source
- As of June 30, 2026, the Company had approximately $119 million of gross accounts receivable classified as Other noncurrent assets, mostly in the U.S. and Chile. source
- Cash provided by short-term investing activities increased $112 million, primarily due to the timing of deposits at AGIC. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | realized | +1.9% | Net cash provided by operating activities was $1,046 million for the three months ended June 30, 2026 and $2,247 million for the six… |
| cash | positive | realized | +1.3% | Net cash provided by operating activities was $2,247 million for the six months ended June 30, 2026 and $1,521 million for the six months… |
| cash | positive | realized | +1.2% | Total Cash Sources for the six months ended June 30, 2026 were $10,073 million and for 2025 were $9,431 million (in millions). |
| cash | negative | realized | -1.1% | Total Cash Uses for the six months ended June 30, 2026 were $(9,852) million and for 2025 were $(9,269) million (in millions). |
| assets | positive | realized | — | As of June 30, 2026, the Company had an $806 million loan receivable related to the Mong Duong facility in Vietnam, of which $96 million… |