AES · 10-Q · 2026Q3 · Full report
Net Income and Profitability
AES CORP · 2026-11-03 · Importance 48 · Surprise 40 · In source text
Net income attributable to AES increased $876 million to $1.466 billion for the first nine months of 2026, while third-quarter attributable net income declined 13% ($86 million) to $553 million. The nine-month improvement included $323 million of higher Renewables margins, $213 million lower other expense, and $166 million of higher gains on disposal and sale of business interests. In the quarter, lower income tax benefit of $232 million, $57 million higher AES Clean Energy Development impairment expense, and $40 million lower contributions from renewables projects placed in service weighed on attributable income. Higher margins in Renewables, Utilities, and Energy Infrastructure partly offset those quarterly pressures.
Key facts
- AES reported net income of $1,189 million for the nine months ended September 30, 2026, compared with $294 million in the prior-year period, an increase of $895 million. source
- AES nine-month 2026 Adjusted EBITDA increased $713 million, from $2,102 million to $2,815 million, driven partly by higher spot-market sales and prices, U.S. development services, utility rates and demand, and increased ownership of Cochrane. source
- AES net income attributable to the company increased $876 million to $1,466 million for the first nine months of 2026 from $590 million in the prior-year period. source
- AES third-quarter 2026 Adjusted EBITDA increased $260 million, from $830 million to $1,090 million, driven by higher spot-market energy and capacity sales and prices and higher utility retail rates and demand, partly offset by lower contract sales volume, mainly due to expiration of the Maritza PPA in Bulgaria. source
- AES reported third-quarter 2026 net income of $527 million, compared with $517 million in the prior-year quarter, an increase of $10 million. source
- AES net income attributable to the company decreased $86 million, or 13%, to $553 million in the third quarter of 2026 from $639 million; lower tax benefits and higher AES Clean Energy Development impairment expense were among the main reasons. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | realized | +23.1% | AES reported net income of $1,189 million for the nine months ended September 30, 2026, compared with $294 million in the prior-year… |
| net_income | positive | realized | +22.6% | AES net income attributable to the company increased $876 million to $1,466 million for the first nine months of 2026 from $590 million in… |
| operating_income | positive | realized | +18.4% | AES nine-month 2026 Adjusted EBITDA increased $713 million, from $2,102 million to $2,815 million, driven partly by higher spot-market… |
| operating_income | positive | realized | +6.7% | AES third-quarter 2026 Adjusted EBITDA increased $260 million, from $830 million to $1,090 million, driven by higher spot-market energy… |
| net_income | negative | realized | -2.2% | AES net income attributable to the company decreased $86 million, or 13%, to $553 million in the third quarter of 2026 from $639 million;… |
| net_income | positive | realized | +0.3% | AES reported third-quarter 2026 net income of $527 million, compared with $517 million in the prior-year quarter, an increase of $10… |