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Aes Corp (AES) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Aes Corp

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CIK: 874761 Ticker: AES


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Press Release
Investor Contact: Ahmed Pasha 703-682-6451
Media Contact: Amy Ackerman 703-682-6399

AES on Track to Attain Investment Grade Credit Ratings in 2020 and Reaffirms Outlook Through 2022

Strategic Objectives and Accomplishments
•
Leveraging leading position to capture attractive renewable growth by signing 1 GW of new PPAs year-to-date, bringing total backlog to 6.8 GW
•
Growing utilities business by investing in new technologies and grid modernization with a recently filed $1.2 billion plan at IPL
•
Fluence maintaining global leadership in fast-growing energy storage market with 1 GW of projects awarded or delivered

Q2 2019 Financial Highlights
•
Diluted EPS of $0.02, compared to $0.15 in Q2 2018
•
Adjusted EPS1 of $0.26, compared to $0.25 in Q2 2018
•
Reaffirming midpoint of 2019 guidance and 7% to 9% average annual growth target for Adjusted EPS and Parent Free Cash Flow through 20221 

ARLINGTON, Va., August 6, 2019 – The AES Corporation (NYSE: AES) today reported financial results for the quarter ended June 30, 2019.

"We continue to make substantial progress on our strategic priorities: improving our credit profile, investing in new technologies and greening our portfolio. So far this year we have sold 2.4 GW of thermal generation, signed long-term contracts for 1 GW of renewables, and leveraged our existing LNG infrastructure to expand our storage capacity by 50 TBTU in the Dominican Republic. As a result of our actions, we expect to reduce our coal generation to below 30% of our total megawatt-hours of generation by 2022," said Andrés Gluski, AES President and Chief Executive Officer. "I am also pleased to reaffirm our 7% to 9% average annual growth target through 2022, which combined with our current dividend yield, provides a double-digit annual total return to our shareholders."

"Based on our year-to-date results and our expected growth in the second half of the year, we are on track to achieve our 2019 guidance," said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer. "As our portfolio continues to evolve and grow, so will our discretionary cash, which we will use to invest in sustainable generation and our utilities, while maintaining investment grade credit metrics."

Key Q2 2019 Financial Results

Second quarter 2019 Diluted Earnings Per Share from Continuing Operations (Diluted EPS) was $0.02, a decrease of $0.13 compared to second quarter 2018, primarily reflecting the favorable impact of $0.10 related to the sale of businesses in Chile and Brazil in 2018.

The following information was filed by Aes Corp (AES) on Tuesday, August 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Aes Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Equity Statement
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Operations Condensed Consolidated Statement Of Operations (Parentheticals)
Acquisitions
Acquisitions (Details)
Asset Impairment Expense (Details)
Asset Retirement Obligation (Details)
Asset Retirement Obligation (Notes)
Contingencies And Commitments
Contingencies And Commitments (Details)
Contingencies And Commitments (Tables)
Contingencies And Commitments - Loss Contingencies (Details)
Contingencies And Commitments Contingencies And Commitments (Policies)
Debt
Debt (Tables)
Debt - Non-Recourse Debt Narrative (Details)
Debt - Recourse Debt (Details)
Debt - Subsidiary Non-Recourse Debt In Default Or Accelerated (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Part 1 (Details)
Derivative Instruments And Hedging Activities - Part 2 (Details)
Derivative Instruments And Hedging Activities - Part 3 (Details)
Derivative Instruments And Hedging Activities Credit Risk-Related Contingent Features (Details)
Discontinued Operations (Details)
Discontinued Operations (Notes)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Earnings Per Share Eps Policy (Policies)
Equity
Equity (Tables)
Equity Accumulated Other Comprehensive Loss (Details)
Equity Common Stock Dividends (Details)
Equity Reclassifications Out Of Aocl (Details)
Fair Value
Fair Value (Instruments Not Measured At Fair Value) (Details)
Fair Value (Level 3 Reconciliation) (Details)
Fair Value (Nonrecurring Measurements) (Details)
Fair Value (Quantitative Information) (Details)
Fair Value (Recurring Measurements) (Details)
Fair Value (Tables)
Fair Value Investment In Marketable Securities (Details)
Financial Statement Presentation
Financial Statement Presentation (Policies)
Financial Statement Presentation Adoption Of Asu 842 2019 (Details)
Financial Statement Presentation Cash, Cash Equivalents, And Restricted Cash (Tables)
Financial Statement Presentation New Accounting Pronouncement Adopted (Details)
Financial Statement Presentation New Accounting Standards (Tables)
Financing Receivables
Financing Receivables (Details)
Financing Receivables (Tables)
Held-For-Sale And Dispositions (Notes)
Held-For-Sale And Dispositions (Tables)
Held-For-Sale And Dispositions Dispositions (Details)
Income Taxes (Details)
Income Taxes (Notes)
Inventory
Inventory (Details)
Inventory (Tables)
Investment In And Advances To Affiliates
Investments In And Advances To Affiliates (Details)
Investments In And Advances To Affiliates (Tables)
Leases (Policies)
Leases (Tables)
Leases Lessee (Details)
Leases Lessor (Details)
Other Income And Expense
Other Income And Expense (Tables)
Other Income And Expense - Other Expense (Details)
Other Income And Expense - Other Income (Details)
Redeemable Stocks Of Subsidiaries (Details)
Redeemable Stocks Of Subsidiaries (Notes)
Redeemable Stocks Of Subsidiaries (Tables)
Revenue (Details)
Revenue (Notes)
Revenue (Tables)
Revenue Contract Balances (Details)
Revenue Remaining Performance Obligations (Details)
Risks And Uncertainties (Details)
Segments
Segments (Details)
Segments (Tables)
Segments Segments (Policies)
Ticker: AES
CIK: 874761
Form Type: 10-Q Quarterly Report
Accession Number: 0000874761-19-000056
Submitted to the SEC: Tue Nov 05 2019 12:36:30 PM EST
Accepted by the SEC: Wed Nov 06 2019
Period: Monday, September 30, 2019
Industry: Cogeneration Services And Small Power Producers

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