The AES Corp. (NYSE:AES) reported fourth-quarter and full-year 2025 results on Friday, significantly exceeding Wall Street’s bottom-line projections even as the company prepares to go private.
The Arlington, Virginia-based power giant posted an adjusted profit of 81 cents per share, comfortably beating the 62-cent consensus estimate.
The quarterly performance was a bright spot in a week dominated by the announcement that a consortium led by Global Infrastructure Partners (GIP) and EQT has agreed to acquire AES for $15 per share in an all-cash deal valued at $33.4 billion, including debt.
Quarterly revenue of $3.1 billion marked a 4.7% increase year-over-year, though it fell short of the $3.49 billion analysts had targeted.
For the full year, total revenue reached $12.23 billion, essentially flat compared to 2024.
While annual net income dropped to $910 million from $1.68 billion in the prior year—largely due to lower gains on asset sales and higher interest expenses—AES continued its aggressive pivot toward clean energy.
The company completed 3.2 GW of new renewable and storage projects in 2025 and reported that 85% of its new long-term contracts were signed with corporate data center customers, including landmark agreements with Google and Microsoft.