Robust Financial Performance with Strategic Renewable Energy Initiatives
AES Corp beat Wall Street estimates for first-quarter profit on Thursday, as the utility firm benefited from higher contributions from renewables projects and lower cost of sales. The Virginia-based company said its renewables unit grew from last year, benefiting from a global push to adopt cleaner methods of power generation. The company's earnings were also helped by lower quarterly cost of sales, down 6.8% to $2.47 billion from the previous year.
The AES Corporation (NYSE: AES) today reported financial results for the quarter ended March 31, 2024.