2026 Reports — AES Corporation

AES grew Q1 2026 revenue 9% to $3.18bn but lifted operating margin 45% to $640m on a one-off US development-services fee, an AES Ohio rate increase and the absence of prior-year restructuring costs — reported in the first quarter under a signed $15.00-per-share take-private by GIP and EQT.

AES swung to $387M of net income on 20% revenue growth, but roughly half the improvement came from a $186M Fluence share sale, derivative gains and development fees — all while the company sits under a signed $15.00-per-share take-private by GIP and EQT.