What is AES?
The AES Corporation is an electrical power provider that supplies energy to 15 countries worldwide. Formerly known as Applied Energy Services, the company was founded in 1981 and at first specialised in consulting, before switching to the energy sector. Today, the AES Corporation has 35 GW of generating capacity and owns seven utility companies and several power plants worldwide. Its head office is based in Arlington, Virginia, in the United States.
What’s the history behind the company?
- 1981 – Founded under the name Applied Energy Services.
- 1985 – The company’s first power plant is built in Texas.
- 1988 – AES becomes the largest Independent Power Provider (IPP) in the US, with three operational plants – Placerita, Deepwater and Beaver Valley.
- 1991 – The company goes public with Roger Sant as Chairman and CEO, and Dennis Bakke as President.
- 1994 – Bakke becomes CEO, taking over from Sant.
- 2000 – The assets of Indianapolis Power & Light are acquired by AES.
- 2002 – Enron’s collapse leads to a liquidity crisis for the company, with Bakke. resigning as CEO and being replaced by Paul Hanrahan.
- 2011 – DPL, Inc. Dayton Power & Light is acquired by the company.
- 2012 – Hanrahan resigns as CEO and is replaced by Andres Gluski.
Facts about the company
AES has over 10,000 employees working across its sites in different parts of the world. AES also has a number of subsidiaries including AES Eletropaulo, AES Energy Storage, AES Gener, AES Tietê, DPL Inc., Dayton Power and Light Company, Indianapolis Power & Light Company (IPL), Fluence, and sPower.
AES operates in 15 countries worldwide through ownership or operation of utility services, bringing electricity to its customers in a variety of sectors: residential, commercial, industrial and governmental. Part of the company’s electricity generation is also sold on the wholesale market.
One of the company’s projects, Fluence, was developed as a partnership between Siemens and AES. Fluence focuses on energy storage technology, and services. It aims to expand its services to over 160 countries and meet the need of a developing energy landscape.
In 2017, the company reported $11 billion in revenue, and $33 billion in total assets. In the 2018 Q1 earnings report, AES reported a diluted EPS of $1.03 per share. In comparison to 2017’s Q1 results of $0.04, this is a significant increase. Its adjusted EPS was $0.28 in the 2018 Q1, compared to $0.17 in 2017.
Where is AES traded?
A Fortune 200 company, AES is traded on the New York Stock Exchange (NYSE) under the ticker symbol AES. The company is a component of the DJUA and S&P 500. To get the latest AES share price and keep on top of the AES charts visit Capital.com.