AES - AES posts Q4 earnings beat intends to exit coal by 2025

AES Corp. (AES -0.6%) shares edge lower after beating expectations for Q4 earnings and revenues, and announcing plans to exit coal by 2025 through a combination of asset sales, fuel conversions and retirements. AES also issues in-line guidance for FY 2022, seeing adjusted EPS of $1.55-$1.65, vs. $1.63 analyst consensus estimate, and reaffirms its 7%-9% annualized growth rate target through 2025 from a base year of 2020. The utility said its growth outlook rate includes the impact of its accelerated plan to exit coal by 2025, which is expected to be largely offset by increased contributions from higher ownership of AES Andes, as well as continued higher growth in renewables. During 2022-25, AES expects to receive $1B in asset sale proceeds, compared to its prior expectation of receiving $500M of asset sale proceeds. AES said it added more than 2 GW of renewables and energy storage to its portfolio last year,

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AES posts Q4 earnings beat, intends to exit coal by 2025