The AES Corporation
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of The AES Corporation (AES). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Energy Infrastructure | – | $6.70B 59.8% | $7.20B 57.6% · +7.5% | $6.81B 54.3% · -5.5% | $6.24B 49.8% · -8.3% |
| Utilities | – | $2.94B 26.3% | $3.62B 28.9% · +22.9% | $3.50B 27.9% · -3.4% | $3.61B 28.8% · +3.2% |
| Renewables | – | $1.56B 13.9% | $1.89B 15.1% · +21.2% | $2.42B 19.3% · +27.6% | $2.51B 20.0% · +3.9% |
| Corporate and Other | – | – | – | – | $162.0M 1.3% |
| New Energy Technologies | – | $7.0M 0.1% | $3.0M 0.0% · -57.1% | $76.0M 0.6% · +2,433.3% | $1.0M 0.0% · -98.7% |
| US and Utilities SBU | $3.92B 40.6% | – | – | – | – |
| South America | $3.16B 32.7% | – | – | – | – |
| MCAC [Member] | $1.77B 18.3% | – | – | – | – |
| EURASIA [Member] | $828.0M 8.6% | – | – | – | – |
| Corporate and Other | -$11.0M -0.1% | – | – | – | – |
| Eliminations | – | – | -$216.0M -1.7% | -$262.0M -2.1% · -21.3% | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 11, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.