The AES Corporation (AES) Q3 2022 Earnings Call Transcript
The AES Corporation (NYSE:AES) Q3 2022 Results Conference Call November 4, 2022 10:00 AM ET
Company Participants
Susan Harcourt - VP of IR
Andres Gluski - President, CEO and Director
Steve Coughlin - Executive VP and CFO
Conference Call Participants
Insoo Kim - Goldman Sachs
Richard Sunderland - JPMorgan
Angie Storozynski - Seaport
Julien Patrick Dumoulin-Smith - BofA Securities
Ryan Levine - Citi
Gregg Orrill - UBS
Operator
Ladies and gentlemen, welcome to the AES Corporation Third Quarter 2022 Financial Review Call. My name is Glenn, and I will be coordinating your call today. [Operator Instructions]
I will now hand you over to your host, Susan, to begin. Susan, please go ahead.
Susan Harcourt
Thank you, operator. Good morning, and welcome to our third quarter 2022 financial review call. Our press release, presentation and related financial information are available on our website at aes.com. Today, we will be making forward-looking statements. There are many factors that may cause future results to differ materially from these statements, which are discussed in our most recent 10-K and 10-Q filed with the SEC.
Reconciliations between GAAP and non-GAAP financial measures can be found on our website along with the presentation. Joining me this morning are Andres Gluski, our President and Chief Executive Officer; Steve Coughlin, our Chief Financial Officer; and other senior members of our management team.
With that, I will turn the call over to Andres.
Andres Gluski
Good morning, everyone, and thank you for joining our third quarter 2022 financial review call. This morning, we reported third quarter adjusted EPS of $0.63, bringing our year-to-date adjusted EPS to $1.18. With these results, we now expect our full year adjusted EPS to come in at or near the high end of our guidance range of $1.55 to $1.65.
We're also reaffirming our 7% to 9% annualized growth target for adjusted EPS and parent cash flow through 2025. Steve Coughlin, our CFO, will discuss our financial results in more detail shortly. Our business model continues to demonstrate its resilience with strong contractual protections and natural hedges that have insulated us well from foreign currency movements, higher interest rates and volatile commodity prices. In addition, the vast majority of our business is with U.S. utilities or investment-grade off-takers.
Turning to Slide 4. At the same time, we have built flexibility into our portfolio, which has allowed us to capture upside in the current environment. For example, in Panama, we've been able to redirect Henry Hub priced LNG to European markets to capitalize on high international gas prices.