AES Corporation (AES) CEO Andres Gluski on Q1 2022 Results - Earnings Call Transcript

AES Corporation (NYSE:AES) Q1 2022 Results Conference Call May 6, 2022 10:00 AM ET

Company Participants

Susan Harcourt - VP, IR

Andres Gluski - President, CEO

Steve Coughlin - CFO

Conference Call Participants

Insoo Kim - Goldman Sachs

Agnieszka Storozynski - Seaport

David Peters - Wolfe Research

Durgesh Chopra - Evercore

Gregg Orrill - UBS

Julien Dumoulin-Smith - Bank of America

Richard Sunderland - JPMorgan

Ryan Levine - Citi

Operator

Good morning. Thank you for attending today's AES First Quarter 2022 Financial Review Call. My name is Amber, and I will be your moderator for today's call. [Operator Instructions]

I now have the pleasure of handing the conference over to our host, Susan Harcourt, Vice President of Investor Relations with AES. Susan, please go ahead.

Susan Harcourt

Thank you, operator. Good morning, and welcome to our first 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 first quarter 2022 financial review call. I am very happy to report that we have attained an investment-grade rating for Moody's. We are now investment-grade rated by all 3 major agencies, which is an important milestone for our company, and reflects a decade worth of work to transform our business.

We're also reaffirming our 2022 guidance and annualized growth of 7% to 9% through 2025. Our business model continues to demonstrate its resilience and predictability even in the face of market volatility. Steve will cover our expectations for the remainder of the year in more detail, including the seasonality of our earnings profile.

Today, I will discuss our 2022 construction program and the Department of Commerce's investigation into solar panel imports, the diverse drivers of our growth, including signed renewable energy PPAs and our U.S. utility, AES Next influence, and our strategic outlook for the sector. Beginning with our 2022 construction program on Slide 4.