AES Reports First Quarter 2011 Results of $0.22 Adjusted Earnings Per Share

The AES Corporation AES today reported results for the first quarter of 2011. The Company's proportional gross margin was stable versus the first quarter of 2010. Strong performance in Latin America was offset by lower volumes in Asia and lower prices in Europe. First Quarter Diluted Earnings Per Share from Continuing Operations increased versus the First Quarter of 2010 by $0.06 to $0.30, reflecting the impact of higher volumes in Latin America, lower parent interest expense in 2011 and favorable foreign currency. First Quarter Adjusted Earnings Per Share declined versus the First Quarter of 2010 by $0.06 to $0.22, primarily due to higher share count but in line with our expectations. The balance of 2011 will benefit from the addition of over 1,700 MW of new capacity coming on-line by year-end.