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Clearway Energy Inc. CWEN recorded first-quarter 2025 earnings of 3 cents per share, which surpassed the Zacks Consensus Estimate of a loss of 25 cents by 112%. In the year-ago quarter, the company reported a loss of 2 cents per share. (See the Zacks Earnings Calendar to stay ahead of market-making news)
CWEN’s Revenues
Total revenues of $298 million missed the Zacks Consensus Estimate of $311 million by 4.1%. In the year-ago quarter, the company reported revenues of $263 million.
Clearway Energy, Inc. Price, Consensus and EPS Surprise
Clearway Energy, Inc. price-consensus-eps-surprise-chart | Clearway Energy, Inc. Quote
Highlights of CWEN’s Earnings Release
Adjusted EBITDA for the quarter totaled $252 million compared with $211 million in the year-ago period.
Total operating costs and expenses for the quarter were $298 million, up 2.1% from the year-ago figure of $292 million. This was due to higher depreciation, amortization and accretion costs.
CWEN incurred interest expenses of $116 million compared with $57 million in the year-ago quarter.
On April 25, 2025, the company entered into a binding agreement to acquire an approximately 100 megawatt (MW) operating solar project located in California from a third party. CWEN expects its corporate capital commitment to acquire the facility to be between $120 million and $125 million. The project reached commercial operations in 2013 and has a revenue contract with an investment-grade utility through 2038.
On April 29, 2025, the company closed the acquisition of Tuolumne Wind, a 137 MW wind project located in Klickitat County, WA, from Turlock Irrigation District. The project has a PPA with Turlock Irrigation District, an investment-grade regulated entity, with an initial contract term of 15 years to 2040.
CWEN’s Financial Position
Clearway Energy had cash and cash equivalents of $297 million as of March 31, 2025, compared with $332 million as of Dec. 31, 2024.
Total liquidity as of March 31, 2025, was $1.325 billion compared with $1.33 billion recorded as of Dec. 31, 2024.
Long-term debt as of March 31, 2025, amounted to $7.23 billion compared with $6.75 billion as of Dec. 31, 2024.
Net cash provided by operating activities in the first quarter totaled $95 million compared with $81 million in the year-ago quarter.
CWEN’s Guidance
The company continues to expect 2025 adjusted EBITDA to be in the range of $1.195-$1.235 billion.
Cash from Operating Activities is expected to be in the range of $844-$884 million for the year.
Clearway Energy reaffirmed its guidance for 2025 cash available for distribution (CAFD) in the range of $400-$440 million.