CWEN earnings analysis
What we found in CWEN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Clearway Energy, Inc. reported Q1 2026 results showing impressive revenue growth, with actual revenue hitting $354 million, an increase of 19% year-over-year compared to $298 million in Q1 2025. However, EPS was notably down at -$1.35, significantly missing the expected -$0.40, driven by high operating costs and interest expenses. Management remains committed to maintaining dividend distributions and anticipates growth in Cash Available for Distribution (CAFD) for 2026 despite current challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 19% YoY
- Q1 2026 revenue was $354 million, up from $298 million in Q1 2025.
- Operating Income Record
- Operating income for Q1 2026 was $20 million, compared to losses in the previous year.
- Increase in Cash from Operations
- Net cash provided by operating activities was $401 million, significantly up from $95 million in Q1 2025.
- Successful Acquisition
- Acquisition of the 610 MW Cardinal Portfolio completed for $324 million, expanding operational capacity.
- Stable Cash Position
- Liquidity increased to $1,229 million at the end of Q1 2026, up from $1,061 million.
- Dividends Maintained
- Dividends per Class C share were $0.4602, reflecting commitment to shareholder returns.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant EPS Decline
- EPS was -$1.35 versus expected -$0.40, raising concerns over profitability.
- Increasing Interest Expenses
- Interest expenses decreased to $101 million from $116 million, but remain high relative to revenue.
- Potential Regulatory Risks
- Undergoing regulatory scrutiny could affect operational stability and profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-1.35
- Gross margin
- 43.12%
- Operating margin
- 5.63%
- Segment
- Flexible Generation
- Segment
- Renewables & Storage
What they said about what is next.
CAFD guidance for 2026 remains unchanged at $470 million to $510 million.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 24, 2026
- Clearway positions itself as a large, contracted U.S. owner/operator of clean energy with a 12.9 GW portfolio (≈10.1 GW wind/solar/BESS and ≈2.8 GW Flexible Generation) and a strategy to grow via acquisitions and…
- 10-K · February 25, 2025
- Clearway Energy, Inc. continues to position itself as a leading clean energy provider in North America, with a focus on long-term contracted renewable energy and battery storage assets, comprising approximately 11.8 GW…
- 10-Q · August 1, 2024
- Clearway reported Q2 operating revenues of $366.0M (down $40.0M vs. Q2 2023) and operating income of $84M, leaving an operating margin of ~23.0%. GAAP EPS rose to $0.43 from $0.33 a year ago, supported by non-operating…
- 10-K · February 22, 2024
- Clearway Energy positions itself as a large, North America‑focused owner of contracted renewable and conventional generation with approximately 6,000 net MW of installed wind, solar and storage and ~8,500 net MW of…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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