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Mar 31, 2023
Clearway Energy Q1 2023 Earnings Report
Reported first quarter 2023 financial results, impacted by weaker renewable resource, but reaffirmed 2023 financial guidance and pro forma CAFD outlook.
Key Takeaways
Clearway Energy, Inc. reported first quarter 2023 financial results including a Net Loss of $(40) million, Adjusted EBITDA of $218 million, Cash from Operating Activities of $75 million, and Cash Available for Distribution (CAFD) of $(4) million. The company reaffirmed its 2023 financial guidance and pro forma CAFD outlook.
Repowering Cedro Hill with PPA extension to 2045 and increasing project size to 160MW
Increased size of revolving credit facility to $700 million
Reaffirming 2023 financial guidance and pro forma CAFD outlook
Increasing the quarterly dividend by 2% to $0.3818 per share in the second quarter of 2023, or $1.5272 per share annualized
Revenue by Segment
Forward Guidance
The Company is reaffirming 2023 full year CAFD guidance of $410 million. The Company's 2023 financial guidance factors in the contribution of committed growth investments based on current expected closing timelines and estimates for merchant energy gross margin at the conventional fleet upon the expiry of their current toll contracts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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