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Jun 30, 2023
Clearway Energy Q2 2023 Earnings Report
Reported second quarter 2023 financial results, impacted by historically low wind production and lowered 2023 financial guidance.
Key Takeaways
Clearway Energy, Inc. reported Net Income of $84 million, Adjusted EBITDA of $316 million, Cash from Operating Activities of $134 million, and Cash Available for Distribution (CAFD) of $137 million. The company is lowering its 2023 financial guidance due to weaker renewable resource production in the first and second quarters.
Signed agreements with Clearway Group to commit to invest in a 147 MW battery energy storage system and a 160 MW wind farm
Received offer from Clearway Group to invest in a 55 MW wind farm
Updating 2023 financial guidance
Raising Pro Forma CAFD Outlook
Revenue by Segment
Forward Guidance
The Company is updating 2023 full year CAFD guidance from $410 million to a range of $330 million to $360 million and increasing its pro forma CAFD outlook expectations to approximately $420 million due to committed growth investments.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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