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Clearway Energy (CWEN) Incurs Loss in Q1, Beats on Revenues
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Clearway Energy Inc. (CWEN - Free Report) reported first-quarter 2019 loss of 18 cents per share against earnings of 16 cents in the year-ago period. The reported loss also fared unfavorably with the Zacks Consensus Estimate of earnings of 2 cents per share.
Total Revenues
The company's total revenues in first-quarter 2019 were $217 million, surpassing the Zacks Consensus Estimate of $212 million by 2.4%. However, the top line was down 3.5% from the year-ago reported figure.
Highlights of the Release
Interest expenses in the first quarter amounted to $101 million, increasing 83.6% from a year ago.
Operating income in the reported quarter was $41 million, down 16.3% from the year-ago level.
Clearway Energy, Inc. Price, Consensus and EPS Surprise
Clearway Energy had cash and cash equivalents of $117 million as of Mar 31, 2019, down from $407 million on Dec 31, 2018.
Long-term debt as of Mar 31, 2019 was $4,225 million, reflecting a decline from $5,447 million on Dec 31, 2018.
The company's net cash flow from operating activities during first-quarter 2019 was $61 million compared with $65 million in the prior-year period.
Guidance
Clearway Energy expects 2019 adjusted EBITDA to be $995 million and cash available for distribution to be $270 million. Net income in 2019 is expected to be $165 million.
DTE Energy Company (DTE - Free Report) reported first-quarter 2019 operating earnings per share of $2.05, which beat the Zacks Consensus Estimate of $1.95 by 5.1%.
Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2019 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate.
ALLETE, Inc. (ALE - Free Report) reported first-quarter 2019 adjusted earnings of $1.18 per share, missing the Zacks Consensus Estimate of $1.19 by 0.84%.
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Clearway Energy (CWEN) Incurs Loss in Q1, Beats on Revenues
Clearway Energy Inc. (CWEN - Free Report) reported first-quarter 2019 loss of 18 cents per share against earnings of 16 cents in the year-ago period. The reported loss also fared unfavorably with the Zacks Consensus Estimate of earnings of 2 cents per share.
Total Revenues
The company's total revenues in first-quarter 2019 were $217 million, surpassing the Zacks Consensus Estimate of $212 million by 2.4%. However, the top line was down 3.5% from the year-ago reported figure.
Highlights of the Release
Interest expenses in the first quarter amounted to $101 million, increasing 83.6% from a year ago.
Operating income in the reported quarter was $41 million, down 16.3% from the year-ago level.
Clearway Energy, Inc. Price, Consensus and EPS Surprise
Clearway Energy, Inc. Price, Consensus and EPS Surprise | Clearway Energy, Inc. Quote
Financial Position
Clearway Energy had cash and cash equivalents of $117 million as of Mar 31, 2019, down from $407 million on Dec 31, 2018.
Long-term debt as of Mar 31, 2019 was $4,225 million, reflecting a decline from $5,447 million on Dec 31, 2018.
The company's net cash flow from operating activities during first-quarter 2019 was $61 million compared with $65 million in the prior-year period.
Guidance
Clearway Energy expects 2019 adjusted EBITDA to be $995 million and cash available for distribution to be $270 million. Net income in 2019 is expected to be $165 million.
Zacks Rank
Clearway Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
DTE Energy Company (DTE - Free Report) reported first-quarter 2019 operating earnings per share of $2.05, which beat the Zacks Consensus Estimate of $1.95 by 5.1%.
Xcel Energy Inc. (XEL - Free Report) posted first-quarter 2019 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate.
ALLETE, Inc. (ALE - Free Report) reported first-quarter 2019 adjusted earnings of $1.18 per share, missing the Zacks Consensus Estimate of $1.19 by 0.84%.
Radical New Technology Creates $12.3 Trillion Opportunity
Imagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>