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Clearway Energy Q1 Loss Wider Than Estimates, Revenues Increase Y/Y
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Key Takeaways
CWEN Q1 loss was $1.35 per share, wider than the 45 cents loss estimate and vs. 3 cents EPS last year.
CWEN revenues rose 18.8% to $354M and beat estimates; adjusted EBITDA edged up to $257M from $252M.
CWEN bought Cardinal Portfolio for $324M; cash rose to $325M, and long-term debt increased to $8.5B.
Clearway Energy Inc. (CWEN - Free Report) reported a first-quarter 2026 loss of $1.35 per share, wider than the Zacks Consensus Estimate of a loss of 45 cents. However, in the year-ago quarter, the company reported earnings of 3 cents.
CWEN’s Revenues
Total revenues of $354 million surpassed the Zacks Consensus Estimate of $331 million by 6.8%. The top line increased 18.8% from the year-ago quarter’s figure of $298 million.
Clearway Energy, Inc. Price, Consensus and EPS Surprise
Adjusted EBITDA for the quarter totaled $257 million compared with $252 million in the year-ago period.
Total operating costs and expenses for the quarter were $334 million, up 12.1% from the year-ago figure of $298 million. This was primarily driven by higher operating costs, increased depreciation, amortization and accretion expenses, along with a rise in general and administrative costs, and higher transaction and integration expenses.
The company generated operating income of $20 million in the first quarter of 2026.
CWEN incurred interest expenses of $101 million compared with $116 million in the year-ago quarter.
On March 30, 2026, Clearway Energy, through its indirect subsidiaries, acquired Cardinal Portfolio for total cash consideration of $324 million.
Developments After First-Quarter Close
On May 1, 2026, the Honeycomb Portfolio battery energy storage system (BESS) facilities in Utah, comprising four BESS projects with a combined capacity of 320 megawatts, reached substantial completion. The portfolio is backed by 20-year tolling agreements with an investment-grade utility. Clearway Energy’s total capital investment in the projects was $97 million.
CWEN’s Financial Position
Clearway Energy had cash and cash equivalents of $325 million as of March 31, 2026 compared with $231 million as of Dec. 31, 2025.
Total liquidity as of March 31, 2026 was $1.23 billion compared with $1.06 billion recorded as of Dec. 31, 2025.
Long-term debt as of March 31, 2026 amounted to $8.5 billion compared with $7.9 billion as of Dec. 31, 2025.
Net cash provided by operating activities in the first three months of 2026 was $401 million compared with $95 million in the year-ago period.
CWEN’s Guidance
Clearway Energy projects 2026 cash available for distribution (CAFD) to lie between $470 million and $510 million.
The company projects CAFD to lie in the range of $2.90-$3.10 per share for the period, reiterating 2030.
CWEN expects 2026 Adjusted EBITDA to lie in the range of $1.441-$1.481 billion.
Cash from operating activities for 2026 is expected to be in the range of $1.022-$1.062 billion.
Ormat Technologies Inc. (ORA - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $1.30, which beat the Zacks Consensus Estimate of 92 cents by 41.3%. The bottom line also increased 91.2% from 68 cents in the year-ago quarter.
ORA generated revenues of $403.9 million, which topped the Zacks Consensus Estimate of $349 million by 15.6%. The top line also increased 75.8% year over year.
Sempra (SRE - Free Report) reported first-quarter 2026 adjusted EPS of $1.51, in line with the Zacks Consensus Estimate. The bottom line increased 4.9% from the year-ago quarter’s figure of $1.44.
Revenues of $3.66 billion missed the Zacks Consensus Estimate of $4.15 billion by 11.8%. The top line decreased 3.9% from $3.8 billion in the year-ago quarter.
Talen Energy Corporation (TLN - Free Report) reported first-quarter 2026 adjusted earnings of $5.55 per share, which beat the Zacks Consensus Estimate of $5.28 by 5%. The bottom line also increased a massive 576.8% from 82 cents in the year-ago quarter.
TLN generated revenues of $1.13 billion, which surpassed the Zacks Consensus Estimate of $1.02 billion by 11%. The top line also improved 189.5% from the year-ago reported figure of $0.39 billion.
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Clearway Energy Q1 Loss Wider Than Estimates, Revenues Increase Y/Y
Key Takeaways
Clearway Energy Inc. (CWEN - Free Report) reported a first-quarter 2026 loss of $1.35 per share, wider than the Zacks Consensus Estimate of a loss of 45 cents. However, in the year-ago quarter, the company reported earnings of 3 cents.
CWEN’s Revenues
Total revenues of $354 million surpassed the Zacks Consensus Estimate of $331 million by 6.8%. The top line increased 18.8% from the year-ago quarter’s figure of $298 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 $257 million compared with $252 million in the year-ago period.
Total operating costs and expenses for the quarter were $334 million, up 12.1% from the year-ago figure of $298 million. This was primarily driven by higher operating costs, increased depreciation, amortization and accretion expenses, along with a rise in general and administrative costs, and higher transaction and integration expenses.
The company generated operating income of $20 million in the first quarter of 2026.
CWEN incurred interest expenses of $101 million compared with $116 million in the year-ago quarter.
On March 30, 2026, Clearway Energy, through its indirect subsidiaries, acquired Cardinal Portfolio for total cash consideration of $324 million.
Developments After First-Quarter Close
On May 1, 2026, the Honeycomb Portfolio battery energy storage system (BESS) facilities in Utah, comprising four BESS projects with a combined capacity of 320 megawatts, reached substantial completion. The portfolio is backed by 20-year tolling agreements with an investment-grade utility. Clearway Energy’s total capital investment in the projects was $97 million.
CWEN’s Financial Position
Clearway Energy had cash and cash equivalents of $325 million as of March 31, 2026 compared with $231 million as of Dec. 31, 2025.
Total liquidity as of March 31, 2026 was $1.23 billion compared with $1.06 billion recorded as of Dec. 31, 2025.
Long-term debt as of March 31, 2026 amounted to $8.5 billion compared with $7.9 billion as of Dec. 31, 2025.
Net cash provided by operating activities in the first three months of 2026 was $401 million compared with $95 million in the year-ago period.
CWEN’s Guidance
Clearway Energy projects 2026 cash available for distribution (CAFD) to lie between $470 million and $510 million.
The company projects CAFD to lie in the range of $2.90-$3.10 per share for the period, reiterating 2030.
CWEN expects 2026 Adjusted EBITDA to lie in the range of $1.441-$1.481 billion.
Cash from operating activities for 2026 is expected to be in the range of $1.022-$1.062 billion.
CWEN’s Zacks Rank
CWEN currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Ormat Technologies Inc. (ORA - Free Report) reported first-quarter 2026 adjusted earnings per share (EPS) of $1.30, which beat the Zacks Consensus Estimate of 92 cents by 41.3%. The bottom line also increased 91.2% from 68 cents in the year-ago quarter.
ORA generated revenues of $403.9 million, which topped the Zacks Consensus Estimate of $349 million by 15.6%. The top line also increased 75.8% year over year.
Sempra (SRE - Free Report) reported first-quarter 2026 adjusted EPS of $1.51, in line with the Zacks Consensus Estimate. The bottom line increased 4.9% from the year-ago quarter’s figure of $1.44.
Revenues of $3.66 billion missed the Zacks Consensus Estimate of $4.15 billion by 11.8%. The top line decreased 3.9% from $3.8 billion in the year-ago quarter.
Talen Energy Corporation (TLN - Free Report) reported first-quarter 2026 adjusted earnings of $5.55 per share, which beat the Zacks Consensus Estimate of $5.28 by 5%. The bottom line also increased a massive 576.8% from 82 cents in the year-ago quarter.
TLN generated revenues of $1.13 billion, which surpassed the Zacks Consensus Estimate of $1.02 billion by 11%. The top line also improved 189.5% from the year-ago reported figure of $0.39 billion.