Clearway Energy, Inc. (CWEN) Misses Q3 EPS by 22c; offers guidance

Clearway Energy, Inc. (NYSE: CWEN) reported Q3 EPS of $0.31, $0.22 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $486 million versus the consensus estimate of $410.9 million.

"The Company is reaffirming its 2024 full year CAFD guidance of $395 million. The Company's 2024 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. 2024 CAFD guidance does not factor in the timing of when CAFD is realized from new growth investments pursuant to 5-year averages beyond 2024. Financial guidance is based on median renewable energy production estimates for the full year.
The Company is initiating a 2025 full year CAFD guidance at a $420 million midpoint and a range of $400 million to $440 million. The midpoint of the 2025 financial guidance range is based on median renewable energy production estimates for the full year, while the range reflects a range of potential distributions of outcomes on resource and performance in the fiscal year. The guidance range also factors in completing committed growth investments on currently forecasted schedules."

For earnings history and earnings-related data on Clearway Energy, Inc. (CWEN) click here.

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