CWEN's Q2 Earnings & Revenues Outpace Estimates, 2026 Outlook Trimmed
Clearway Energy Inc.CWEN reported second-quarter 2026 earnings of $1 per share, which surpassed the Zacks Consensus Estimate of 24 cents by 316.7%. The bottom line also increased substantially from 28 cents reported in the year-ago quarter.
CWEN’s Revenues
Operating revenues totaled $481 million, which beat the consensus estimate of $475 million by 1.3%. The top line increased 22.7% from $392 million recorded in the prior-year quarter.
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 rose 19.2% to $409 million from $343 million.
Total operating costs and expenses increased 18.9% to $365 million from $307 million in the prior-year quarter.
The cost of operations jumped to $149 million from $131 million. Depreciation, amortization and accretion expenses increased to $196 million from $163 million, while general and administrative expenses advanced to $15 million from $11 million.
Interest expense increased 26.5% year over year to $105 million.
Operating income rose 36.5% year over year to $116 million.
CWEN’s Segment Results
Flexible Generation generated net income of $22 million compared to a net loss of $11 million in the prior-year quarter. However, adjusted EBITDA declined to $49 million from $52 million.
Renewables & Storage reported net income of $55 million compared with $63 million a year earlier. Adjusted EBITDA increased 24% to $372 million from $300 million.
Corporate recorded a net loss of $47 million compared with a loss of $40 million. Its adjusted EBITDA loss widened to $12 million from $9 million.
Clearway Energy’s Renewable Generation Rises
Renewables & Storage generation increased 15.5% year over year to 6.87 million megawatt-hours.
Solar generation rose 28% to 3.59 million megawatt-hours, while wind generation improved 4.4% to 3.28 million megawatt-hours.
CWEN Advances Growth Investments
Clearway Energy’s sponsor offered the company the opportunity to invest in Honeycomb Phase II, a 210-megawatt (MW) energy-storage portfolio in Utah expected to begin commercial operations in 2027. The potential corporate capital commitment is estimated at approximately $110 million.
The company also highlighted the 975 MW Chimney Canyon solar and battery-storage project in Arizona. Clearway Energy estimates that its potential investment could total roughly $350 million, subject to a future dropdown offer and approval.
The company completed power purchase agreement restructurings for the Elbow Creek and Langford wind facilities.
CWEN’s Financial Position
Clearway Energy had cash and cash equivalents of $251 million as of June 30, 2026 compared with $231 million as of Dec. 31, 2025.
Total liquidity as of June 30, 2026 was $0.99 billion compared with $1.06 billion recorded as of Dec. 31, 2025.
Long-term debt as of June 30, 2026 amounted to $8.49 billion compared with $7.9 billion as of Dec. 31, 2025.
Net cash provided by operating activities in the first six months of 2026 was $615 million compared with $286 million in the year-ago period.
Clearway Energy Lowers Its 2026 Guidance
Clearway Energy reduced its full-year 2026 cash available for distribution (CAFD) guidance to $430-$470 million from the prior range of $470-$510 million.
Adjusted EBITDA is now expected between $1.39 billion and $1.43 billion, down from the previous range of $1.44-$1.48 billion. Cash from operating activities is projected between $956 million and $996 million.
The company projects CAFD to lie in the range of $2.90-$3.10 per share for the period, reiterating 2030.
CWEN’s Zacks Rank
CWEN currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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