Clearway Energy Q2 wind production 25% below estimates; revenue cut $25-30M

Clearway Energy, Inc.

Wind production ~25% below internal median; Alta Wind Complex ~20% below expectations; lowest quarterly reading in history.
Estimated Q2 2023 revenue decrease of $25-30 million due to abnormally low wind resource.
Reaffirms 5-8% annual dividend growth target through 2026 with 80-85% payout ratio; no external equity needed.
Full Q2 2023 results and 2023 guidance to be reported on August 8, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Clearway Energy, Inc. reported second quarter of 2023 results: revenue estimated decrease to second quarter 2023 revenue of between $25 and $30 million. Guidance reaffirmed.

Period: second quarter of 2023
Revenue: estimated decrease to second quarter 2023 revenue of between $25 and $30 million
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Clearway Energy, Inc. issued a press release providing an update to its wind production for the second quarter of 2023 and the impact on its revenue for such quarter.

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Source: SEC EDGAR

accession 0001104659-23-080539

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