Clearway Q1 net loss $40M; raises dividend 2%, upsizes revolver to $700M

Clearway Energy, Inc.

Q1 2023 net loss of $40M vs $97M loss in Q1 2022; Adjusted EBITDA $218M, down from $260M.
Cash from operations $75M; CAFD -$4M; reaffirms full-year 2023 CAFD guidance of $410M.
Cedro Hill repowering: $63M investment, 160MW, PPA extended to 2045.
Revolving credit facility refinanced: capacity increased to $700M, undrawn, maturity extended to March 2028.
Quarterly dividend increased 2% to $0.3818/share ($1.5272 annualized); targets 5-8% annual growth through 2026.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Clearway Energy, Inc. reported first quarter 2023 results: net income $(40) million. Guidance reaffirmed.

Period: first quarter 2023
Net income: $(40) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Clearway Energy, Inc. Reports First Quarter 2023 Financial Results • Repowering Cedro Hill with PPA extension to 2045 and increasing project size to 160MW • Increased size of revolving credit facility to $700 million • Reaffirming 2023 financial guidance and pro forma CAFD outlook • Increasing the quarterly dividend by 2% to $0.3818 per share in the second quarter of 20 23, or $1.5272 per share annualized • Continue to target annual dividend per share growth in the upper range of 5% to 8% through 2026 PRINCETON, NJ — May 4, 2023 — Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) today reported first quarter 2023 financial results, including Net Loss of $(40) million, Adjusted EBITDA of $218 million, Cash from Operating Activities of $75 million, and Cash Available for Distribution (CAFD) of $(4) million.

View on SEC.gov

9 earnings releases filed in the last 30 days. Browse all earnings releases →

Clearway Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001567683-23-000016

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.