Clearway Energy reports FY23 net loss of $14M, reaffirms 2024 CAFD guidance; dividend raised to $0.4033/qtr

Clearway Energy, Inc.

2023-FY EPS reported $0.67 revenue$1,314,000,000

Net loss of $14M for FY23 vs $1,060M income in FY22 (prior year included one-time gain from Thermal sale).
Adjusted EBITDA $1,058M (down 8.8% YoY); CAFD $342M (up 4.9% YoY).
Committed ~$215M in long-term corporate capital investments; acquired 252 MW Texas Solar Nova 1 for $23M.
Reaffirms FY24 CAFD guidance of $395M; targets 5-8% annual dividend growth through 2026.
Quarterly dividend increased 1.7% to $0.4033/share ($1.61 annualized), payable March 15, 2024.

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 the year ended December 31, 2023 results: net income Net Loss of $14 million. Guidance reaffirmed.

Period: the year ended December 31, 2023
Net income: Net Loss of $14 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Clearway Energy, Inc. (NYSE: CWEN, CWEN.A) today reported full year 2023 financial results, including Net Loss of $14 million, Adjusted EBITDA of $1,058 million, Cash from Operating Activities of $702 million, and Cash Available for Distribution (CAFD) of $342 million.

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Clearway Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001567683-24-000005

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