We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Clearway Energy Q4 Earnings Lag Estimates, Revenues Rise Y/Y
Read MoreHide Full Article
Clearway Energy Inc. (CWEN - Free Report) recorded fourth-quarter 2024 earnings of 3 cents per share, which missed the Zacks Consensus Estimate of 13 cents by 76.9%. In the year-ago quarter, the company reported earnings of 32 cents per share.
Total revenues of $256 million missed the Zacks Consensus Estimate of $308 million by 16.9%. In the year-ago quarter, the company reported revenues of $249 million.
Full-year 2024 revenues totaled $1.37 billion compared with $1.31 billion last year.
Clearway Energy, Inc. Price, Consensus and EPS Surprise
Adjusted EBITDA for the quarter totaled $228 million compared with $201 million in the year-ago period.
The company signed agreements with Clearway Group to commit to invest in 320-megawatt (MW) storage hybridization portfolio and 335 MW wind repowering. It also signed a binding third-party M&A agreement to acquire a 137 MW wind project.
Total operating costs and expenses for 2024 were $1.18 billion, up 12.3% from the year-ago figure of $1.05 billion. This was due to higher operational costs, as well as higher depreciation, amortization and accretion costs.
The operating income for the year totaled $196 million compared with last year’s $263 million.
CWEN incurred interest expenses of $307 million compared with $337 million in the year-ago quarter.
CWEN’s Financial Position
Clearway Energy had cash and cash equivalents of $332 million as of Dec. 31, 2024, compared with $535 million as of Dec. 31, 2023.
Total liquidity as of Dec. 31, 2024, was $1.33 billion compared with $1.51 billion recorded as of Dec. 31, 2023.
Long-term debt as of Dec. 31, 2024, amounted to $6.75 billion compared with $7.48 billion as of Dec. 31, 2023.
Net cash provided by operating activities in 2024 totaled $770 million compared with $702 million last year.
CWEN’s Guidance
The company expects 2025 adjusted EBITDA to be in the range of $1.195-$1.235 billion.
Cash from Operating Activities is expected to be in the range of $844-$884 million for the year.
Clearway Energy reaffirmed its guidance for 2025 cash available for distribution (CAFD) in the range of $400-$440 million.
Constellation Energy Corporation (CEG - Free Report) reported fourth-quarter 2024 earnings of $2.44 per share, which surpassed the Zacks Consensus Estimate of $2.19 by 11.4%.
CEG’s long-term (three to five years) earnings growth rate is 12.43%. The Zacks Consensus Estimate for 2025 EPS is pinned at $9.31, indicating a year-over-year increase of 7.4%.
Energy Transfer (ET - Free Report) reported fourth-quarter 2024 adjusted earnings of 29 cents per unit, which missed the Zacks Consensus Estimate of 36 cents by 19.4%.
ET’s long-term earnings growth rate is 21.4%. The Zacks Consensus Estimate for 2025 sales is pinned at $96.89 billion, implying a year-over-year increase of 17.2%.
Murphy Oil Corporation (MUR - Free Report) delivered fourth-quarter 2024 adjusted net earnings of 35 cents per share, which lagged the Zacks Consensus Estimate of 56 cents by 37.5%.
The Zacks Consensus Estimate for 2025 sales is pinned at $2.97 billion while that for earnings is pegged at $2.94 per share.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Clearway Energy Q4 Earnings Lag Estimates, Revenues Rise Y/Y
Clearway Energy Inc. (CWEN - Free Report) recorded fourth-quarter 2024 earnings of 3 cents per share, which missed the Zacks Consensus Estimate of 13 cents by 76.9%. In the year-ago quarter, the company reported earnings of 32 cents per share.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
CWEN’s Revenues
Total revenues of $256 million missed the Zacks Consensus Estimate of $308 million by 16.9%. In the year-ago quarter, the company reported revenues of $249 million.
Full-year 2024 revenues totaled $1.37 billion compared with $1.31 billion last year.
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 for the quarter totaled $228 million compared with $201 million in the year-ago period.
The company signed agreements with Clearway Group to commit to invest in 320-megawatt (MW) storage hybridization portfolio and 335 MW wind repowering. It also signed a binding third-party M&A agreement to acquire a 137 MW wind project.
Total operating costs and expenses for 2024 were $1.18 billion, up 12.3% from the year-ago figure of $1.05 billion. This was due to higher operational costs, as well as higher depreciation, amortization and accretion costs.
The operating income for the year totaled $196 million compared with last year’s $263 million.
CWEN incurred interest expenses of $307 million compared with $337 million in the year-ago quarter.
CWEN’s Financial Position
Clearway Energy had cash and cash equivalents of $332 million as of Dec. 31, 2024, compared with $535 million as of Dec. 31, 2023.
Total liquidity as of Dec. 31, 2024, was $1.33 billion compared with $1.51 billion recorded as of Dec. 31, 2023.
Long-term debt as of Dec. 31, 2024, amounted to $6.75 billion compared with $7.48 billion as of Dec. 31, 2023.
Net cash provided by operating activities in 2024 totaled $770 million compared with $702 million last year.
CWEN’s Guidance
The company expects 2025 adjusted EBITDA to be in the range of $1.195-$1.235 billion.
Cash from Operating Activities is expected to be in the range of $844-$884 million for the year.
Clearway Energy reaffirmed its guidance for 2025 cash available for distribution (CAFD) in the range of $400-$440 million.
CWEN’s Zacks Rank
CWEN currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Constellation Energy Corporation (CEG - Free Report) reported fourth-quarter 2024 earnings of $2.44 per share, which surpassed the Zacks Consensus Estimate of $2.19 by 11.4%.
CEG’s long-term (three to five years) earnings growth rate is 12.43%. The Zacks Consensus Estimate for 2025 EPS is pinned at $9.31, indicating a year-over-year increase of 7.4%.
Energy Transfer (ET - Free Report) reported fourth-quarter 2024 adjusted earnings of 29 cents per unit, which missed the Zacks Consensus Estimate of 36 cents by 19.4%.
ET’s long-term earnings growth rate is 21.4%. The Zacks Consensus Estimate for 2025 sales is pinned at $96.89 billion, implying a year-over-year increase of 17.2%.
Murphy Oil Corporation (MUR - Free Report) delivered fourth-quarter 2024 adjusted net earnings of 35 cents per share, which lagged the Zacks Consensus Estimate of 56 cents by 37.5%.
The Zacks Consensus Estimate for 2025 sales is pinned at $2.97 billion while that for earnings is pegged at $2.94 per share.