Clearway Energy Q3 net income rises on growth investments, mark-to-market gains

Overview

• U.S. clean energy asset owner's Q3 revenue rose yr/yr

• Q3 net income increased yr/yr, driven by growth investments and mark-to-market gains

Outlook

• Company reaffirms 2026 full-year CAFD guidance of $430 mln to $470 mln

• Clearway Energy sets 2027 full-year CAFD guidance at $520 mln to $590 mln

• Company targets 2031 CAFD per share of $3.20 to $3.40

Result Drivers

• GROWTH INVESTMENTS - Co said higher net income and adjusted EBITDA were driven by contributions from growth investments

• RENEWABLES OUTPUT - Co said renewables and storage generation rose 12% yr/yr, primarily due to growth investments

• FLEXIBLE GENERATION AVAILABILITY - Co said higher availability in flexible generation segment was due to strong operational execution

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the independent power producers peer group is "buy"

• Wall Street's median 12-month price target for Clearway Energy Inc is $40.00, about 17.3% above its November 6 closing price of $34.10

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)