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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$522 mln

Q3 EPS

$0.42

Q3 Net Income

$123 mln

Q3 Adjusted EBITDA

$435 mln

Q3 Cash from Operating Activities

$324 mln


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


Reuters Recommended Reads

  • Nov 9 - NRG Energy announces $4 bln asset sale; Q3 adj EPS beats on higher capacity prices, favorable weather

  • Nov 9 - Constellation Energy Q3 adjusted EPS beats estimates on Calpine acquisition impact

  • Nov 9 - SpaceX plans $24 billion gas power plant, data center project in Texas


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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