However, this Zacks Rank #3 (Hold) company faces risks related to its dependence on third-party assets for electric interconnection and transmission. Clearway Energy is primarily focused on North America that saves it from foreign currency fluctuation risks. In addition, North America provides an excellent opportunity to expand its operations through the acquisition of renewable and natural gas-fired generation assets. Headwinds Price Performance - CLEARWAY EGY (CWEN) % Growth - Other Alt Energy Market (ZSI ...

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law Firm Brian Schall, Esq. 310-301-3335 [email protected] www.schallfirm.com SOURCE The Schall Law Firm The investigation focuses on determining if the Clearway board breached its fiduciary duties to shareholders. If you ...

Of the 10 recommendations that derive the current ABR, seven are Strong Buy, representing 70% of all recommendations. This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements. Although both Zacks Rank and ABR are displa ...

Justin Paget Clearway Energy Overview Clearway Energy (NYSE:CWEN) is an energy company that focuses on generation and distribution of renewable energy. The company has so far installed about 6,200 MW worth of wind and solar energy generators, as well as battery energy storage. The company owns a total of 8,700 MW of energy assets which include natural gas generation facilities with a total capacity of around 2,500 MW which could also be considered as part of clean energy. One of the things that makes this c ...

Falling interest rates and a strong growth tailwind should give these renewable energy stocks the power to surge. The renewable energy industry has hit a bit of a speed bump in recent years. Surging interest rates made it more expensive to fund projects, which has weighed on the sector. Higher rates have also driven down the value of income-producing assets, like renewable energy dividend stocks, boosting their yields. However, many expect interest rates to start falling in the coming years. That should boo ...

25.07 35.39 $0.16 0.02% $2.18T Rawf8 Anytime there is a major economic trend, there are multiple ways in which to capitalize. One of the most famous examples would be picks and shovels in the gold rush. Although not gold themselves, picks and shovels were a key piece of the supply chain in the pursuit of gold. Similar logic has been applied to the artificial intelligence ("A.I.") boom. In addition to companies that execute the A.I. directly, there has been a surge of investment i many of the products and se ...

PART I — FINANCIAL INFORMATION [Financial Statements and Notes](index=6&type=section&id=ITEM%201%20%E2%80%94%20FINANCIAL%20STATEMENTS%20AND%20NOTES) Clearway Energy reported Q1 2024 operating revenues of $263 million and a net loss of $46 million, with total assets at $14.86 billion, reflecting acquisitions and renewable investments [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) Q1 2024 consolidated financial statements show a net loss of $46 million on $263 million revenue, with total assets at $14.86 billion and $81 million cash from operations Consolidated Statement of Operations Highlights (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Total operating revenues | $263 | $288 | ($25) | | Operating (Loss) Income | ($29) | $42 | ($71) | | Net Loss | ($46) | ($40) | ($6) | | Net Loss Attributable to Clearway Energy, Inc. | ($2) | $0 | ($2) | | Loss Per Share (Basic and Diluted) | ($0.02) | $0.00 | ($0.02) | Consolidated Balance Sheet Highlights (as of Mar 31, 2024 vs Dec 31, 2023) | Metric | March 31, 2024 (in millions) | Dec 31, 2023 (in millions) | | :--- | :--- | :--- | | Cash and cash equivalents | $478 | $535 | | Total current assets | $1,497 | $1,560 | | Total Assets | $14,862 | $14,701 | | Total current liabilities | $874 | $906 | | Long-term debt | $7,579 | $7,479 | | Total Liabilities | $9,815 | $9,706 | | Total Stockholders' Equity | $5,045 | $4,994 | Consolidated Statement of Cash Flows Highlights (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $81 | $75 | | Net Cash Used in Investing Activities | ($203) | ($86) | | Net Cash Provided by Financing Activities | $34 | $28 | | Net Decrease in Cash, Cash Equivalents and Restricted Cash | ($88) | $17 | [Note 3 — Acquisitions](index=16&type=section&id=Note%203%20%E2%80%94%20Acquisitions) In Q1 2024, the company acquired Texas Solar Nova 2 (200 MW solar) for $112 million, and post-quarter, Cedar Creek (160 MW wind) for $117 million - On March 15, 2024, the Company acquired Texas Solar Nova 2, LLC, a **200 MW solar facility** in Texas, for cash consideration of **$112 million**[54](index=54&type=chunk) - On April 16, 2024, subsequent to the quarter's end, the Company acquired Cedar Creek Holdco LLC, a **160 MW wind facility** in Idaho, for cash consideration of **$117 million**[53](index=53&type=chunk) [Note 7 — Long-term Debt](index=24&type=section&id=Note%207%20%E2%80%94%20Long-term%20Debt) As of March 31, 2024, total debt was $8.2 billion, primarily Senior Notes and non-recourse facility-level debt, with no revolving credit facility borrowings Total Debt Composition (as of March 31, 2024) | Debt Category | Amount (in millions) | | :--- | :--- | | Senior Notes (2028, 2031, 2032) | $2,125 | | Non-recourse facility-level debt | $6,076 | | **Total debt** | **$8,201** | - As of March 31, 2024, the company had **no outstanding borrowings** under its revolving credit facility and **$228 million** in letters of credit outstanding[85](index=85&type=chunk) - In connection with the Texas Solar Nova 2 acquisition on March 15, 2024, the company assumed an **$80 million term loan** and a **$115 million tax equity bridge loan**, which was subsequently repaid[87](index=87&type=chunk)[88](index=88&type=chunk) [Note 9 — Segment Reporting](index=26&type=section&id=Note%209%20%E2%80%94%20Segment%20Reporting) In Q1 2024, Conventional Generation reported $21 million operating income, while Renewables had a $39 million operating loss on $168 million revenue Segment Performance (Q1 2024) | Segment | Operating Revenues (in millions) | Operating Income (Loss) (in millions) | | :--- | :--- | :--- | | Conventional Generation | $95 | $21 | | Renewables | $168 | ($39) | | Corporate | $0 | ($11) | | **Total** | **$263** | **($29)** | [Management's Discussion and Analysis (MD&A)](index=28&type=section&id=ITEM%202%20%E2%80%94%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) MD&A attributes the $25 million revenue decrease to lower capacity prices and hedge adjustments, widening net loss, while maintaining $1.44 billion liquidity and pursuing renewable growth - The company's portfolio consists of approximately **8,700 net MW of assets**, including **6,200 net MW of installed wind, solar, and BESS facilities** with a weighted average remaining contract duration of approximately **10 years**[103](index=103&type=chunk) - Key recent events include the acquisition of **Texas Solar Nova 2 (200 MW solar)** and **Cedar Creek (160 MW wind)**, and new Resource Adequacy (RA) agreements for the Walnut Creek and Marsh Landing facilities[107](index=107&type=chunk)[108](index=108&type=chunk) [Consolidated Results of Operations](index=34&type=section&id=Consolidated%20Results%20of%20Operations) Q1 2024 operating revenues decreased by $25 million to $263 million, driven by lower conventional capacity prices and negative hedge impacts, partially offset by new renewable assets - The Conventional segment revenue decreased primarily due to lower capacity prices from PPA expirations at the Walnut Creek, Marsh Landing, and El Segundo facilities, resulting in a **$43 million decline**[115](index=115&type=chunk) - The Renewables segment revenue increased by **$16 million**, driven by new solar and BESS acquisitions including Daggett 2 & 3, Arica, and Texas Solar Nova 1[115](index=115&type=chunk) - Mark-to-market on economic hedges had a significant negative impact, decreasing revenue by **$54 million** due to rising forward power prices in ERCOT and PJM markets[115](index=115&type=chunk) - Depreciation, amortization, and accretion increased by **$26 million**, mainly in the Renewables segment, due to newly operational facilities like Daggett 2 & 3 and the acquisition of Texas Solar Nova 1[117](index=117&type=chunk) [Liquidity and Capital Resources](index=37&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, total liquidity was $1.44 billion, with Q1 capital expenditures of $98 million primarily for renewable growth and continued dividend payments Liquidity Position | Component | March 31, 2024 (in millions) | Dec 31, 2023 (in millions) | | :--- | :--- | :--- | | Total cash, cash equivalents and restricted cash | $963 | $1,051 | | Revolving credit facility availability | $472 | $454 | | **Total liquidity** | **$1,435** | **$1,505** | - Capital expenditures for Q1 2024 were approximately **$98 million**, including **$96 million** for growth in the Renewables segment, primarily for the Victory Pass, Arica, and Daggett facilities[132](index=132&type=chunk) - A quarterly dividend of **$0.4102 per share** was declared on May 9, 2024, an increase from the **$0.4033 per share** paid in the first quarter[142](index=142&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=ITEM%203%20%E2%80%94%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company manages commodity price, interest rate, liquidity, and credit risks using derivatives, with sensitivity analysis showing impacts on interest expense and power derivative values - A **1% (100 basis points) change** in interest rates would result in an approximately **$5 million change** in market interest expense on a rolling twelve-month basis[169](index=169&type=chunk) - A **$0.50 per MWh increase or decrease** in power prices would cause a change of approximately **$6 million** to the net value of the company's long-term power commodity derivative contracts[165](index=165&type=chunk) - The fair value of the company's debt was **$7.63 billion** as of March 31, 2024, compared to a carrying value of **$8.20 billion**[170](index=170&type=chunk) [Controls and Procedures](index=44&type=section&id=ITEM%204%20%E2%80%94%20CONTROLS%20AND%20PROCEDURES) Management concluded disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - The company's principal executive officer and principal financial officer concluded that disclosure controls and procedures were **effective** as of the end of the period covered by the report[173](index=173&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[174](index=174&type=chunk) PART II — OTHER INFORMATION [Other Information Summary](index=45&type=section&id=Other%20Information%20Summary) Part II reports no legal proceedings, unregistered equity sales, or defaults on senior securities, with no material changes to previously disclosed risk factors - The company reports **no legal proceedings** for the period[177](index=177&type=chunk) - There have been **no material changes** in the Company's risk factors since those reported in its 2023 Form 10-K[178](index=178&type=chunk) - The company reports **no unregistered sales of equity securities**, use of proceeds, or defaults upon senior securities[179](index=179&type=chunk)[180](index=180&type=chunk)

Clearway Energy, Inc. [CWEN] Q1 2024 Earnings Conference Call May 9, 2024 8:00 AM ET Company Participants Chris Sotos - President & CEO Sarah Rubenstein - EVP & CFO Craig Cornelius - President & CEO of Clearway Energy Group Akil Marsh - IR Conference Call Participants Michael Lonegan - Evercore ISI Noah Kaye - Oppenheimer Alex Kania - Marathon Capital Operator Good day. And thank you for standing by. Welcome to Clearway Energy, Inc. First Quarter 2024 Earnings Call. At this time, all participants are in a l ...

El Segundo Energy Center Walnut Creek Energy Park Marsh Landing Generating Station − Marsh Landing: New 90 MW contract 2027-2030 − Walnut Creek: New ~100 MW contract for 2027 8 ▪ Sponsor will support development of up to ~500MW of battery assets adjacent to existing CWEN projects, with CWEN investment right to invest at 10% CAFD yield ▪ Sponsor is also advancing 4.4 GW of late-stage projects for potential CWEN investment with COD's over 2026-2029 Late-Stage Development Assets (Excluding Hybridization & Repo ...

Clearway Energy Inc. (CWEN) recorded a first-quarter 2024 loss of 2 cents per share, which surpassed the Zacks Consensus Estimate of a loss of 27 cents. In the year-ago quarter, the company reported break-even earnings.RevenuesTotal revenues of $263 million missed the Zacks Consensus Estimate of $270 million by 2.6%. The top line also declined 8.7% from the year-ago quarter’s figure of $288 million.Highlights of the ReleaseAdjusted EBITDA for the quarter totaled $211 million compared with $218 million in th ...