Financial Data and Key Metrics Changes - The company reported first quarter adjusted EBITDA of $252 million and CAFD of $77 million, reflecting strong wind resource in California and contributions from 2024 growth investments [22][23] - Capacity factors for the renewable and storage segment improved by 4.7% to 25.7% for solar and by 2.9% to 33.9% for wind [22] - Flexible generation availability improved by 3% to 89.3%, continuing the trend of strong availability and grid reliability in California [22] Business Line Data and Key Metrics Changes - The company continued to advance repowering opportunities, with significant projects like Mount Storm and Goat Mountain on track for completion in 2026 and 2027 [9][14] - The acquisition of Tuolumne Wind and a solar project in California are expected to contribute positively to the company's growth and CAFD yield [11][19] - The company is on pace to complete safe harbor investments for approximately 13 gigawatts of projects that could achieve COD through 2029 [10] Market Data and Key Metrics Changes - The company noted a supportive market for energy value from its gas plants in California, with expected appreciation in energy gross margin creation potential [88] - The late-stage pipeline grew over a gigawatt sequentially, indicating strong project development despite market uncertainties [83] Company Strategy and Development Direction - The company aims to achieve the top half of its 2025 guidance range and is focused on long-term growth through fleet enhancements, dropdown investments, and asset-centered M&A [7][8] - The capital allocation framework emphasizes funding high-return investments and maintaining a disciplined approach to equity issuance [25][70] - The company is committed to increasing self-funding growth and targeting a long-term payout ratio trending towards 70% [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the high end of the 2027 CAFD per share growth targets due to strong execution across growth pathways [12][20] - The company is actively evaluating third-party M&A opportunities and pursuing additional fleet optimization improvements [21][60] - Management highlighted the importance of collaboration with customers and suppliers to adapt to changes in policy and ensure project viability [66] Other Important Information - The company has implemented a hedging strategy to mitigate interest rate risk for refinancing corporate bonds maturing in 2028 [26] - The company is focused on maintaining a strong balance sheet and liquidity while pursuing growth investments [26] Q&A Session Summary Question: Thoughts on battery storage as part of the pipeline going forward - Management expressed strong confidence in battery technology and its reliability, indicating plans to continue executing battery projects without slowing down [34][35] Question: Potential for sourcing batteries outside of China - Management acknowledged the increased capital expense due to tariffs but emphasized the ability to manage costs through various strategies, including sourcing from domestic suppliers [48][50] Question: Expectations for CAFD yields on repowering opportunities - Management indicated that they aim for CAFD yields of at least 10% for repowering investments, assessing the additional cash flow generated from such projects [56] Question: Current state of the M&A market - Management noted a balanced market between buyers and sellers, emphasizing the unique synergistic benefits Clearway can bring to acquisitions [58][59] Question: Risks associated with permitting for repowering projects - Management expressed confidence in the current permitting environment and the ability to manage risks associated with repowering projects [88]

Financial Performance & Guidance - First quarter CAFD reached $77 million, demonstrating strong operational performance across segments[7, 27] - Clearway Energy reaffirmed its 2025 CAFD guidance range of $400-440 million[7, 27] - The company announced a dividend increase of 1.7% to $0.4384 per share in 2Q25, resulting in an annualized rate of $1.7536 per share[7] - The company reaffirms CAFD per share target of $2.40-2.60 in 2027 with no external equity needed to achieve midpoint, and now has strong visibility to achieve the top end of the target[7] Growth Initiatives - Mt Storm repowering is on track, with construction slated to begin in 2025 and a Microsoft PPA signed[7] - Goat Mountain repowering is targeted for 2027, with PPA in final negotiations, and San Juan Mesa repowering is advancing with a PPA extension as a bridge[7] - Committed drop-downs are progressing as planned, with initial fundings completed for Rosamond South I, Dan's Mountain, and LV+Daggett 1[7] - Clearway Energy closed a 3rd party acquisition of Tuolumne Wind and signed a 3rd party M&A agreement for a solar project, involving approximately $120-125 million of corporate capital[7] Sponsor-Enabled Growth & Pipeline - The sponsor is advancing approximately 9.9 GW of late-stage projects, which are expected to support Clearway Energy's growth plan[7, 48] - Existing and pending safe harbor investments are on pace to qualify approximately 13 GW through 2029 CODs, maximizing site optionality[7, 19]

Financial Performance - Clearway Energy, Inc. reported a Net Loss of $104 million for Q1 2025, compared to a Net Loss of $46 million in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $252 million, an increase from $211 million in Q1 2024, driven by growth investments[5] - Total operating revenues increased to $298 million in Q1 2025, up from $263 million in Q1 2024, representing a growth of 13.3%[29] - Net loss attributable to Clearway Energy, Inc. was $4 million in Q1 2025, compared to a net loss of $2 million in Q1 2024[29] - The company reported a comprehensive loss of $109 million in Q1 2025, compared to a comprehensive loss of $47 million in Q1 2024[31] - Net income for the three months ended March 31, 2025, was a loss of $104 million, compared to a loss of $46 million for the same period in 2024[39] Cash Flow and Liquidity - Cash from Operating Activities increased to $95 million in Q1 2025, up from $81 million in Q1 2024[7] - Cash Available for Distribution (CAFD) rose to $77 million in Q1 2025, compared to $52 million in Q1 2024[8] - Total liquidity as of March 31, 2025, was $1,325 million, slightly down from $1,330 million at the end of 2024[10] - Net cash provided by operating activities was $95 million in Q1 2025, compared to $81 million in Q1 2024, indicating a 17.3% increase[36] - The net cash change for Q1 2025 was a decrease of $22 million, primarily due to dividend payments and long-term debt repayments[43] Dividends and Shareholder Returns - Clearway Energy, Inc. announced a 1.7% increase in quarterly dividend to $0.4384 per share, payable in Q2 2025[6] - Dividends per Class A and Class C common share increased to $0.4312 in Q1 2025, up from $0.4033 in Q1 2024, a rise of 6.5%[29] Acquisitions and Investments - The company closed the acquisition of Tuolumne Wind, a 137 MW project, for a corporate capital commitment of $61 million[14] - Clearway Energy, Inc. entered into a binding agreement to acquire a 100 MW operating solar project in California for $120 million to $125 million[13] - The company reported capital expenditures of $56 million for Q1 2025[43] Operational Metrics - The company reported a 13% increase in Renewables & Storage generation, with 4,481 MWh sold in Q1 2025 compared to 3,962 MWh in Q1 2024[9] - Total assets grew to $14,647 million as of March 31, 2025, compared to $14,329 million at the end of 2024, reflecting an increase of 2.2%[34] - Total liabilities increased to $9,227 million as of March 31, 2025, up from $8,765 million at the end of 2024, an increase of 5.3%[34] - Long-term debt increased to $7,231 million as of March 31, 2025, compared to $6,750 million at the end of 2024, reflecting a rise of 7.1%[34] Performance Metrics and Guidance - The company expects full-year 2025 Adjusted EBITDA guidance in the range of $1,195 million to $1,235 million[44] - For 2025, the company projects cash available for distribution between $400 million and $440 million[44] - Contributions from noncontrolling interests for Q1 2025 amounted to $44 million, compared to $215 million in Q1 2024[43] Interest and Financing Costs - Interest expense for Q1 2025 was $109 million, compared to $40 million in Q1 2024, reflecting an increase in financing costs[39] EBITDA and CAFD Definitions - EBITDA is a key performance measure for Clearway Energy, representing net income before interest, taxes, depreciation, and amortization, but has limitations as an analytical tool[48] - Adjusted EBITDA is used to provide a clearer picture of operating performance, adjusted for non-cash expenses and other items not indicative of future performance[50] - Cash Available for Distribution (CAFD) is defined as Adjusted EBITDA plus various cash receipts and distributions, minus certain cash outflows, and is considered a relevant measure for cash returns to investors[55] - Management believes CAFD is useful for evaluating the company's ability to make quarterly distributions and for planning future acquisitions[56] - Limitations of CAFD include exclusion of changes in operating assets and liabilities, which could materially affect financial condition[57] - Clearway Energy emphasizes that EBITDA and CAFD should not be viewed as alternatives to GAAP measures of performance[49] - Adjusted EBITDA is widely used by investors to compare operating performance across companies and periods, excluding items like interest and taxes[51] - The company acknowledges that other companies may calculate EBITDA differently, which limits its comparability[54] - Management uses Adjusted EBITDA for planning, forecasting, and evaluating actual results against expectations[53] - Clearway Energy compensates for the limitations of EBITDA by primarily relying on GAAP results[49]

Financial Results - Clearway Energy, Inc. reported a net loss of $104 million for Q1 2025, compared to a net loss of $46 million in Q1 2024 [4][6][29] - Adjusted EBITDA for the first quarter of 2025 was $252 million, an increase from $211 million in the same period last year [5][8] - Cash from operating activities was $95 million, up from $81 million in Q1 2024, while Cash Available for Distribution (CAFD) rose to $77 million from $52 million [6][8] Operational Performance - The company achieved strong operational performance with availability and capacity factors improving year-over-year across all segments [7] - Generation in the Renewables & Storage segment increased by 13% year-over-year, primarily due to growth investments [9] Growth Initiatives - Clearway Energy is advancing its long-term financial objectives through fleet enhancements, sponsor-offered dropdowns, and asset-centered M&A [2] - The company announced the acquisition of a 100 MW operational solar project in California, with a capital commitment of $120 million to $125 million [13] - The acquisition of Tuolumne Wind, a 137 MW project, was completed with a capital commitment of $61 million, expected to contribute approximately $9 million in asset CAFD annually starting in 2026 [14] Financial Guidance - The company reaffirmed its 2025 full-year CAFD guidance range of $400 million to $440 million, based on median renewable energy production estimates and other operational factors [21][22] Dividend Declaration - Clearway Energy's Board of Directors declared a quarterly dividend of $0.4384 per share, payable on June 16, 2025 [18]

Core Insights - Clearway Energy Group has signed a long-term power purchase agreement with Microsoft for the 335 MW Mount Storm wind farm in West Virginia, aimed at supporting Microsoft's sustainability and decarbonization goals by generating carbon-free energy [1][2] Company Overview - Clearway Energy Group's vision is to create a world powered by clean energy, with a portfolio of approximately 11.8 GW of gross generating capacity across 26 states, including 9.1 GW from wind, solar, and battery energy storage assets [3][4] - The company is one of the largest owners of clean energy generation assets in the U.S., focusing on providing stable and growing dividend income through its diversified and primarily contracted clean energy portfolio [4] Project Impact - The Mount Storm project will utilize American-made equipment and is expected to deliver significant investment to the local community, including millions of dollars in tax revenue, hundreds of construction jobs, and funding for community benefit programs [3]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Clearway Energy (CWEN), and highlights the potential misalignment of interests between brokerage analysts and retail investors [1][5][10]. Brokerage Recommendations - Clearway Energy has an average brokerage recommendation (ABR) of 1.15, indicating a consensus between Strong Buy and Buy, based on recommendations from 13 brokerage firms [2]. - Out of the 13 recommendations, 12 are classified as Strong Buy, which accounts for 92.3% of all recommendations [2]. Limitations of Brokerage Recommendations - Solely relying on the ABR for investment decisions may not be advisable, as studies suggest that brokerage recommendations often fail to guide investors effectively towards stocks with high price appreciation potential [5]. - Analysts from brokerage firms tend to exhibit a strong positive bias in their ratings, issuing five "Strong Buy" recommendations for every "Strong Sell" [6][10]. Zacks Rank Comparison - The Zacks Rank, a proprietary stock rating tool, categorizes stocks from Zacks Rank 1 (Strong Buy) to Zacks Rank 5 (Strong Sell) and is based on earnings estimate revisions, making it a more effective indicator of near-term stock performance [8][11]. - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in earnings estimates, which are crucial for predicting future stock prices [12]. Current Earnings Estimates for Clearway Energy - The Zacks Consensus Estimate for Clearway Energy remains unchanged at $0.75 for the current year, indicating steady analyst views on the company's earnings prospects [13]. - Due to the lack of change in the consensus estimate and other factors, Clearway Energy holds a Zacks Rank 3 (Hold), suggesting caution despite the Buy-equivalent ABR [14].

Company Overview - Clearway Energy, Inc. (CWEN) is currently an intriguing investment choice due to solid earnings estimate revision activity and a favorable Zacks Industry Rank [1][3]. - The company has seen a positive shift in earnings estimates, with current quarter estimates improving from a loss of $0.38 per share to a loss of $0.30 per share, and current year estimates rising from $0.70 per share to $0.75 per share [4]. Industry Context - The Oils-Energy sector, where Clearway Energy operates, has a Zacks Industry Rank of 69 out of 247 industries, indicating a strong position relative to other segments [2]. - The overall positive trends in the industry suggest that a rising tide could benefit multiple companies within this sector [2]. Investment Potential - Clearway Energy is positioned well within a strong industry, making it a compelling option for investors seeking opportunities in the alternative energy space [5]. - The company's Zacks Rank of 3 (Hold) signals a favorable outlook, further supporting its potential as an investment choice [4].

Core Points - Clearway Energy, Inc. plans to report its First Quarter 2025 financial results on April 30, 2025, with a conference call and webcast scheduled for 5:00 p.m. Eastern [1] - The conference call will be accessible via the company's website, and an archived version will be available for those unable to attend live [2] - Clearway Energy is a major player in the clean energy sector, owning approximately 11.8 GW of gross capacity across 26 states, including 9 GW from wind, solar, and battery energy storage systems [3] Company Overview - Clearway Energy, Inc. is one of the largest owners of clean energy generation assets in the U.S., focusing on the transition to clean energy [3] - The company's portfolio includes approximately 2.8 GW of flexible dispatchable power generation, which provides essential grid reliability services [3] - Clearway Energy aims to deliver stable and growing dividend income to its investors through its diversified and primarily contracted clean energy portfolio [3]

Group 1 - Clearway Energy, Inc. (CWEN) has reached an important support level and recently experienced a "golden cross," indicating a potential bullish breakout [1][2] - A golden cross occurs when a stock's short-term moving average (50-day) crosses above its long-term moving average (200-day), suggesting stronger breakouts [2] - The golden cross pattern consists of three stages: a downtrend followed by a crossover and then an upward price movement [3] Group 2 - CWEN shares have increased by 11.2% over the past four weeks, and the company holds a 3 (Hold) rating on the Zacks Rank, indicating potential for further gains [4] - The positive earnings outlook for CWEN is supported by two upward revisions in earnings estimates over the past 60 days, with the Zacks Consensus Estimate also increasing [4][6] - Given the positive technical indicators and earnings revisions, CWEN may present a favorable investment opportunity for future gains [6]

Core Viewpoint - Clearway Energy has seen an 11.2% increase in share price over the past month, outperforming the S&P 500, raising questions about the sustainability of this trend leading up to the next earnings release [1] Group 1: Earnings Estimates - Estimates for Clearway Energy have trended upward over the past month, with a consensus estimate shift of 15.08% [2] Group 2: VGM Scores - Clearway Energy has a poor Growth Score of F, a strong Momentum Score of A, and a Value Score of B, placing it in the top 40% for the value investment strategy, resulting in an aggregate VGM Score of C [3] Group 3: Outlook - The upward trend in estimates is promising, and Clearway Energy holds a Zacks Rank of 3 (Hold), indicating an expectation of in-line returns in the coming months [4] Group 4: Industry Performance - Clearway Energy is part of the Zacks Alternative Energy - Other industry, where TC Energy has gained 10.3% over the past month, reporting revenues of $2.56 billion with a year-over-year decline of 17.8% [5] - TC Energy is expected to post earnings of $0.73 per share for the current quarter, reflecting a year-over-year change of -20.7%, with a Zacks Consensus Estimate change of +4.5% over the last 30 days, also holding a Zacks Rank of 3 (Hold) and a VGM Score of C [6]