Clearway Energy(US:CWEN)2026-02-23 21:20Financial Performance - Clearway Energy, Inc. reported a full year 2025 Net Loss of $231 million and Adjusted EBITDA of $1,217 million, with Cash from Operating Activities of $688 million and Cash Available for Distribution (CAFD) of $430 million[2][3]. - For the fourth quarter of 2025, Clearway reported a Net Loss of $199 million and Adjusted EBITDA of $237 million, with Cash from Operating Activities of $177 million and CAFD of $35 million[8]. - Total operating revenues for 2025 reached $1,429 million, an increase of 4.2% from $1,371 million in 2024[33]. - Operating income decreased to $160 million in 2025, down 18.4% from $196 million in 2024[33]. - Net loss attributable to Clearway Energy, Inc. was $169 million in 2025, compared to a net income of $88 million in 2024[33]. - The company reported a comprehensive loss of $234 million in 2025, compared to a comprehensive loss of $67 million in 2024[35]. - For the year ended December 31, 2025, the net loss was $231 million, compared to a net loss of $63 million in 2024 and $14 million in 2023[40]. - Adjusted EBITDA for Q4 2025 was $237 million, compared to $228 million in Q4 2024, reflecting a year-over-year increase of 3.9%[48]. - For the twelve months ended December 31, 2025, Adjusted EBITDA reached $1,217 million, up from $1,146 million in 2024, indicating a growth of 6.2%[48]. - Net income for the twelve months ended December 31, 2025, was a loss of $231 million, compared to a loss of $63 million in 2024[46]. Cash Flow and Liquidity - Net cash provided by operating activities for 2025 was $688 million, a decrease from $770 million in 2024 and an increase from $702 million in 2023[40]. - The company reported net cash used in investing activities of $803 million in 2025, compared to $725 million in 2024 and $523 million in 2023[40]. - Total liquidity as of December 31, 2025, was $1,061 million, which was $269 million lower than the same period in 2024, primarily due to growth investments[11]. - The total cash, cash equivalents, and restricted cash at the end of 2025 was $818 million, an increase from $733 million at the end of 2024[40]. - Total cash, cash equivalents, and restricted cash increased by $85 million in 2025[49]. Debt and Capital Expenditures - The company raised $600 million in corporate debt and $50 million in equity since the last earnings call, reaffirming its 2026 financial guidance range of $470 million to $510 million for CAFD[4][25]. - Long-term debt rose to $7,898 million in 2025, an increase of 17% from $6,750 million in 2024[38]. - The company incurred $1,461 million in payments for long-term debt during 2025[49]. - The company made capital expenditures of $319 million in 2025[49]. Assets and Liabilities - Total assets increased to $16,655 million in 2025, up from $14,329 million in 2024, representing a growth of 16.3%[38]. - Total liabilities increased to $10,741 million in 2025, compared to $8,765 million in 2024, marking a rise of 22.5%[38]. - Cash and cash equivalents decreased to $231 million in 2025, down from $332 million in 2024[38]. Operational Highlights - Clearway's late-stage pipeline now includes 11.2 GW in opportunities, with 2 GW of contracts signed to provide power solutions for data centers[4]. - The company signed three long-term power purchase agreements (PPAs) with Google for approximately 1.1 GW of projects located in Missouri, Texas, and West Virginia[16]. - Clearway is targeting commercial operations for the 650 MW Swan Solar project in 2028, with a potential corporate capital commitment of approximately $215 million[17]. - The company entered into an agreement to acquire interests in the 199 MW Spindle and 92 MW Rosamond South II battery energy storage facilities for approximately $90 million[19]. - Clearway's quarterly operating results are impacted by seasonal factors, with most revenues generated from May through September due to higher contracted pricing and renewable resources[23]. Shareholder Returns - Earnings per share attributable to Class A and Class C common stock increased to $1.43 in 2025, up from $0.75 in 2024[33]. - Dividends per Class A and Class C common share were $1.77 in 2025, compared to $1.65 in 2024, reflecting a 7.3% increase[33].