Clearway Energy(CWEN) ZACKS·2025-05-01 13:20Core Insights - Clearway Energy Inc. (CWEN) reported first-quarter 2025 earnings of 3 cents per share, exceeding the Zacks Consensus Estimate of a loss of 25 cents by 112% [1] - Total revenues for the quarter were $298 million, which fell short of the Zacks Consensus Estimate of $311 million by 4.1% [1] Financial Performance - Adjusted EBITDA for the quarter was $252 million, an increase from $211 million in the same period last year [2] - Total operating costs and expenses were $298 million, up 2.1% from $292 million year-over-year, attributed to higher depreciation, amortization, and accretion costs [2] - Interest expenses rose to $116 million compared to $57 million in the year-ago quarter [2] - Net cash provided by operating activities totaled $95 million, up from $81 million in the previous year [6] Acquisitions - On April 25, 2025, the company entered a binding agreement to acquire a 100 MW solar project in California for $120 million to $125 million, which has a revenue contract with an investment-grade utility through 2038 [3] - On April 29, 2025, CWEN closed the acquisition of the 137 MW Tuolumne Wind project in Washington, which has a Power Purchase Agreement (PPA) with Turlock Irrigation District until 2040 [4] Financial Position - As of March 31, 2025, CWEN had cash and cash equivalents of $297 million, down from $332 million as of December 31, 2024 [5] - Total liquidity was $1.325 billion, slightly down from $1.33 billion at the end of 2024 [5] - Long-term debt increased to $7.23 billion from $6.75 billion as of December 31, 2024 [5] Guidance - The company expects 2025 adjusted EBITDA to be in the range of $1.195 billion to $1.235 billion [7] - Cash from Operating Activities is projected to be between $844 million and $884 million for the year [7] - CWEN reaffirmed its guidance for 2025 cash available for distribution (CAFD) in the range of $400 million to $440 million [7]