Clearway Energy Q2 Earnings Miss Estimates, Revenues Rise Y/Y

Core Insights - Clearway Energy Inc. (CWEN) reported second-quarter 2025 earnings of 28 cents per share, missing the Zacks Consensus Estimate of 67 cents by 58.2% and declining from 43 cents per share in the same quarter last year [1][8] - Total revenues reached $392 million, falling short of the Zacks Consensus Estimate of $427 million by 8.2%, but representing a 7.1% increase from $366 million in the prior year [2][8] Financial Performance - Adjusted EBITDA for the quarter was $343 million, down from $353 million in the year-ago period [3] - Total operating costs and expenses increased to $307 million, an 8.9% rise from $282 million a year earlier, driven by higher operational costs and depreciation [3] - Interest expenses decreased to $83 million from $88 million in the previous year [3] Strategic Developments - On July 18, 2025, Clearway Group proposed partnership opportunities for cash equity interests in a portfolio of 291 megawatt (MW) storage projects in California and Colorado, expected to commence operations in 2026 [4] - The company acquired Catalina Solar Lessee Holdco LLC for approximately $127 million, which operates a 109 MW solar facility in Kern County, CA [4] Financial Position - As of June 30, 2025, cash and cash equivalents were $260 million, down from $332 million as of December 31, 2024 [5] - Total liquidity decreased to $1.298 billion from $1.330 billion at the end of 2024 [5] - Long-term debt rose to $8.25 billion from $6.75 billion as of December 31, 2024 [5] Cash Flow and Guidance - Net cash provided by operating activities in the first half of 2025 was $286 million, compared to $277 million in the same period last year [6] - The company updated its 2025 adjusted EBITDA guidance to a range of $1.2-$1.235 billion, up from the previous range of $1.195-$1.235 billion [7] - Cash from operating activities guidance was raised to $860-$900 million from $844-$884 million [7] - The new guidance for cash available for distribution (CAFD) is between $405 million and $440 million, slightly up from the previous range of $400-$440 million [9]