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Clearway Energy (CWEN) investor relations material
Clearway Energy Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Narrowed 2025 CAFD guidance to $420M–$440M after strong Q3 performance, with all dropdowns funded and outperforming expectations.
Set 2030 CAFD per share target at $2.90–$3.10, representing a 7%–8% CAGR from 2025 guidance midpoint.
Growth outlook driven by digital infrastructure, data center demand, and reindustrialization, supported by a robust pipeline and successful M&A.
Long-term payout ratio targeted below 70% to fund growth with retained cash flow, prudent debt, and modest equity.
Reported Q3 2025 net income of $60M, adjusted EBITDA of $385M, and CAFD of $166M, all up year-over-year due to lower tax expenses and growth investments.
Financial highlights
Q3 2025 Adjusted EBITDA: $385M; CAFD: $166M; net income: $60M; EPS: $2.00 (Class A/C).
Year-to-date Adjusted EBITDA: $980M; CAFD: $395M.
2025 CAFD guidance narrowed to $420M–$440M; 2026 CAFD guidance set at $470M–$510M.
Q3 2025 operating revenues: $429M; cash and cash equivalents at September 30, 2025: $251M; total liquidity: $834M.
Q3 2025 gross margin: $301M on $429M revenue (70.2%).
Outlook and guidance
2027 CAFD per share target range: $2.50–$2.70, with a path to the top end or better; 2030 target: $2.90–$3.10.
Long-term annual CAFD per share growth objective of 5%–8%+.
Funding strategy includes retained cash flow, corporate debt (targeting 4x–4.5x debt/EBITDA), and moderate equity issuance.
Management expects to continue paying comparable cash dividends in the foreseeable future.
Announced a quarterly dividend of $0.4528 per share for Q4 2025, payable December 15, 2025.
Funding strategy for 2026/2027 growth opportunities?
Flexible Gen's role in 2030 target achievement?
Deriva portfolio: JV structure and re-contracting?
Flexible generation for data centers: strategy
Future M&A: funding and accretion standards
Payout ratio reduction: impact on equity needs?
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Next Clearway Energy earnings date
Q4 202525 Feb, 2026
Next Clearway Energy earnings date
Q4 202525 Feb, 2026
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Clearway Energy Inc owns and operates a diversified portfolio of contracted renewable and conventional power generation assets. The company’s holdings include wind, solar, and natural gas facilities across the United States, with long-term power purchase agreements supporting stable cash flows. The company is headquartered in Princeton, New Jersey, and its shares are listed on the NYSE.
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