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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Clearway Energy
Clearway Energy (CWEN) investor relations material
Clearway Energy Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Reaffirmed 2026 CAFD guidance of $430–470M, initiated 2027 guidance of $520–590M and set a 2031 target of $3.20–$3.40 CAFD/share, implying 7–8%+ CAGR from 2025.
Sponsor-enabled investment opportunities through 2029 exceeded $2.3B across 6+ GW; the broader sponsor-developed pipeline reached ~16 GW.
Q3 2026 Adjusted EBITDA was $435M and CAFD was $173M; revenue increased to $522M from $429M YoY.
Financial highlights
Q3 Adjusted EBITDA was $435M and CAFD was $173M; YTD Adjusted EBITDA was $1.101B and CAFD was $410M.
Q3 revenue was $522M vs. $429M YoY and operating income was $135M vs. $112M; 9M revenue was $1.357B vs. $1.119B.
9M operating cash flow was $939M vs. $511M; investing cash use was $896M and financing cash use was $115M.
Q3 net income was $123M vs. $60M YoY, primarily reflecting growth investments and interest-rate swap mark-to-market.
Outlook and guidance
2026 CAFD guidance remains $430–470M, reflecting updated renewable production expectations and potential variation in resource, performance, pricing and project timing.
2027 CAFD guidance is $520–590M, with a $555M midpoint based on median renewable production at P50; the DPS target is ~$1.98.
The 2031 target is $3.20–$3.40 CAFD/share, representing 7–8%+ CAGR from 2025; management sees potential to reach the top end or better.
The 2026–2030 capital plan is ~$4.1B, with annual investment in 2027–2030 expected to be roughly double 2026’s level.
Digital infrastructure projects could support results above stated growth goals; a 60–70% payout ratio from 2031 supports ~6% CAFD/share growth with minimal external equity under the stated scenario.
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Latest events from Clearway Energy
- FY23 CAFD was $342M; 2024 guidance was reaffirmed at $395M.CWEN
Q4 2023 - 2026 CAFD guidance lowered to $430–$470M, but long-term growth targets and pipeline remain strong.CWENQ2 2026
- Q1 2026 saw $257M EBITDA, $354M revenue, and reaffirmed $470–$510M CAFD guidance.CWENQ1 2026
- All proposals passed, including a major charter amendment simplifying the share structure.CWENAGM 2026
- Proposal to unify share classes aims to boost value, liquidity, and voting fairness for stockholders.CWENProxy filing
- Proposal seeks to convert Class A shares to Class C, streamlining structure and voting rights.CWENProxy filing
- Shareholders are asked to approve a single-class share structure to boost value and liquidity.CWENProxy filing
- Proposal seeks to convert Class A shares to Class C, enhancing liquidity and simplifying structure.CWENProxy filing
- 2025 results exceeded guidance, driven by renewables growth and major new PPAs.CWENQ4 2025
Next Clearway Energy earnings date
Q4 202623 Feb, 2027
Clearway Energy
Next Clearway Energy earnings date
Q4 202623 Feb, 2027
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Frequently asked questions
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.