EarningsQ2 2026 Earnings Report
MX:CWEN Q2 2026 EPS Results
Actual EPS$17.96
Consensus EPS$4.76
Beat/MissBeat by +$13.20
One Year Ago EPS$5.03
MX:CWEN Q2 2026 Revenue Results
Actual Revenue$8.60B
Expected Revenue$8.51B
Beat/MissBeat by +$91.30M
YoY Revenue Growth+18.27%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:CWEN Upcoming Earnings
Clearway Energy's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CWEN Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents strong long-term conviction driven by a sizable and increasingly commercialized development pipeline, clear multi-year capital plans, accretive contracting actions, and a path to deliver top-end 2030 targets. Near-term results were impacted by weather-driven resource shortfalls that prompted a downward revision to 2026 CAFD guidance and introduced near-term sensitivity. Management emphasizes that the underlying fleet earnings power remains intact and that most growth investments are derisked and ready to be funded from a mix of retained cash flow, debt and modest equity issuance. Overall, the positive long-term visibility and multiple accretive actions outweigh the transitory operational headwinds.Company Guidance
Q2 Financial Results
Adjusted EBITDA of $409 million and CAFD of $167 million for Q2 2026; year-to-date adjusted EBITDA $666 million and YTD CAFD $237 million.
Reaffirmed and Clear Long-Term Targets
Company reaffirmed 2027 CAFD per share target of $2.70 or better and targets 7%–8%+ compound annual CAFD per share growth from 2025–2030 (top end). Also reiterates long-term CAFD per share growth objective of 5%–8%+ beyond 2030.
Visible Growth Pipeline and Capital Plan
Approximately $3.0 billion of potential corporate capital deployment planned for 2026–2029 with over $2.0 billion of identified growth already lined up for 2027–2029; ~70% of growth investment needed to hit the top end of 2030 target is already commercialized.
Powering Program and Fleet Enhancements
Powering program expected to deploy ~ $600 million of capital at ~11%–12% CAFD yields; completed long-term PPA transactions on all three targeted ERCOT wind projects (extending contracted tenors across >600 MW beyond 2040) to increase pro forma EBITDA and CAFD and improve cash-flow predictability.
Funding Sources & Balance Sheet Targets
Funding plan through retained cash flow (> $500 million expected contribution 2026–2029), corporate debt (~$1.5 billion planned between 2026–2029; $600 million already raised), and external equity (~$0.5–1.0 billion expected; $50 million raised). Target corporate leverage ~4.0–4.5x and commitment to a BB credit rating and payout ratio <70%.
Digital Infrastructure Upside
Clearway Group pipeline includes >17 GW of co-located generation under development (with >6 GW highlighted in MISO South and Wyoming); management cites material upside from co-located digital infrastructure and potential investment upside (management discussed ~$400–$500M of corporate capital opportunity per GW in Q&A as additive optionality).
Accretive Contract Restructurings
PPA restructurings for projects (e.g., Elbow Creek and Langford) structured to be accretive to EBITDA and CAFD from the first month of effectiveness, while financing upfront break costs via project banks.
MX:CWEN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed