Clearway Energy Inc reports results for the quarter ended in December - Earnings Summary

Clearway Energy

23/02/2024 03:06

* Clearway Energy Inc  CWENa.N  reported quarterly adjusted
earnings of 31 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 10 cents.  The mean expectation of
six analysts for the quarter was for earnings of 4 cents per
share. Wall Street expected results to range from -34 cents
to 39 cents per share.
    * Revenue fell 7.1% to $249.00 million from a year ago;
analysts
expected $294.73 million. 
    * Clearway Energy Inc's reported EPS for the quarter was 31
cents​.
    * The company reported quarterly net income of $37 million.
    * Clearway Energy Inc shares had fallen by 14.2% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 60.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the independent
power
producers peer group is also "buy"

Wall Street's median 12-month price target for Clearway Energy
Inc is $29.00 
This summary was machine generated from LSEG data February 23 at
03:06 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.04           0.31           Beat
 Sep. 30 2023      0.66           0.03           Missed
 Jun. 30 2023      0.60           0.33           Missed
 Mar. 31 2023      -0.37          0.00           Beat