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

Clearway Energy

09/05/2024 14:32

* Clearway Energy Inc  CWENa.N  reported a quarterly
adjusted loss
of 2 cents​​ per share for the quarter ended in March, lower
than the same quarter last year, when the company reported
breakeven earnings per share.  The mean expectation of
four analysts for the quarter was for a loss of 25 cents per
share. Wall Street expected results to range from -44 cents to 7
cents per share.
    * Revenue fell 8.7% to $263.00 million from a year ago;
analysts
expected $287.51 million. 
    * Clearway Energy Inc's reported EPS for the quarter was a
loss
of 2 cents​.
    * The company reported a quarterly loss of $2 million.
    * Clearway Energy Inc shares had risen by 7.3% this
quarter and
lost 9.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 29.3%
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 8 "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 $29.50 
This summary was machine generated from LSEG data May 9 at 01:31
p.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
 Mar. 31 2024      -0.25          -0.02          Beat
 Dec. 31 2023      0.04           0.31           Beat
 Sep. 30 2023      0.66           0.03           Missed
 Jun. 30 2023      0.60           0.33           Missed