Clearway Energy (CWEN) FY2017 results: revenue $1.0 billion, down 2.5% on the year
Clearway Energy, Inc. (CWEN) reported revenue of $1.0 billion for fiscal 2017, the year ended 31 December 2017, down 2.5% on the year before. Net income was -$16 million. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$1.0 billion
-2.5% on the year
FY2011FY2017
Operating margin
28.0%
21.4% a year earlier
FY2011FY2017
Net income
-$16 million
FY2011FY2017
Diluted EPS
n/a
FY2011FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,009
1,035
968
-2.5%
Cost of revenue
326
308
323
+5.8%
Gross profit
683
727
645
-6.1%
Gross margin
67.7%
70.2%
66.6%
Operating income
283
222
326
+27.5%
Operating margin
28.0%
21.4%
33.7%
Interest expense
307
284
267
+8.1%
Pre-tax income
48.0
1.0
84.0
+4,700.0%
Income tax
72.0
-1.0
12.0
Effective tax rate
150.0%
-100.0%
14.3%
Net income
-16.0
57.0
33.0
Net margin
-1.6%
5.5%
3.4%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
516
577
425
-10.6%
Capital expenditure
190
20.0
29.0
+850.0%
Free cash flow
326
557
396
-41.5%
Free cash flow margin
32.3%
53.8%
40.9%
Cash from investing
-442
-131
-1,098
Cash from financing
-257
-202
354
Depreciation and amortisation
334
303
303
+10.2%
Share-based compensation
2.0
1.0
1.0
+100.0%
Dividends paid
202
173
139
+16.8%
Dividend per share
$0.30
$0.26
n/a
+14.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,159
2,624
2,903
-17.7%
Debt
5,998
6,049
5,656
-0.8%
Other liabilities
332
289
230
+14.9%
Total liabilities and equity
8,489
8,962
8,789
-5.3%
Fixed assets
5,410
5,554
5,878
-2.6%
Intangible assets
1,228
1,303
1,362
-5.8%
Cash and equivalents
148
322
111
-54.0%
Receivables
95.0
95.0
101
0.0%
Inventory
39.0
39.0
36.0
0.0%
Other assets
1,569
1,649
1,301
-4.9%
Total assets
8,489
8,962
8,789
-5.3%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.