Clearway Energy (CWEN) FY2018 results: revenue $1.1 billion, up 4.4% on the year
Clearway Energy, Inc. (CWEN) reported revenue of $1.1 billion for fiscal 2018, the year ended 31 December 2018, up 4.4% on the year before. Net income was $48 million, and diluted earnings per share $0.46. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.1 billion
+4.4% on the year
FY2011FY2018
Operating margin
33.0%
28.0% a year earlier
FY2011FY2018
Net income
$48 million
FY2011FY2018
Diluted EPS
$0.46
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,053
1,009
1,035
+4.4%
Cost of revenue
327
326
308
+0.3%
Gross profit
726
683
727
+6.3%
Gross margin
68.9%
67.7%
70.2%
Operating income
347
283
222
+22.6%
Operating margin
33.0%
28.0%
21.4%
Interest expense
306
307
284
-0.3%
Pre-tax income
116
48.0
1.0
+141.7%
Income tax
62.0
72.0
-1.0
-13.9%
Effective tax rate
53.4%
150.0%
-100.0%
Net income
48.0
-16.0
57.0
Net margin
4.6%
-1.6%
5.5%
Diluted EPS
$0.46
n/a
n/a
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
498
516
577
-3.5%
Capital expenditure
83.0
190
20.0
-56.3%
Free cash flow
415
326
557
+27.3%
Free cash flow margin
39.4%
32.3%
53.8%
Cash from investing
-185
-442
-131
Cash from financing
-46.0
-257
-202
Depreciation and amortisation
336
334
303
+0.6%
Share-based compensation
3.0
2.0
1.0
+50.0%
Dividends paid
238
202
173
+17.8%
Dividend per share
n/a
$0.30
$0.26
Shares outstanding at period end
193m
n/a
n/a
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,224
2,159
2,624
+3.0%
Debt
6,044
5,998
6,049
+0.8%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
232
332
289
-30.1%
Total liabilities and equity
8,500
8,489
8,962
+0.1%
Fixed assets
5,245
5,410
5,554
-3.0%
Intangible assets
1,156
1,228
1,303
-5.9%
Cash and equivalents
407
148
322
+175.0%
Receivables
104
95.0
95.0
+9.5%
Inventory
40.0
39.0
39.0
+2.6%
Other assets
1,548
1,569
1,649
-1.3%
Total assets
8,500
8,489
8,962
+0.1%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.