Clearway Energy (CWEN) FY2019 results: revenue $1.0 billion, down 2.0% on the year
Clearway Energy, Inc. (CWEN) reported revenue of $1.0 billion for fiscal 2019, the year ended 31 December 2019, down 2.0% on the year before. Net income was -$11 million, and diluted earnings per share $-0.10. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$1.0 billion
-2.0% on the year
FY2012FY2019
Operating margin
21.7%
33.0% a year earlier
FY2012FY2019
Net income
-$11 million
FY2012FY2019
Diluted EPS
-$0.10
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,032
1,053
1,009
-2.0%
Cost of revenue
337
327
326
+3.1%
Gross profit
695
726
683
-4.3%
Gross margin
67.3%
68.9%
67.7%
Operating income
224
347
283
-35.4%
Operating margin
21.7%
33.0%
28.0%
Interest expense
404
306
307
+32.0%
Pre-tax income
-104
116
48.0
Income tax
-8.0
62.0
72.0
Effective tax rate
n/a
53.4%
150.0%
Net income
-11.0
48.0
-16.0
Net margin
-1.1%
4.6%
-1.6%
Diluted EPS
-$0.10
$0.46
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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
477
498
516
-4.2%
Capital expenditure
228
83.0
190
+174.7%
Free cash flow
249
415
326
-40.0%
Free cash flow margin
24.1%
39.4%
32.3%
Cash from investing
-468
-185
-442
Cash from financing
-175
-46.0
-257
Depreciation and amortisation
401
336
334
+19.3%
Share-based compensation
4.0
3.0
2.0
+33.3%
Dividends paid
155
238
202
-34.9%
Dividend per share
n/a
n/a
$0.30
Shares outstanding at period end
199m
193m
n/a
+2.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,263
2,224
2,159
+1.8%
Debt
6,858
6,044
5,998
+13.5%
Operating lease liabilities
227
0.0
n/a
Other liabilities
352
232
332
+51.7%
Total liabilities and equity
9,700
8,500
8,489
+14.1%
Fixed assets
6,063
5,245
5,410
+15.6%
Intangible assets
1,428
1,156
1,228
+23.5%
Cash and equivalents
155
407
148
-61.9%
Receivables
116
104
95.0
+11.5%
Inventory
40.0
40.0
39.0
0.0%
Other assets
1,898
1,548
1,569
+22.6%
Total assets
9,700
8,500
8,489
+14.1%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.