Clearway Energy (CWEN) FY2023 results: revenue $1.3 billion, up 10.4% on the year
Clearway Energy, Inc. (CWEN) reported revenue of $1.3 billion for fiscal 2023, the year ended 31 December 2023, up 10.4% on the year before. Net income was $79 million, down 86.4%, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$1.3 billion
+10.4% on the year
FY2016FY2023
Operating margin
20.0%
123.5% a year earlier
FY2016FY2023
Net income
$79 million
-86.4% on the year
FY2016FY2023
Diluted EPS
$0.67
-86.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
702
787
701
-10.8%
Capital expenditure
212
112
151
+89.3%
Free cash flow
490
675
550
-27.4%
Free cash flow margin
37.3%
56.7%
42.8%
Cash from investing
-523
1,065
-865
Cash from financing
-124
-1,510
367
Depreciation and amortisation
526
512
509
+2.7%
Share-based compensation
n/a
n/a
4.0
Dividends paid
311
289
268
+7.6%
Diluted shares, weighted
35m
35m
35m
0.0%
Shares outstanding at period end
202m
202m
202m
+0.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,994
4,026
3,300
+24.0%
Redeemable equity
1.0
7.0
0.0
-85.7%
Debt
8,099
6,870
8,201
+17.9%
Operating lease liabilities
627
548
561
+14.4%
Other liabilities
980
861
751
+13.8%
Total liabilities and equity
14,701
12,312
12,813
+19.4%
Fixed assets
9,526
7,421
7,650
+28.4%
Intangible assets
2,374
2,565
2,499
-7.4%
Cash and equivalents
535
657
179
-18.6%
Receivables
n/a
153
144
Inventory
55.0
47.0
37.0
+17.0%
Other assets
2,211
1,469
2,304
+50.5%
Total assets
14,701
12,312
12,813
+19.4%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.