Clearway Energy Drops on 83% EPS Forecast Miss

CLEARWAY Energy (CWEN) closed at $32.07, down 3.14 percent, underperforming the S&P 500's 0.48 percent decline and the Nasdaq's 0.64 percent drop.

The stock has lost 4.03 percent over the past month while the Oils-Energy sector gained 8.39 percent—a 12-point gap that signals investor concern ahead of earnings.

The company is projected to report quarterly EPS of $0.34, an 83 percent collapse from the year-ago quarter. Revenue is expected to reach $493.43 million, up 15.02 percent year-over-year, masking the profit deterioration.

For fiscal 2024, Zacks Consensus Estimates project a net loss of $0.5 per share versus earnings in the prior year. Full-year revenue is estimated at $1.68 billion, up 17.74 percent.

Despite the earnings disaster, the Zacks Consensus EPS estimate for CWEN increased 25.24 percent over the past month—a sign analysts may be front-running a recovery or adjusting expectations downward from even worse prior forecasts. The company holds a Zacks Rank of #3 (Hold).

Clearway Energy operates natural gas, solar and wind generation assets across two segments: Flexible Generation and Renewables & Storage. The company was spun out of NRG Energy and focuses on clean energy infrastructure in the United States.

CLEARWAY Energy (CWEN) closed at $32.07, down 3.14 percent, underperforming the S&P 500's 0.48 percent decline and the Nasdaq's 0.64 percent drop.

The stock has lost 4.03 percent over the past month while the Oils-Energy sector gained 8.39 percent—a 12-point gap that signals investor concern ahead of earnings.

For fiscal 2024, Zacks Consensus Estimates project a net loss of $0.5 per share versus earnings in the prior year. Full-year revenue is estimated at $1.68 billion, up 17.74 percent.