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Clearway Energy LLC earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 5, 2026

Q2 2026 Revenue up 23% year over year to $481M · 53¢ of every $1 of revenue kept as net profit · operating margin 24.3%

Clearway Energy LLC made $481M in Q2 2026 (+23% Y/Y). Operating margin 24.3%, net earnings $257M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.

Revenue$481M
Year over year+23%
Operating margin24.3%
Net earnings$257M
Operating cash flow$215M

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What changed this quarter

Revenue was $481.0M in Q2 2026, up 23% year over year and up 36% from the previous quarter.

Operating profit was $117.0M, a 24.3% margin (up 2.1 points year over year). Of the extra revenue versus Q2 2025, 34% reached operating profit, above the 22% margin then. Total costs grew 19% against revenue growth of 23%. The fastest-growing cost line was General & admin (+40%). Net earnings were $257.0M, up 302% year over year ($28.0M including minority interests, which bore $229.0M of losses). The effective tax rate was 0.0%.

Operating cash flow was $215.0M (up 11% year over year), 768% of net income including minority interests. Non-cash charges added back $196.0M of depreciation and amortization. Capital expenditures of $84.0M left free cash flow of $131.0M.

Quarterly history

Clearway Energy LLC revenue by quarterClearway Energy LLC revenue by quarter$256MQ4 2024$298MQ1 2025$392MQ2 2025$429MQ3 2025$310MQ4 2025$354MQ1 2026$481MQ2 2026
Clearway Energy LLC net earnings by quarterClearway Energy LLC net earnings by quarter−$49.0MQ4 2024−$104MQ1 2025$69.0MQ2 2025$345MQ3 2025−$115MQ4 2025−$69.0MQ1 2026$257MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 5, 2026$481M+23%24.3%$257M$215M
Q1 202610-QMay 8, 2026$354M+19%5.9%−$69.0M$120M
Q4 202510-KFeb 24, 2026$310M+21%-11.6%−$115M$171M
Q3 202510-QNov 5, 2025$429M-12%26.1%$345M$226M
Q2 202510-QAug 6, 2025$392M+7%22.2%$69.0M$193M
Q1 202510-QMay 1, 2025$298M+13%0.0%−$104M$90.0M
Q4 202410-KFeb 25, 2025$256M+3%-14.5%−$49.0M$192M

Charts

Clearway Energy LLC: revenue growth, year over year and quarter over quarterClearway Energy LLC: revenue growth, year over year and quarter over quarterY/YQ/Q+3%Q4 2024+13%+16%Q1 2025+7%+32%Q2 2025-12%+9%Q3 2025+21%-28%Q4 2025+19%+14%Q1 2026+23%+36%Q2 2026
Latest (Q2 2026): Y/Y +23%, Q/Q +36%.
Clearway Energy LLC: where the cash came from (+) and went (−), TTM to Q2 2026Clearway Energy LLC: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow$732MOther investing−$399MCapital spending−$346MAcquisitions−$339MCash drawn (+) / kept (−)$244MShares issued$98.0MOther financing$62.0MNet borrowing (+) / repaid (−)−$52.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Clearway Energy LLC: profit against cash, quarter by quarterClearway Energy LLC: profit against cash, quarter by quarterNet incomeOperating cash flow$60.0M$301MQ3 2024−$49.0M$192MQ4 2024−$104M$90.0MQ1 2025$19.0M$193MQ2 2025$29.0M$226MQ3 2025−$115M$171MQ4 2025−$69.0M$120MQ1 2026$28.0M$215MQ2 2026
Latest (Q2 2026): Net income $28.0M, Operating cash flow $215M.
Clearway Energy LLC: long-term debt falling due (FY2025)Clearway Energy LLC: long-term debt falling due (FY2025)$1.1B2026$364M2027$2.0B2028$863M2029$995M2030$3.3BLater
Cash $231M, short-term investments —, long-term debt $8.7B at 2025-12-31.
Clearway Energy LLC in its industry: growth against margin (53 companies, SIC 4911)Clearway Energy LLC in its industry: growth against margin (53 companies, SIC 4911)revenue growth, year over year →↑ operating marginmedian +10%median 24%Southern Power CoSONEEFlorida Power & Light CoCEGNRGAEP Texas Inc.VSTDAEPEIXFirstEnergy Pennsylvania Electric CoETI-PDTEFEEAITVEETRPublic Service Co of New HampshirePPLOncor Electric Delivery Co LLCCNPPNWWELPPTLNPuget Energy IncOGEHEPORHawaiian Electric Co IncTampa Electric CoBasin Electric Power CooperativeTXNMIDAOglethorpe Power CorpIpalco Enterprises, Inc.Tucson Electric Power CoCWENFirstEnergy Transmission, LLCTri-State Generation & Transmission Association, Inc.ITC Holdings Corp.BKHCleco Corporate Holdings LLCOld Dominion Electric CooperativeCleco Power LLCXIFROTTRORAHNRGGreenbacker Renewable Energy Co LLCSPRUOPTTClearway Energy LLC (+23%, 24%)
Electric Services; dot size is quarterly revenue; dashed lines are the industry's medians.

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Customers and suppliers named in filings

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About Clearway Energy LLC

Clearway Energy LLC, together with its consolidated subsidiaries, or the Company, is an energy infrastructure investor with a focus on investments in clean energy and owner of modern, sustainable and long-term contracted assets across North America. The Company was formed as a Delaware limited liability company on March 5, 2013. The Company is sponsored by Clearway Energy Group LLC, or CEG. The Company is one of the largest owners of clean energy generation assets in the U.S. The Company’s portfolio comprises approximately 12.9 GW of gross capacity in 27 states, including approximately 10.1 GW of wind, solar and battery energy storage systems, or BESS, and approximately 2.8 GW of dispatchable combustion-based power generation assets included in the Flexible Generation segment that provide critical grid reliability services.

In its own words, from its 10-K, filed Feb 24, 2026.

Clearway Energy LLC against its Electric Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +23% against the peers' median +14%. Operating margin: 24.3% against the peers' median 26.9%.

CompanyQuarterRevenueY/YOp. margin
Clearway Energy LLCQ2 2026$481M+23%24.3%
Southern PowerQ3 2026$8.8B+13%33.9%
NEE NextEra EnergyQ3 2026$8.1B+2%32.4%
Florida Power & LightQ2 2026$7.5B+12%29.7%
CEG Constellation EnergyQ2 2026$7.5B+23%7.7%
NRG NRG EnergyQ2 2026$7.5B+11%13.0%
AEP TexasQ3 2026$6.8B+14%26.5%
VST VistraQ3 2026$6.3B+28%26.9%
D Dominion EnergyQ3 2026$5.6B+24%32.8%

Source: Clearway Energy LLC 10-Q on SEC EDGAR · CIK 1637757 · Electric Services