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Clearway Energy (CWEN) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 5, 2026 · Clearway Energy (CWEN) Q2 2026 earnings results →
Q2 2026 Revenue up 23% year over year to $481M · 25¢ of every $1 of revenue kept as net profit · operating margin 24.1%
Clearway Energy made $481M in Q2 2026 (+23% Y/Y). Operating margin 24.1%, net earnings $122M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
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 $116.0M, a 24.1% margin (up 2.4 points year over year). Of the extra revenue versus Q2 2025, 35% 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 (+36%). Net earnings were $122.0M, up 307% year over year ($30.0M including minority interests, which bore $92.0M of losses). The effective tax rate was -11.1%.
Operating cash flow was $214.0M (up 12% year over year), 713% of net income including minority interests. Non-cash charges added back $196.0M of depreciation and amortization. Working capital and other items used $12.0M. Capital expenditures of $84.0M left free cash flow of $130.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 5, 2026 | $481M | +23% | 24.1% | $122M | $214M |
| Q1 2026 | 10-Q | May 8, 2026 | $354M | +19% | 5.6% | −$68.0M | $401M |
| Q4 2025 | 10-K | Feb 24, 2026 | $310M | +21% | -11.9% | −$199M | $177M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $429M | -12% | 26.1% | $232M | $225M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $392M | +7% | 21.7% | $33.0M | $191M |
| Q1 2025 | 10-Q | May 1, 2025 | $298M | +13% | 0.0% | −$104M | $95.0M |
| Q4 2024 | 10-K | Feb 25, 2025 | $256M | +3% | -14.5% | −$48.0M | $192M |
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About Clearway Energy
Clearway Energy, Inc., together with its consolidated subsidiaries, or the Company, is a publicly-traded 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 corporation on December 20, 2012. 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 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: 24.1% against the peers' median 26.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CWEN Clearway Energy | Q2 2026 | $481M | +23% | 24.1% |
| Southern Power | Q3 2026 | $8.8B | +13% | 33.9% |
| NEE NextEra Energy | Q3 2026 | $8.1B | +2% | 32.4% |
| Florida Power & Light | Q2 2026 | $7.5B | +12% | 29.7% |
| CEG Constellation Energy | Q2 2026 | $7.5B | +23% | 7.7% |
| NRG NRG Energy | Q2 2026 | $7.5B | +11% | 13.0% |
| AEP Texas | Q3 2026 | $6.8B | +14% | 26.5% |
| VST Vistra | Q3 2026 | $6.3B | +28% | 26.9% |
| D Dominion Energy | Q3 2026 | $5.6B | +24% | 32.8% |
Source: Clearway Energy 10-Q on SEC EDGAR · CIK 1567683 · Electric Services
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results