Filing Flows › Clearway Energy (CWEN) › Q2 2025
Clearway Energy (CWEN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Clearway Energy (CWEN) reported revenue of $392M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +32% from the quarter before. Operating margin was 21.7%, net earnings $33.0M (8.4% of revenue).
Clearway Energy, Q2 2025: revenue $392M (+7% year over year), operating margin 21.7%, net earnings $33.0M, operating cash flow $191M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $392M | +32% | +7% |
| Operating profit | $85.0M | — | +1% |
| Net earnings | $33.0M | +725% | -35% |
| Operating cash flow | $191M | +101% | -3% |
| Free cash flow | $115M | +195% | +25% |
What changed
Revenue was $392.0M in Q2 2025, up 7% year over year and up 32% from the previous quarter.
Operating profit was $85.0M, a 21.7% margin (down 1.3 points year over year). Of the extra revenue versus a year earlier, 4% reached operating profit, below the 23% margin then. Total costs grew 9% against revenue growth of 7%. The fastest-growing cost line was General & admin (+22%). Net earnings were $33.0M, down 35% year over year ($12.0M including minority interests, which bore $21.0M of losses). The effective tax rate was 29.4%.
Operating cash flow was $191.0M (down 3% year over year), 1592% of net income including minority interests. Non-cash charges added back $163.0M of depreciation and amortization. Working capital and other items added $16.0M. Capital expenditures of $76.0M left free cash flow of $115.0M.
Questions
What was Clearway Energy's revenue in the second quarter 2025?
Clearway Energy (CWEN) reported revenue of $392M for the second quarter 2025 (Q2 2025), +7% from a year earlier and +32% from the quarter before.
Was Clearway Energy profitable in the second quarter 2025?
Operating profit was $85.0M (21.7% of revenue) and net earnings $33.0M.
Source: Clearway Energy 10-Q on SEC EDGAR.