Filing Flows › Clearway Energy (CWEN) › Q3 2025
Clearway Energy (CWEN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Clearway Energy (CWEN) reported revenue of $429M for the third quarter 2025 (Q3 2025), -12% from a year earlier and +9% from the quarter before. Operating margin was 26.1%, net earnings $232M (54.1% of revenue).
Clearway Energy, Q3 2025: revenue $429M (-12% year over year), operating margin 26.1%, net earnings $232M, operating cash flow $225M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $429M | +9% | -12% |
| Operating profit | $112M | +32% | -37% |
| Net earnings | $232M | +603% | +544% |
| Operating cash flow | $225M | +18% | -25% |
| Free cash flow | $144M | +25% | -46% |
What changed
Revenue was $429.0M in Q3 2025, down 12% year over year and up 9% from the previous quarter.
Operating profit was $112.0M, a 26.1% margin (down 10.5 points year over year). Total costs grew 3% against a revenue fall of 12%. The fastest-growing cost line was General & admin (+11%). Net earnings were $232.0M, up 544% year over year ($60.0M including minority interests, which bore $172.0M of losses). The tax line was a benefit of $31.0M on pre-tax earnings of $29.0M.
Operating cash flow was $225.0M (down 25% year over year), 375% of net income including minority interests. Non-cash charges added back $176.0M of depreciation and amortization. Capital expenditures of $81.0M left free cash flow of $144.0M.
Questions
What was Clearway Energy's revenue in the third quarter 2025?
Clearway Energy (CWEN) reported revenue of $429M for the third quarter 2025 (Q3 2025), -12% from a year earlier and +9% from the quarter before.
Was Clearway Energy profitable in the third quarter 2025?
Operating profit was $112M (26.1% of revenue) and net earnings $232M.
Source: Clearway Energy 10-Q on SEC EDGAR.