Clearway Energy, Inc. (CWEN) CEO Christopher Sotos on Q1 2022 Results - Earnings Call Transcript

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Q1: 2022-05-05 Earnings Summary

EPS of -$0.28 misses by $0.16
 | Revenue of $214.00M (-9.70% Y/Y) misses by $85.24M

Clearway Energy, Inc. (NYSE:CWEN) Q1 2022 Earnings Conference Call May 5, 2022 8:00 AM ET

Company Participants

Christopher Sotos - President, CEO & Director
Chad Plotkin - EVP & CFO
Craig Cornelius - CEO & President

Conference Call Participants

Julien Dumoulin-Smith - Bank of America Merrill Lynch
William Grippin - UBS
Colton Bean - Tudor, Pickering, Holt & Co.
Michael Lapides - Goldman Sachs Group
Noah Kaye - Oppenheimer

Operator

Good day and thank you for standing by. Welcome to the Clearway Energy, Inc. First Quarter 2022 Earnings Conference Call. [Operator Instructions]. I would now like to hand the conference over to your host today, Chris Sotos, President and CEO of Clearway Energy, Inc. Please, go ahead.

Christopher Sotos

Good morning. Let me first thank you for taking the time to join today's call. Joining me this morning is a Akil Marsh, Director of Investor Relations; Chad Plotkin, our Chief Financial Officer; and Craig Cornelius, President and CEO of Clearway Energy Group. Craig will be available for the Q&A portion of our presentation.

Before we begin, I'd like to quickly note that today's discussion will contain forward-looking statements, which are based on assumptions that we believe to be reasonable as of this date. Actual results may differ materially. Please review the Safe Harbor and today's presentation as well as the risk factors in SEC filings. In addition, we refer to both GAAP and non-GAAP financial measures. For information regarding our non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures, please refer to today's presentation.

Turning to page 4. First quarter results, which on a seasonal basis is the smallest contributor for the full year within our sensitivity range with CAFD of $2 million for the quarter, which is historically our latest quarter for CAFD generation due to the timing of debt

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