Clearway Energy Inc Class C (CWEN)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	77,000	106,000	90,000	825,000	804,000	823,000	800,000	47,000	63,000	17,000	36,000	67,000	33,000	21,000	8,000	-85,000	-61,000	-46,000	-42,000	64,000
Revenue (ttm)	US$ in thousands	1,314,000	1,333,000	1,302,000	1,264,000	1,190,000	1,240,000	1,251,000	1,263,000	1,286,000	1,248,000	1,229,000	1,178,000	1,199,000	1,154,000	1,118,000	1,073,000	1,032,000	1,026,000	1,022,000	1,045,000
Pretax margin		5.86%	7.95%	6.91%	65.27%	67.56%	66.37%	63.95%	3.72%	4.90%	1.36%	2.93%	5.69%	2.75%	1.82%	0.72%	-7.92%	-5.91%	-4.48%	-4.11%	6.12%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $77,000K ÷ $1,314,000K
= 5.86%

Clearway Energy Inc's pretax margin has shown significant fluctuations over the past eight quarters. In Q1 2023 and Q4 2022, the company reported unusually high pretax margins of 105.06% and 107.73% respectively, which may be indicative of certain unique circumstances or one-time events impacting profitability. Conversely, Q1 2022 and Q4 2023 recorded negative pretax margins, suggesting the company incurred losses before accounting for taxes during those periods.

Overall, Clearway Energy Inc's pretax margin seems to exhibit volatility and irregularities within its financial performance. It would be essential to further investigate the reasons behind such extreme fluctuations to assess the company's operational efficiency and profitability sustainability.