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NRG Energy (NRG) Q1 Loss Wider than Expected, Revenues Miss
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NRG Energy, Inc. (NRG - Free Report) reported a loss of 52 cents in the first quarter of 2017 compared with the Zacks Consensus Estimate of a loss of 41 cents. In the year-ago quarter, the company had reported earnings of 24 cents.
Revenues
NRG Energy's quarterly operating revenues of $2,759 million lagged the Zacks Consensus Estimate of $3,295 million by 16.3% and were down 14.5% from $3,229 million reported in the first quarter of 2016.
NRG Energy, Inc. Price, Consensus and EPS Surprise
Total operating costs and expenses in the quarter declined 2.5% to $2,714 million from $2,785 million a year ago.
The company’s adjusted EBITDA was $412 million in the first quarter of 2017, down 49.3% from $812 million a year ago.
The company incurred interest expenses of $269 million in the quarter, down 5.3% from $284 million in the year-ago quarter.
Highlights of the Release
As of Mar 31, 2017, NRG Energy had cash and cash equivalents of 1,513 million compared with $ 1,973 million as of Dec 31, 2016.
The company’s long-term debt and capital leases (excluding current portion) were $ 17,672 million as of Mar 31, 2017 compared with $18,006 million as of Dec 31, 2016.
NRG Energy’s net cash used in operating activities was $68 million against cash inflow of $554 million in the prior-year period.
Capital expenditure in first-quarter 2017 was $268 million, down 4% from $279 million in the year-ago period.
Guidance
NRG reaffirmed its 2017 adjusted EBITDA guidance in the range of $2,700–$2,900 million and free cash flow before growth investments of $800–$1,000 million.
Peer Release
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2017 operating earnings per share of 96 cents, missing the Zacks Consensus Estimate of 97 cents by 1%.
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating EPS of $1.79, which surpassed the Zacks Consensus Estimate of $1.57 by 14%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted EPS of 71 cents, beating the Zacks Consensus Estimate of 65 cents by 9.2%.
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NRG Energy (NRG) Q1 Loss Wider than Expected, Revenues Miss
NRG Energy, Inc. (NRG - Free Report) reported a loss of 52 cents in the first quarter of 2017 compared with the Zacks Consensus Estimate of a loss of 41 cents. In the year-ago quarter, the company had reported earnings of 24 cents.
Revenues
NRG Energy's quarterly operating revenues of $2,759 million lagged the Zacks Consensus Estimate of $3,295 million by 16.3% and were down 14.5% from $3,229 million reported in the first quarter of 2016.
NRG Energy, Inc. Price, Consensus and EPS Surprise
NRG Energy, Inc. Price, Consensus and EPS Surprise | NRG Energy, Inc. Quote
Highlights of the Release
Total operating costs and expenses in the quarter declined 2.5% to $2,714 million from $2,785 million a year ago.
The company’s adjusted EBITDA was $412 million in the first quarter of 2017, down 49.3% from $812 million a year ago.
The company incurred interest expenses of $269 million in the quarter, down 5.3% from $284 million in the year-ago quarter.
Highlights of the Release
As of Mar 31, 2017, NRG Energy had cash and cash equivalents of 1,513 million compared with $ 1,973 million as of Dec 31, 2016.
The company’s long-term debt and capital leases (excluding current portion) were $ 17,672 million as of Mar 31, 2017 compared with $18,006 million as of Dec 31, 2016.
NRG Energy’s net cash used in operating activities was $68 million against cash inflow of $554 million in the prior-year period.
Capital expenditure in first-quarter 2017 was $268 million, down 4% from $279 million in the year-ago period.
Guidance
NRG reaffirmed its 2017 adjusted EBITDA guidance in the range of $2,700–$2,900 million and free cash flow before growth investments of $800–$1,000 million.
Peer Release
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2017 operating earnings per share of 96 cents, missing the Zacks Consensus Estimate of 97 cents by 1%.
DTE Energy Company (DTE - Free Report) reported first-quarter 2017 operating EPS of $1.79, which surpassed the Zacks Consensus Estimate of $1.57 by 14%.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2017 adjusted EPS of 71 cents, beating the Zacks Consensus Estimate of 65 cents by 9.2%.
Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>