We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NRG Energy (NRG) Lags Q3 Earnings Estimates, Tops Revenues
Read MoreHide Full Article
NRG Energy, Inc. (NRG - Free Report) reported earnings of 94 cents per share in third-quarter 2018, missing the Zacks Consensus Estimate of $1.12 per share by 16%. Earnings improved 56.7% year over year on better performance by the integrated retail and generation platform.
Revenues
NRG Energy posted revenues of $3,061 million in the quarter, beating the Zacks Consensus Estimate of $2,960 million by 3.4%. Quarterly revenues improved 11.7% year over year.
NRG Energy, Inc. Price, Consensus and EPS Surprise
Total operating costs and expenses in the third quarter was $2,659 million, up 8.8% from the year-ago quarter’s tally.
Adjusted EBITDA in the third quarter was $677 million compared with $552 million a year ago.
Through the third quarter of 2018, the company realized $ 375 million of cost savings target in 2018 under the Transformation Plan.
Financial Highlights
As of Sep 30, 2018, NRG Energy had cash and cash equivalents of $1,359 million compared with $767 million as of Dec 31, 2017.
As of Sep 30, 2018, the company’s long-term debt and capital leases were $6,658 million compared with $9,180 million as of Dec 31, 2017.
The company’s net cash provided operating activities at the end of the first nine months of 2018 was $1,082 million compared with $736 million at the end of the first nine months of 2017.
Capital expenditure at the end of Sep 30, 2018, was $345 million compared with $172 million at the end of Sep 30, 2017.
Guidance
NRG Energy narrowed the 2018 adjusted EBITDA guidance to a range of $1,700-$1,800 million from $2,800-$3,000 million and free cash flow before growth investments to the range of $1,240-$1,340 million from $1,550-$1,750 million. The narrowed guidance reflects the completion of sale of the NRG Yield and the Renewables Platform, as well as the previously announced divestment of the South Central business unit.
The company initiated 2019 adjusted EBITDA guidance in the range of $1,850-$2,050 million and free cash flow before growth investments in the range of $1,405-$1,605 million.
NextEra Energy (NEE - Free Report) reported third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.
DTE Energy Company (DTE - Free Report) posted third-quarter 2018 operating earnings per share of $2.13, which outpaced the Zacks Consensus Estimate of $1.74 by 22.4%.
FirstEnergy Corporation (FE - Free Report) reported third-quarter 2018 operating earnings of 80 cents per share, beating the Zacks Consensus Estimate of 73 cents by 9.59%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
NRG Energy (NRG) Lags Q3 Earnings Estimates, Tops Revenues
NRG Energy, Inc. (NRG - Free Report) reported earnings of 94 cents per share in third-quarter 2018, missing the Zacks Consensus Estimate of $1.12 per share by 16%. Earnings improved 56.7% year over year on better performance by the integrated retail and generation platform.
Revenues
NRG Energy posted revenues of $3,061 million in the quarter, beating the Zacks Consensus Estimate of $2,960 million by 3.4%. Quarterly revenues improved 11.7% year over year.
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 third quarter was $2,659 million, up 8.8% from the year-ago quarter’s tally.
Adjusted EBITDA in the third quarter was $677 million compared with $552 million a year ago.
Through the third quarter of 2018, the company realized $ 375 million of cost savings target in 2018 under the Transformation Plan.
Financial Highlights
As of Sep 30, 2018, NRG Energy had cash and cash equivalents of $1,359 million compared with $767 million as of Dec 31, 2017.
As of Sep 30, 2018, the company’s long-term debt and capital leases were $6,658 million compared with $9,180 million as of Dec 31, 2017.
The company’s net cash provided operating activities at the end of the first nine months of 2018 was $1,082 million compared with $736 million at the end of the first nine months of 2017.
Capital expenditure at the end of Sep 30, 2018, was $345 million compared with $172 million at the end of Sep 30, 2017.
Guidance
NRG Energy narrowed the 2018 adjusted EBITDA guidance to a range of $1,700-$1,800 million from $2,800-$3,000 million and free cash flow before growth investments to the range of $1,240-$1,340 million from $1,550-$1,750 million. The narrowed guidance reflects the completion of sale of the NRG Yield and the Renewables Platform, as well as the previously announced divestment of the South Central business unit.
The company initiated 2019 adjusted EBITDA guidance in the range of $1,850-$2,050 million and free cash flow before growth investments in the range of $1,405-$1,605 million.
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.
Utility Releases
NextEra Energy (NEE - Free Report) reported third-quarter 2018 adjusted earnings of $2.18 per share, beating the Zacks Consensus Estimate of $2.17 by 0.46%.
DTE Energy Company (DTE - Free Report) posted third-quarter 2018 operating earnings per share of $2.13, which outpaced the Zacks Consensus Estimate of $1.74 by 22.4%.
FirstEnergy Corporation (FE - Free Report) reported third-quarter 2018 operating earnings of 80 cents per share, beating the Zacks Consensus Estimate of 73 cents by 9.59%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>