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NRG Energy (NRG) Earnings Rise Y/Y, Revenues Top Estimates
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NRG Energy, Inc. (NRG - Free Report) posted earnings of 87 cents per share in 2018, against a loss of $6.79 a year ago.
Revenues
NRG Energy posted revenues of $2,091 million in the quarter under review, which beat the Zacks Consensus Estimate of $1,977 million by 5.7%.
In 2018, the company generated revenues of $9.47 billion that beat the Zacks Consensus Estimate of 9.20 billion by 3%. The top line improved from $9,074 million in 2017.
Highlights of the Release
Fourth-quarter Adjusted EBITDA was $273 millioncompared with $297 million a year ago.
The company realized $532 million of its 2018 cost savings target and $32 million in margin enhancement, as part of the Transformation Plan.
During the quarter, NRG Energy completed $250 million of the additional $500 million share repurchase program that was announced during the third quarter of 2018 earnings call.
Financial Highlights
As of Dec 31, 2018, NRG Energy had cash and cash equivalents of $563 million compared with $770 million as of Dec 31, 2017.
As of Dec 31, 2018, the company’s long-term debt and capital leases amounted to $6,449 million compared with $9,180 million as of Dec 31, 2017.
The company’s net cash provided operating activities at the end of 2018 was $1,377 million compared with $1,610 million at the end of 2017.
Capital expenditure at the end of Dec 31, 2018, was $388 million compared with $254 million at the end of Dec 31, 2017.
Guidance
The company expects 2019 adjusted EBITDA guidance in the range of $1,850-$2,050 million and free cash flow before growth investments in the range of $1,250-$1,450 million.
NextEra Energy, Inc. (NEE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc. (AEP - Free Report) generated fourth-quarter 2018 operating earnings per share of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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NRG Energy (NRG) Earnings Rise Y/Y, Revenues Top Estimates
NRG Energy, Inc. (NRG - Free Report) posted earnings of 87 cents per share in 2018, against a loss of $6.79 a year ago.
Revenues
NRG Energy posted revenues of $2,091 million in the quarter under review, which beat the Zacks Consensus Estimate of $1,977 million by 5.7%.
In 2018, the company generated revenues of $9.47 billion that beat the Zacks Consensus Estimate of 9.20 billion by 3%. The top line improved from $9,074 million in 2017.
Highlights of the Release
Fourth-quarter Adjusted EBITDA was $273 millioncompared with $297 million a year ago.
The company realized $532 million of its 2018 cost savings target and $32 million in margin enhancement, as part of the Transformation Plan.
During the quarter, NRG Energy completed $250 million of the additional $500 million share repurchase program that was announced during the third quarter of 2018 earnings call.
Financial Highlights
As of Dec 31, 2018, NRG Energy had cash and cash equivalents of $563 million compared with $770 million as of Dec 31, 2017.
As of Dec 31, 2018, the company’s long-term debt and capital leases amounted to $6,449 million compared with $9,180 million as of Dec 31, 2017.
The company’s net cash provided operating activities at the end of 2018 was $1,377 million compared with $1,610 million at the end of 2017.
Capital expenditure at the end of Dec 31, 2018, was $388 million compared with $254 million at the end of Dec 31, 2017.
Guidance
The company expects 2019 adjusted EBITDA guidance in the range of $1,850-$2,050 million and free cash flow before growth investments in the range of $1,250-$1,450 million.
Zacks Rank
NRG Energy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc. (NEE - Free Report) delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc. (AEP - Free Report) generated fourth-quarter 2018 operating earnings per share of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc. (XEL - Free Report) posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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