NRG Energy, Inc.’s (NRG - Free Report) second-quarter 2020 earnings of $1.27 per share from continuing operations missed the Zacks Consensus Estimate of $1.53 by 17%. Nevertheless, the bottom line improved 69.3% from the year-ago quarter’s figure.
Revenues
NRG Energy’s quarterly revenues logged $2,238 million, down 9.2% from the year-ago quarter’s figure.
Highlights of the Release
Second-quarter adjusted EBITDA was $574 million compared with $469 million in the year-ago quarter.
The company’s total operating costs and expenses in the quarter amounted to $1.75 billion, down 18.3% from $2.15 billion in the year-ago quarter. The upside is owing to lower supply and operating costs.
Operating income was $484 million, up 51.25% from $320 million in the year-ago quarter. Interest expenses of $96 million were down 8.6% from $105 million in the prior-year quarter.
Financial Highlights
As of Jun 30, 2020, the company had cash and cash equivalents worth $418 million compared with $345 million as of Dec 31, 2019.
As of Jun 30, 2020, the company’s long-term debt amounted to $5,810 million compared with $5,803 million as of Dec 31, 2019.
The company’s net cash provided by operating activities in the first half of 2020 was $692 million compared with $425 million generated in the year-ago first half.
Capital expenditures in the first six months of 2020 were $116 million compared with $107 million in the comparable period last year.
Guidance
The company reaffirmed 2020 and 2021 adjusted EBITDA guidance in the range of $1,900-$2,100 million, respectively. It also anticipates free cash flow before growth investments in the band of $1,275-$1,475 million for both years.
Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, trumping the Zacks Consensus Estimate of $2.50 by 4.4%.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2020 adjusted earnings per share of 49 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
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NRG Energy, Inc.’s (NRG - Free Report) second-quarter 2020 earnings of $1.27 per share from continuing operations missed the Zacks Consensus Estimate of $1.53 by 17%. Nevertheless, the bottom line improved 69.3% from the year-ago quarter’s figure.
Revenues
NRG Energy’s quarterly revenues logged $2,238 million, down 9.2% from the year-ago quarter’s figure.
Highlights of the Release
Second-quarter adjusted EBITDA was $574 million compared with $469 million in the year-ago quarter.
The company’s total operating costs and expenses in the quarter amounted to $1.75 billion, down 18.3% from $2.15 billion in the year-ago quarter. The upside is owing to lower supply and operating costs.
Operating income was $484 million, up 51.25% from $320 million in the year-ago quarter. Interest expenses of $96 million were down 8.6% from $105 million in the prior-year quarter.
Financial Highlights
As of Jun 30, 2020, the company had cash and cash equivalents worth $418 million compared with $345 million as of Dec 31, 2019.
As of Jun 30, 2020, the company’s long-term debt amounted to $5,810 million compared with $5,803 million as of Dec 31, 2019.
The company’s net cash provided by operating activities in the first half of 2020 was $692 million compared with $425 million generated in the year-ago first half.
Capital expenditures in the first six months of 2020 were $116 million compared with $107 million in the comparable period last year.
Guidance
The company reaffirmed 2020 and 2021 adjusted EBITDA guidance in the range of $1,900-$2,100 million, respectively. It also anticipates free cash flow before growth investments in the band of $1,275-$1,475 million for both years.
Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation (FE - Free Report) delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2020 adjusted earnings of $2.61 per share, trumping the Zacks Consensus Estimate of $2.50 by 4.4%.
CMS Energy Corporation (CMS - Free Report) reported second-quarter 2020 adjusted earnings per share of 49 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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