NRG Energy, Inc. (NRG - Free Report) reported fourth-quarter 2022 earnings of $1.64 per share, which surpassed the Zacks Consensus Estimate of $1.43 by 14.7%. The bottom line improved 269.1% from the year-ago quarter’s adjusting loss of 97 cents per share.
In 2022, NRG reported earnings of $5.17 per share, down 32.6% from $7.67 in 2021.
Revenues
NRG Energy’s fourth-quarter 2022 revenues came in at $7,855 million, up 11.5% year over year. Total revenues missed the Zacks Consensus Estimate of $8,673 million by 9.4%.
Total revenues for 2022 were $31.5 billion, compared with $26.9 billion in 2021.
Highlights of the Release
Fourth-quarter adjusted EBITDA was $435 million, up 0.5% from $433 million in the year-ago quarter.
The company’s total operating costs and expenses in 2022 amounted to $29,577 million, up 23.8% from $23,895 million in 2021.
NRG repurchased shares worth 606 million at an average price of $40.5 per share, for a total amount of capital returned to shareholders of $938 million in 2022.
NRG announced the agreement under which the company will acquire Vivint, a smart home platform company, in an all-cash transaction. The company expects to achieve $100 million in cost synergies and $300 million in revenue synergies/growth through cross-selling, channel optimization, and continued base business growth by 2025.
Financial Highlights
As of Dec 31, 2022, NRG Energy had cash and cash equivalents worth $430 million compared with $250 million on Dec 31, 2021.
As of Dec 31, 2022, NRG’s long-term debt and finance leases amounted to $7,976 million compared with $7,966 million on Dec 31, 2021.
Cash provided by operating activities for 2022 was $360 million compared with $493 million in the year-ago period.
Capital expenditures for 2022 were $367 million compared with $269 million in the year-ago period.
Guidance
NRG Energy reaffirms its 2023 adjusted EBITDA in the range of $2,270-$2,470 million. Cash provided by operating activities was in the range of $1,780-$1,980 million.
NRG’s 2023 free cash flow before growth investments was in the band of $1,520-$1,720 million.
Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
SJW Group (SJW - Free Report) is slated to report fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.03 per share, implying a year-over-year increase of 145.24%.
The Zacks Consensus Estimate for 2023 EPS is $2.48, implying a year-over-year increase of 5.3%. SJW delivered an average earnings surprise of 0.97% in the last four quarters.
ONE Gas (OGS - Free Report) is scheduled to report fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.2 per share, indicating a year-over-year increase of 7.14%.
OGS’s long-term (three to five years) earnings growth is currently pegged at 5%. The Zacks Consensus Estimate for 2023 EPS is $4.12, implying a year-over-year increase of 1.54%.
Primo Water Corporation (PRMW - Free Report) is slated to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 17 cents per share, implying a year-over-year increase of 54.6%.
The Zacks Consensus Estimate for 2023 EPS is 82 cents, implying a year-over-year increase of 19.5%. PRMW delivered an average earnings surprise of 7.98% in the last four quarters.
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NRG Energy, Inc. (NRG - Free Report) reported fourth-quarter 2022 earnings of $1.64 per share, which surpassed the Zacks Consensus Estimate of $1.43 by 14.7%. The bottom line improved 269.1% from the year-ago quarter’s adjusting loss of 97 cents per share.
In 2022, NRG reported earnings of $5.17 per share, down 32.6% from $7.67 in 2021.
Revenues
NRG Energy’s fourth-quarter 2022 revenues came in at $7,855 million, up 11.5% year over year. Total revenues missed the Zacks Consensus Estimate of $8,673 million by 9.4%.
Total revenues for 2022 were $31.5 billion, compared with $26.9 billion in 2021.
Highlights of the Release
Fourth-quarter adjusted EBITDA was $435 million, up 0.5% from $433 million in the year-ago quarter.
The company’s total operating costs and expenses in 2022 amounted to $29,577 million, up 23.8% from $23,895 million in 2021.
NRG repurchased shares worth 606 million at an average price of $40.5 per share, for a total amount of capital returned to shareholders of $938 million in 2022.
NRG announced the agreement under which the company will acquire Vivint, a smart home platform company, in an all-cash transaction. The company expects to achieve $100 million in cost synergies and $300 million in revenue synergies/growth through cross-selling, channel optimization, and continued base business growth by 2025.
Financial Highlights
As of Dec 31, 2022, NRG Energy had cash and cash equivalents worth $430 million compared with $250 million on Dec 31, 2021.
As of Dec 31, 2022, NRG’s long-term debt and finance leases amounted to $7,976 million compared with $7,966 million on Dec 31, 2021.
Cash provided by operating activities for 2022 was $360 million compared with $493 million in the year-ago period.
Capital expenditures for 2022 were $367 million compared with $269 million in the year-ago period.
Guidance
NRG Energy reaffirms its 2023 adjusted EBITDA in the range of $2,270-$2,470 million. Cash provided by operating activities was in the range of $1,780-$1,980 million.
NRG’s 2023 free cash flow before growth investments was in the band of $1,520-$1,720 million.
Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
SJW Group (SJW - Free Report) is slated to report fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.03 per share, implying a year-over-year increase of 145.24%.
The Zacks Consensus Estimate for 2023 EPS is $2.48, implying a year-over-year increase of 5.3%. SJW delivered an average earnings surprise of 0.97% in the last four quarters.
ONE Gas (OGS - Free Report) is scheduled to report fourth-quarter results on Feb 22, after market close. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at $1.2 per share, indicating a year-over-year increase of 7.14%.
OGS’s long-term (three to five years) earnings growth is currently pegged at 5%. The Zacks Consensus Estimate for 2023 EPS is $4.12, implying a year-over-year increase of 1.54%.
Primo Water Corporation (PRMW - Free Report) is slated to report fourth-quarter results on Feb 23, before market open. The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 17 cents per share, implying a year-over-year increase of 54.6%.
The Zacks Consensus Estimate for 2023 EPS is 82 cents, implying a year-over-year increase of 19.5%. PRMW delivered an average earnings surprise of 7.98% in the last four quarters.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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