NRG Energy, Inc. (NRG - Free Report) reported earnings of 36 cents in the second quarter of 2017, surpassing the Zacks Consensus Estimate of a loss of 5 cents.
Revenues
NRG Energy's quarterly operating revenues of $2,701 million lagged the Zacks Consensus Estimate of $3,032 million by 10.9%. However, revenues were up 20.2% from $2,248 million reported in the second quarter of 2016.
Highlights of the Release
Total operating costs and expenses in the quarter increased 17.2% to $2,402 million from $2,050 million a year ago.
The company’s adjusted EBITDA was $685 million in the second quarter of 2017, down 1.9% from $698 million a year ago.
The company incurred interest expenses of $247 million in the quarter, up 5.3% from $237 million in the year-ago quarter.
Highlights of the Release
As of Jun 30, NRG Energy had cash and cash equivalents of $752 million compared with $938 million as of Dec 31, 2016.
The company’s long-term debt and capital leases (excluding current portion) were $15,842 million compared with $15,957 million as of Dec 31, 2016.
The company’s net cash provided in operating activities in the first half of 2017 was $74 million against $811 million in the prior-year period.
Capital expenditure in second-quarter 2017 was $542 million, up 22.6% from $442 million in the year-ago period.
Guidance
NRG reaffirmed its 2017 adjusted EBITDA guidance in the range of $2,565–$2,765 million and free cash flow before growth investments of 1,290–$1,490 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.
Peer Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up 11.4% year over year.
Eversource Energy (ES - Free Report) reported second-quarter 2017 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 68 cents by 5.8%. The quarterly earnings were up 12.5% from the year-ago quarter figure of 64 cents.
First Energy Corp. (FE - Free Report) reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings were up 8.9% year over year.
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NRG Energy, Inc. (NRG - Free Report) reported earnings of 36 cents in the second quarter of 2017, surpassing the Zacks Consensus Estimate of a loss of 5 cents.
Revenues
NRG Energy's quarterly operating revenues of $2,701 million lagged the Zacks Consensus Estimate of $3,032 million by 10.9%. However, revenues were up 20.2% from $2,248 million reported in the second quarter of 2016.
Highlights of the Release
Total operating costs and expenses in the quarter increased 17.2% to $2,402 million from $2,050 million a year ago.
The company’s adjusted EBITDA was $685 million in the second quarter of 2017, down 1.9% from $698 million a year ago.
The company incurred interest expenses of $247 million in the quarter, up 5.3% from $237 million in the year-ago quarter.
Highlights of the Release
As of Jun 30, NRG Energy had cash and cash equivalents of $752 million compared with $938 million as of Dec 31, 2016.
The company’s long-term debt and capital leases (excluding current portion) were $15,842 million compared with $15,957 million as of Dec 31, 2016.
The company’s net cash provided in operating activities in the first half of 2017 was $74 million against $811 million in the prior-year period.
Capital expenditure in second-quarter 2017 was $542 million, up 22.6% from $442 million in the year-ago period.
Guidance
NRG reaffirmed its 2017 adjusted EBITDA guidance in the range of $2,565–$2,765 million and free cash flow before growth investments of 1,290–$1,490 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.
Peer Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up 11.4% year over year.
Eversource Energy (ES - Free Report) reported second-quarter 2017 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 68 cents by 5.8%. The quarterly earnings were up 12.5% from the year-ago quarter figure of 64 cents.
First Energy Corp. (FE - Free Report) reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings were up 8.9% year over year.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. See these stocks now>>
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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