Princeton, NJ-headquartered NRG Energy Inc. (NRG - Free Report) is engaged in the production, sale and delivery of energy and energy products and services to residential, industrial and commercial consumers in major competitive power markets in the U.S.
NRG Energy is focused on expanding its renewable portfolio and is implementing measures to minimize emission during operations. The company continues to work on its fossil fuel decarburization strategy and promote electricity generation from alternate sources.
NRG Energy has announced its transformation plan in 2017 which is aimed to save more than $1 billion through recurring cost cuts and margin improvements.
Estimate Trend & Surprise History
Investors should note that the second quarter 2018 Zacks Consensus Estimate stand at 86 cents which increased 36.5% in the last 60 days.
Coming to the earnings surprise, NRG Energy has surpassed the Zacks Consensus Estimate in two of the last four quarters, resulting in a positive average surprise of 507.93%.
Zacks Rank: Currently, NRG Energy has a Zacks Rank #3 (Hold) but that could change following its second quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: NRG Energy reported earnings of 31 cents per share in the second-quarter of 2018, missing the Zacks Consensus Estimate of 86 cents by 64%.
Revenue: NRG Energy posted revenues of $2,922 million in the quarter, beating the Zacks Consensus Estimate of $2,411 million by 21.2%.
Key Notes: Through the second quarter of 2018, NRG realized $225 million of its 2018 cost savings target as part of Transformation Plan.
Stock Price: It would be interesting to see how the market reacts to the results during the trading session today.
Check back later for our full write up on this NRG Energy earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>