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NRG Yield (NYLD) Q2 Earnings & Revenues Surpass Estimates

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NRG Yield, Inc. delivered second-quarter 2018 earnings of 70 cents per share, surpassing the Zacks Consensus Estimate of 34 cents by 105.9%. In the year-ago quarter, the company’s bottom line came in at 28 cents.

Total Revenues

In the reported quarter, NRG Yield’s revenues of $307 million outpaced the Zacks Consensus Estimate of $274 million by 12%. Also, the top line was up 6.6% year over year. This strong performance was primarily boosted by growth in the renewable business.

Operational Highlights

The company’s total operating expenses in the second quarter were in line with the year-over-year figure of $163 million.

Interest expenses came in at $71 million, decreasing 21.1% from $90 million in the year-ago quarter.

NRG Yield, Inc. Price, Consensus and EPS Surprise

Financial Condition

NRG Yield had cash and cash equivalents of $130 million as of Jun 30, 2018, down from $148 million as of Dec 31, 2017.

Long-term debt as of Jun 30, 2018 was $5,244 million, reflecting a reduction from $5,659 million as of Dec 31, 2017.

The company’s net cash flow from operating activities during the quarter under consideration was $116 million compared with $105 million recorded in the prior-year period.

Guidance

NRG Yield provides its full-year 2018 guidance of $125 million for net income. Also, the company expects the cash available for distribution (CAFD) to be around $280 million.

Zacks Rank

NRG Yield currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Upcoming Release

CenterPoint Energy, Inc. (CNP - Free Report) will report second-quarter 2018 results on Aug 3. The Zacks Consensus Estimate for the quarter is pegged at 32 cents per share.

Southwest Gas Corporation (SWX - Free Report) will report second-quarter 2018 results on Aug 6. The Zacks Consensus Estimate for the quarter is pegged at 31 cents per share.

North Oil & Gas, Inc. (NOG - Free Report) will report second-quarter 2018 results on Aug 14. The Zacks Consensus Estimate for the quarter is pegged at 8 cents per share.

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