Back to top

Image: Bigstock

NRG Energy (NRG) Q2 Earnings Lag Estimates, Revenues Rise Y/Y

Read MoreHide Full Article

NRG Energy, Inc. (NRG - Free Report) delivered earnings of 70 cents per share from continuing operations in second-quarter 2019, which missed the Zacks Consensus Estimate of 78 cents by 10.3%. However, the figure improved significantly when compared with a penny registered in the year-ago quarter.  

Revenues

NRG Energy’s revenues of $2,465 million in the quarter inched up 0.2% from the year-ago quarter’s figure.

Highlights of the Release

Second-quarter adjusted EBITDA was $469 million compared with $517 million in the year-ago quarter.

As part of the Transformation Plan, the company realized $261 million in the second quarter of its 2019 cost savings target.

Through Aug 7, 2019, the company completed share repurchases of $1.25 billion that includes the $1-billion share repurchase program announced on the fourth quarter of 2018.Moreover, the Board of Directors has authorized an incremental share repurchase program of $250 million, which is expected to be executed in 2019.

The company executed approximately 1.3 gigawatts of solar power purchase agreements in the Electric Reliability Council of Texas (ERCOT).

NRG Energy, Inc. Price, Consensus and EPS Surprise

NRG Energy, Inc. Price, Consensus and EPS Surprise

NRG Energy, Inc. price-consensus-eps-surprise-chart | NRG Energy, Inc. Quote

Financial Highlights

As of Jun 30, 2019, the company had cash and cash equivalents of $294 million compared with $563 million as of Dec 31, 2018.

As of Jun 30, the company’s long-term debt and capital leases amounted to $5,794 million compared with $6,449 million as of Dec 31, 2018.

The company’s net cash provided by operating activities in the first six months of 2019 was $389 million compared with $513 million generated in the first six months of 2018.

Capital expenditure in the first six months of 2019 was $107 million compared with $282 million in the year-ago period.

Guidance

The company reaffirmed 2019 adjusted EBITDA guidance in the range of $1,850-$2,050 million and free cash flow before growth investments in the band of $1,250-$1,450 million.

Zacks Rank

NRG Energy has a Zacks Rank #5 (Strong Sell).

Other Releases

American Electric Power Co., Inc (AEP - Free Report) ,  reported second-quarter 2019 adjusted earnings per share (EPS) of $1.00, which surpassed the Zacks Consensus Estimate of 98 cents by 2%. It carries a Zacks Rank #3 (Hold).

NextEra Energy (NEE - Free Report) reported second-quarter 2019 adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.28 by 3.1%.It carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

PPL Corporation (PPL - Free Report) reported second-quarter 2019 adjusted EPS of 58 cents, which beat the Zacks Consensus Estimate of 56 cents by 3.6%. It carries a Zacks Rank #3.

This Could Be the Fastest Way to Grow Wealth in 2019

Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.

These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.

Click here to see these breakthrough stocks now >>

Published in