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NRG Energy (NRG) Q1 Earnings Lag Estimates, Revenues Down Y/Y

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NRG Energy, Inc. (NRG - Free Report) delivered earnings of 55 cents per share from continuing operations in first-quarter 2020, which missed the Zacks Consensus Estimate of 75 cents by 26.6%. Nevertheless, the bottom line increased 61.7% from the year-ago quarter’s figure.    

Revenues

NRG Energy’s quarterly revenues amounted to $2,019 million, down 6.7% from the year-ago quarter’s figure.

Highlights of the Release

First-quarter adjusted EBITDA was $349 million compared with $333 million in the year-ago quarter.

The company changed its business segments from Retail and Generation to Texas, East and West/Other in the beginning of first-quarter 2020.

It has achieved 41% Greenhouse Gas (GHG) emissions reduction since 2014.

The company’s total operating costs and expenses in the quarter amounted to $1.78 billion, down 8.7% from $1.95 billion in the year-ago quarter.

Operating income was $244 million, up 10.4% from $221 million in the year-ago quarter. Interest expenses amounted to $98 million, down 14% from $114 million in the prior-year quarter.

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 Mar 31, 2020, the company had cash and cash equivalents of $759 million compared with $345 million as of Dec 31, 2019.

As of Mar 31, 2020, the company’s long-term debt and capital leases amounted to $5,807 million compared with $5,803 million as of Dec 31, 2019.

The company’s net cash from operating activities in the first three months of 2020 was $208 million compared with net cash used in operating activities of $91 million generated in the year-ago quarter.

Capital expenditures in the first three months of 2020 were $66 million compared with $49 million in the year-ago quarter.

Guidance

The company reaffirmed its 2020 adjusted EBITDA guidance in the range of $1,900-$2,100 million. It also anticipates free cash flow before growth investments in the range of $1,275-$1,475 million.

Zacks Rank

NRG Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.

NextEra Energy (NEE - Free Report) reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.

CMS Energy Corporation (CMS - Free Report) reported first-quarter 2020 adjusted earnings per share of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.

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