NRG Energy, Inc. NRG posted earnings of 87 cents per share in 2018, against a loss of $6.79 a year ago.
NRG Energy posted revenues of $2,091 million in the quarter under review, which beat the Zacks Consensus Estimate of $1,977 million by 5.7%.
In 2018, the company generated revenues of $9.47 billion that beat the Zacks Consensus Estimate of 9.20 billion by 3%. The top line improved from $9,074 million in 2017.
Highlights of the Release
Fourth-quarter Adjusted EBITDA was $273 millioncompared with $297 million a year ago.
The company realized $532 million of its 2018 cost savings target and $32 million in margin enhancement, as part of the Transformation Plan.
During the quarter, NRG Energy completed $250 million of the additional $500 million share repurchase program that was announced during the third quarter of 2018 earnings call.
As of Dec 31, 2018, NRG Energy had cash and cash equivalents of $563 million compared with $770 million as of Dec 31, 2017.
As of Dec 31, 2018, the company’s long-term debt and capital leases amounted to $6,449 million compared with $9,180 million as of Dec 31, 2017.
The company’s net cash provided operating activities at the end of 2018 was $1,377 million compared with $1,610 million at the end of 2017.
Capital expenditure at the end of Dec 31, 2018, was $388 million compared with $254 million at the end of Dec 31, 2017.
The company expects 2019 adjusted EBITDA guidance in the range of $1,850-$2,050 million and free cash flow before growth investments in the range of $1,250-$1,450 million.
NRG Energy has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
NextEra Energy, Inc. NEE delivered fourth-quarter 2018 adjusted earnings of $1.49 per share, which lagged the Zacks Consensus Estimate of $1.51 by 1.3%.
American Electric Power Co., Inc. AEP generated fourth-quarter 2018 operating earnings per share of 72 cents, in line with the Zacks Consensus Estimate.
Xcel Energy Inc. XEL posted fourth-quarter 2018 operating earnings of 42 cents per share, in line with the Zacks Consensus Estimate.
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