NRG Energy, Inc.’s NRG second-quarter 2020 earnings of $1.27 per share from continuing operations missed the Zacks Consensus Estimate of $1.53 by 17%. Nevertheless, the bottom line improved 69.3% from the year-ago quarter’s figure.
NRG Energy’s quarterly revenues logged $2,238 million, down 9.2% from the year-ago quarter’s figure.
Highlights of the Release
Second-quarter adjusted EBITDA was $574 million compared with $469 million in the year-ago quarter.
The company’s total operating costs and expenses in the quarter amounted to $1.75 billion, down 18.3% from $2.15 billion in the year-ago quarter. The upside is owing to lower supply and operating costs.
Operating income was $484 million, up 51.25% from $320 million in the year-ago quarter. Interest expenses of $96 million were down 8.6% from $105 million in the prior-year quarter.
NRG Energy, Inc. Price, Consensus and EPS Surprise
NRG Energy, Inc. price-consensus-eps-surprise-chart | NRG Energy, Inc. Quote
As of Jun 30, 2020, the company had cash and cash equivalents worth $418 million compared with $345 million as of Dec 31, 2019.
As of Jun 30, 2020, the company’s long-term debt amounted to $5,810 million compared with $5,803 million as of Dec 31, 2019.
The company’s net cash provided by operating activities in the first half of 2020 was $692 million compared with $425 million generated in the year-ago first half.
Capital expenditures in the first six months of 2020 were $116 million compared with $107 million in the comparable period last year.
The company reaffirmed 2020 and 2021 adjusted EBITDA guidance in the range of $1,900-$2,100 million, respectively. It also anticipates free cash flow before growth investments in the band of $1,275-$1,475 million for both years.
NRG Energy has a Zacks Rank #3 (Hold), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
FirstEnergy Corporation FE delivered second-quarter 2020 operating earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 55 cents by 3.64%.
NextEra Energy, Inc. NEE reported second-quarter 2020 adjusted earnings of $2.61 per share, trumping the Zacks Consensus Estimate of $2.50 by 4.4%.
CMS Energy Corporation CMS reported second-quarter 2020 adjusted earnings per share of 49 cents, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
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