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NRG Energy's (NRG) Q2 Earnings Miss, Sales Beat Estimates


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NRG Energy, Inc. NRG reported earnings of 31 cents per share in second-quarter 2018, missing the Zacks Consensus Estimate of 86 cents by 64%.

Revenues

NRG Energy posted revenues of $2,922 million in the quarter, beating the Zacks Consensus Estimate of $2,411 million by 21.2%. Quarterly revenues improved 8.2% year over year.

Highlights of the Release

Total operating costs and expenses in the second quarter was $2,602 million, up 11.4% from the year-ago quarter's tally.

Adjusted EBITDA in the second quarter was $843 million compared with $686 million in the year-ago quarter.

Through the second quarter of 2018, the company realized $225 million of cost savings target in 2018, which is part of the Transformation Plan.

In the first half of 2018, NRG Energy completed $500 million of $1-billion share buyback program, which was announced earlier in 2018.

NRG Energy, Inc. Price, Consensus and EPS Surprise

NRG Energy, Inc. Price, Consensus and EPS Surprise | NRG Energy, Inc. Quote

Financial Highlights

As of Jun 30, 2018, NRG Energy had cash and cash equivalents of $980 million compared with $991 million as of Dec 31, 2017.

As of Jun 30, 2018, the company's long-term debt and capital leases (excluding current portion) were $14,821 million compared with $15,716 million as of Dec 31, 2017.

The company's net cash provided/ (used) in operating activities at the end of first-half 2018 was $524 million compared with $74 million at the end of first-half 2017.

Capital expenditure at the end of Jun 30, 2018 was $691 million compared with $542 million at the end of Jun 30, 2017.

Guidance

NRG Energy reaffirmed 2018 adjusted EBITDA guidance in the range of $2,800-$3,000 million and free cash flow before growth investments in the range of $1,550-$1,750 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 .

Utility Releases

DTE Energy DTE reported second-quarter 2018 operating earnings per share (EPS) of $1.36, which outpaced the Zacks Consensus Estimate of $1.11 by 22.5%.

American Electric Power AEP reported second-quarter 2018 adjusted EPS of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.

NextEra Energy NEE reported second-quarter 2018 adjusted earnings of $2.11, beating the Zacks Consensus Estimate of $2.07 by 1.93%

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Business , Earnings , Stocks
Referenced Symbols: AEP , NEE , DTE , NRG



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