We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NRG Energy (NRG) Q2 Earnings and Revenues Top Estimates
Read MoreHide Full Article
NRG Energy, Inc. (NRG - Free Report) posted a second-quarter 2022 adjusted net income of 33 cents per share, surpassing the Zacks Consensus Estimate of 31 cents by 6.5%.
Revenues
NRG Energy’s second-quarter 2022 revenues came in at $7,282 million, up 38.9% year over year. Total revenues also beat the Zacks Consensus Estimate of $4,745 million by 53.5%.
NRG Energy, Inc. Price, Consensus and EPS Surprise
Second-quarter adjusted EBITDA was $358 million, down 45.4% from $656 million in the year-ago quarter.
The company’s total operating costs and expenses in the second quarter of 2022 amounted to $6.6 billion, up 78.4% from $3.7 billion in the year-ago quarter of 2021.
Interest expenses of $105 million decreased 16% from the prior-year quarter’s $125 million.
NRG Energy is executing a $1-billion share repurchase program, and shares worth $595 million are remaining to be completed by the end of 2022.
Financial Highlights
As of Jun 30, 2022, NRG Energy had cash and cash equivalents worth $580 million compared with $250 million on Dec 31, 2021.
As of Jun 30, 2022, NRG’s long-term debt and finance leases amounted to $7,970 million compared with $7,966 million on Dec 31, 2021.
Cash provided by operating activities for the first six months of 2022 was $3,189 million compared with $377 million in the year-ago quarter.
Capital expenditures for the first six months of 2022 were $150 million compared with $143 million in the year-ago period.
Guidance
NRG Energy reiterated 2022 adjusted EBITDA in the range of $1,950-$2,250 million. NRG continues to expect 2022 free cash flow before growth investments in the band of $1,140-$1,440 million.
NRG Energy envisions 2022 cash flow from operations in the band of $1,470-$1,770 million.
Dominion Energy (D - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 before market open. The Zacks Consensus Estimate for earnings is pegged at 77 cents per share. Dominion Energy’s long-term earnings growth is projected at 6.4%.
Hawaiian Electric Industries (HE - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 after market close. The Zacks Consensus Estimate for earnings is pegged at 52 cents per share. Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%.
Southwest Gas Holdings (SWX - Free Report) is set to release second-quarter 2022 results on Aug 9 after market close. The Zacks Consensus Estimate for earnings per share is pegged at 49 cents. Southwest Gas’ long-term earnings growth is projected at 5%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
NRG Energy (NRG) Q2 Earnings and Revenues Top Estimates
NRG Energy, Inc. (NRG - Free Report) posted a second-quarter 2022 adjusted net income of 33 cents per share, surpassing the Zacks Consensus Estimate of 31 cents by 6.5%.
Revenues
NRG Energy’s second-quarter 2022 revenues came in at $7,282 million, up 38.9% year over year. Total revenues also beat the Zacks Consensus Estimate of $4,745 million by 53.5%.
NRG Energy, Inc. Price, Consensus and EPS Surprise
NRG Energy, Inc. price-consensus-eps-surprise-chart | NRG Energy, Inc. Quote
Highlights of the Release
Second-quarter adjusted EBITDA was $358 million, down 45.4% from $656 million in the year-ago quarter.
The company’s total operating costs and expenses in the second quarter of 2022 amounted to $6.6 billion, up 78.4% from $3.7 billion in the year-ago quarter of 2021.
Interest expenses of $105 million decreased 16% from the prior-year quarter’s $125 million.
NRG Energy is executing a $1-billion share repurchase program, and shares worth $595 million are remaining to be completed by the end of 2022.
Financial Highlights
As of Jun 30, 2022, NRG Energy had cash and cash equivalents worth $580 million compared with $250 million on Dec 31, 2021.
As of Jun 30, 2022, NRG’s long-term debt and finance leases amounted to $7,970 million compared with $7,966 million on Dec 31, 2021.
Cash provided by operating activities for the first six months of 2022 was $3,189 million compared with $377 million in the year-ago quarter.
Capital expenditures for the first six months of 2022 were $150 million compared with $143 million in the year-ago period.
Guidance
NRG Energy reiterated 2022 adjusted EBITDA in the range of $1,950-$2,250 million. NRG continues to expect 2022 free cash flow before growth investments in the band of $1,140-$1,440 million.
NRG Energy envisions 2022 cash flow from operations in the band of $1,470-$1,770 million.
Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Dominion Energy (D - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 before market open. The Zacks Consensus Estimate for earnings is pegged at 77 cents per share. Dominion Energy’s long-term earnings growth is projected at 6.4%.
Hawaiian Electric Industries (HE - Free Report) is scheduled to announce second-quarter 2022 results on Aug 8 after market close. The Zacks Consensus Estimate for earnings is pegged at 52 cents per share. Hawaiian Electric Industries’ long-term earnings growth is projected at 3.2%.
Southwest Gas Holdings (SWX - Free Report) is set to release second-quarter 2022 results on Aug 9 after market close. The Zacks Consensus Estimate for earnings per share is pegged at 49 cents. Southwest Gas’ long-term earnings growth is projected at 5%.