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NRG Energy (NRG) Q1 Earnings Beat, Restructuring On Track
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NRG Energy, Inc. (NRG - Free Report) reported earnings of 87 cents per share in the first quarter of 2018, beating the Zacks Consensus Estimate of break even by a wide margin.
Revenues
NRG Energy posted revenues of $2,421 million in the quarter, beating the Zacks Consensus Estimate of $2,234 million by 8.4%. The quarterly revenues improved by 1.63% year over year.
Highlights of the Release
Operation & Maintenance and Other cost of operations in the first quarter was $2,017 million, down 15.8% from $2,396 in the year-ago quarter.
Adjusted EBITDA in the first quarter was $549 million compared with $385 million in the year-ago period.
At the end of first-quarter 2018, the company realized $80 million of its 2018 cost savings target as part of its announced Transformation Plan.
NRG Energy, Inc. Price, Consensus and EPS Surprise
As of Mar 31, 2018, NRG Energy had cash and cash equivalents of $764 million compared with $991 million as of Dec 31, 2017.
As of Mar 31, 2018, the company’s long-term debt and capital leases (excluding current portion) were $15,406 million, compared with $15,716 million as of Dec 31, 2017.
The company’s net cash provided/(used) in operating activities in the first quarter of 2018 was $357 million, compared with ($82) million in the prior-year period.
Capital expenditure in the first quarter of 2018 was $358 million, up 517% from $236 million in the first quarter of 2017.
The NRG board of directors has authorized $1 billion for share repurchases, with the first $500 million program to begin immediately. During the first quarter, NRG Energy repurchased 3.1 million shares of its common stock for $93 million at an average cost of $29.75 per share.
Guidance
NRG Energy reaffirmed 2018 adjusted EBITDA guidance in the range of $2,800-$3,000 million and free cash flow before growth investments within $1,550-$1,750 million.
ALLETE, Inc. (ALE - Free Report) reported first-quarter 2018 adjusted earnings of 99 cents per share, in line with the Zacks Consensus Estimate.
WEC Energy Group (WEC - Free Report) reported first-quarter 2018 operating earnings of $1.23 per share, beating the Zacks Consensus Estimate of $1.16 by 6.03%.
FirstEnergy Corp. (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.
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Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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NRG Energy (NRG) Q1 Earnings Beat, Restructuring On Track
NRG Energy, Inc. (NRG - Free Report) reported earnings of 87 cents per share in the first quarter of 2018, beating the Zacks Consensus Estimate of break even by a wide margin.
Revenues
NRG Energy posted revenues of $2,421 million in the quarter, beating the Zacks Consensus Estimate of $2,234 million by 8.4%. The quarterly revenues improved by 1.63% year over year.
Highlights of the Release
Operation & Maintenance and Other cost of operations in the first quarter was $2,017 million, down 15.8% from $2,396 in the year-ago quarter.
Adjusted EBITDA in the first quarter was $549 million compared with $385 million in the year-ago period.
At the end of first-quarter 2018, the company realized $80 million of its 2018 cost savings target as part of its announced Transformation Plan.
NRG Energy, Inc. Price, Consensus and EPS Surprise
NRG Energy, Inc. Price, Consensus and EPS Surprise | NRG Energy, Inc. Quote
Financial Highlights
As of Mar 31, 2018, NRG Energy had cash and cash equivalents of $764 million compared with $991 million as of Dec 31, 2017.
As of Mar 31, 2018, the company’s long-term debt and capital leases (excluding current portion) were $15,406 million, compared with $15,716 million as of Dec 31, 2017.
The company’s net cash provided/(used) in operating activities in the first quarter of 2018 was $357 million, compared with ($82) million in the prior-year period.
Capital expenditure in the first quarter of 2018 was $358 million, up 517% from $236 million in the first quarter of 2017.
The NRG board of directors has authorized $1 billion for share repurchases, with the first $500 million program to begin immediately. During the first quarter, NRG Energy repurchased 3.1 million shares of its common stock for $93 million at an average cost of $29.75 per share.
Guidance
NRG Energy reaffirmed 2018 adjusted EBITDA guidance in the range of $2,800-$3,000 million and free cash flow before growth investments within $1,550-$1,750 million.
Zacks Rank
Currently, NRG Energy sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Utility Releases
ALLETE, Inc. (ALE - Free Report) reported first-quarter 2018 adjusted earnings of 99 cents per share, in line with the Zacks Consensus Estimate.
WEC Energy Group (WEC - Free Report) reported first-quarter 2018 operating earnings of $1.23 per share, beating the Zacks Consensus Estimate of $1.16 by 6.03%.
FirstEnergy Corp. (FE - Free Report) reported first-quarter 2018 operating earnings of 67 cents per share, lagging the Zacks Consensus Estimate of 68 cents by 1.5%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>