NRG Energy (NRG) Beats Q2 Earnings Estimates, Revenues Lag
Zacks Investment Research | Aug 03, 2017 04:12AM ET
NRG Energy, Inc. (NYSE:NRG) reported earnings of 36 cents in the second quarter of 2017, surpassing the Zacks Consensus Estimate of a loss of 5 cents.
Revenues
NRG Energy's quarterly operating revenues of $2,701 million lagged the Zacks Consensus Estimate of $3,032 million by 10.9%. However, revenues were up 20.2% from $2,248 million reported in the second quarter of 2016.
Highlights of the Release
Total operating costs and expenses in the quarter increased 17.2% to $2,402 million from $2,050 million a year ago.
The company’s adjusted EBITDA was $685 million in the second quarter of 2017, down 1.9% from $698 million a year ago.
The company incurred interest expenses of $247 million in the quarter, up 5.3% from $237 million in the year-ago quarter.
Highlights of the Release
As of Jun 30, NRG Energy had cash and cash equivalents of $752 million compared with $938 million as of Dec 31, 2016.
The company’s long-term debt and capital leases (excluding current portion) were $15,842 million compared with $15,957 million as of Dec 31, 2016.
The company’s net cash provided in operating activities in the first half of 2017 was $74 million against $811 million in the prior-year period.
Capital expenditure in second-quarter 2017 was $542 million, up 22.6% from $442 million in the year-ago period.
Guidance
NRG reaffirmed its 2017 adjusted EBITDA guidance in the range of $2,565–$2,765 million and free cash flow before growth investments of 1,290–$1,490 million.
Zacks Rank
NRG Energy has a Zacks Rank #2 (Buy). You can see .
Peer Releases
NextEra Energy, Inc. (NYSE:NEE) reported second-quarter 2017 adjusted earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.7%. Reported earnings were also up 11.4% year over year.
Eversource Energy (NYSE:ES) reported second-quarter 2017 operating earnings of 72 cents per share, beating the Zacks Consensus Estimate of 68 cents by 5.8%. The quarterly earnings were up 12.5% from the year-ago quarter figure of 64 cents.
First Energy Corp. (NYSE:FE) reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings were up 8.9% year over year.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Get The News You Want
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential. Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.