NRG Energy (NRG) Q2 Earnings Lag Estimates, Revenues Rise Y/Y
Zacks Investment Research | Aug 06, 2019 10:43PM ET
NRG Energy, Inc. (NYSE:NRG) delivered earnings of 70 cents per share from continuing operations in second-quarter 2019, which missed the Zacks Consensus Estimate of 78 cents by 10.3%. However, the figure improved significantly when compared with a penny registered in the year-ago quarter.
Revenues
NRG Energy’s revenues of $2,465 million in the quarter inched up 0.2% from the year-ago quarter’s figure.
Highlights of the Release
Second-quarter adjusted EBITDA was $469 million compared with $517 million in the year-ago quarter.
As part of the Transformation Plan, the company realized $261 million in the second quarter of its 2019 cost savings target.
Through Aug 7, 2019, the company completed share repurchases of $1.25 billion that includes the $1-billion share repurchase program announced on the fourth quarter of 2018.Moreover, the Board of Directors has authorized an incremental share repurchase program of $250 million, which is expected to be executed in 2019.
The company executed approximately 1.3 gigawatts of solar power purchase agreements in the Electric Reliability Council of Texas (ERCOT).
NRG Energy, Inc. Price, Consensus and EPS Surprise
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