NRG Energy (NRG) Q3 Earnings Lag Estimates, Revenues Rise Y/Y
Zacks Investment Research | Nov 06, 2019 10:40PM ET
NRG Energy, Inc. (NYSE:NRG) delivered earnings of $1.88 per share from continuing operations in third-quarter 2019, which missed the Zacks Consensus Estimate of $2.14 by 12.1%. However, the bottom line improved 100% from the year-ago quarter.
Revenues
NRG Energy’s revenues of $2,996 million in the quarter inched up 1.2% from the year-ago quarter’s figure.
Highlights of the Release
Third-quarter adjusted EBITDA was $792 million compared with $651 million in the year-ago quarter.
As part of the Transformation Plan, the company realized $401 million in the third quarter of its 2019 cost-savings target.
Through Nov 7, 2019, the company completed share repurchases of $1.305 billion at an average price of $38.75 per share. The company has nearly $195 million remaining share repurchases under the latest $250-million share repurchase program announced in the second quarter. In total the company has allocated $1.5 billion of capital available for allocation to share repurchases in 2019.
On Sep 27, 2019, NRG Energy contributed $95 million to Petra Nova to prepay a significant portion of the project debt and fund operations.
NRG Energy, Inc. Price, Consensus and EPS Surprise
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