NRG Energy (NRG) Q2 Earnings and Revenues Top Estimates

NRG Energy, Inc. NRG 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 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 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 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%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.