NRG Energy (NRG) Q1 Earnings and Revenues Miss Estimates

NRG Energy, Inc. NRG incurred 25 cents per share in first-quarter 2022, missing the Zacks Consensus Estimate of 55 cents by 54.5%.

Revenues

NRG Energy’s first-quarter 2022 revenues came in at $7.89 billion, down 2.4% year over year. Total revenues also lagged the Zacks Consensus Estimate of $8.56 billion by 7.8%.

NRG Energy, Inc. Price, Consensus and EPS Surprise

NRG Energy, Inc. Price, Consensus and EPS Surprise

NRG Energy, Inc. price-consensus-eps-surprise-chart | NRG Energy, Inc. Quote

Highlights of the Release

First-quarter adjusted EBITDA was $509 million, down 10.2% from $567 million in the year-ago quarter.

The company’s total operating costs and expenses in first-quarter 2022 amounted to $5.5 billion, down 32.9% from $8.2 billion in the first quarter of 2021.

Interest expenses of $103 million decreased 18.9% from the prior-year quarter’s $127 million.

NRG Energy is executing a $1 billion share repurchase program, and shares worth $301 million were repurchased through Apr 30, 2022.

Financial Highlights

As of Mar 31, 2022, NRG Energy had cash and cash equivalents worth $387 million compared with $250 million on Dec 31, 2021.

As of Mar 31, 2022, NRG’s long-term debt and finance leases amounted to $8,026 million compared with $7,966 million on Dec 31, 2021.

Cash provided /(used) by operating activities in the first quarter of 2022 was $1,676 million against ($917) million in the year-ago period.

Capital expenditures in the first quarter of 2022 were $60 million compared with $63 million in the first quarter of 2021.

Guidance

NRG Energy reiterated 2022 adjusted EBITDA in the range of $1,950-$2,250 million. NRG continues to expect 2021 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 $1,380-$1,680 million.

Zacks Rank

NRG Energy has a Zacks Rank #5 (Strong Sell) at present.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

NextEra Energy, Inc. NEE reported first-quarter 2022 adjusted earnings of 74 cents per share, which beat the Zacks Consensus Estimate of 69 cents by 7.3%.

NextEra Energy’s long-term (three to five years) earnings growth is pegged at 8.8%. The Zacks Consensus Estimate for NEE’s 2022 earnings per share of $2.81 indicates year-over-year growth of 10.2%.

American Electric Power Company, Inc. AEP reported first-quarter 2022 adjusted earnings per share of $1.22, which beat the Zacks Consensus Estimate of $1.19 by 2.5%.

American Electric Power’s long-term earnings growth is projected at 5.9%. The Zacks Consensus Estimate for AEP’s 2022 earnings indicates year-over-year growth of 5.3%.

Xcel Energy Inc. XEL posted first-quarter 2022 operating earnings of 70 cents per share, which surpassed the Zacks Consensus Estimate of 68 cents by 2.9%.

Xcel Energy’s long-term earnings growth is projected at 6.4%. The Zacks Consensus Estimate for XEL’s 2022 earnings indicates year-over-year growth of 7.1%.

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