NRG Energy, Inc. NRG reported first-quarter 2023 earnings of 86 cents per share, which missed the Zacks Consensus Estimate of 90 cents by 4.4%. The bottom line improved 244% from the year-ago quarter’s level of 25 cents.
Total revenues came in at $7,722 million, which missed the Zacks Consensus Estimate of $8,106 million by 4.7%. The figure also declined 2.2% from $7,896 million in the prior-year quarter.
NRG Energy, Inc. Price, Consensus and EPS Surprise
NRG Energy, Inc. price-consensus-eps-surprise-chart | NRG Energy, Inc. Quote
Highlights of the Release
The company recorded adjusted EBITDA of $646 million, up 20.5% from the year-ago quarter’s $536 million.
Total operating costs and expenses amounted to $9,465 million, up 73.1% from $5,468 million in year-ago quarter due to higher cost of operations.
Operating loss came in at $1,544 million against an operating income of $2,425 million in the prior-year period.
As of Mar 31, 2023, NRG had cash and cash equivalents worth $407 million compared with $430 million as on Dec 31, 2022.
As of Mar 31, 2023, long-term debt and finance leases amounted to $11,332 million compared with $7,976 million as on Dec 31, 2022.
Cash used by operating activities in the first quarter was $1,598 million against cash provided of $1,676 million in the year-ago period.
Capital expenditures totaled $142 million compared with $60 million in the corresponding quarter of 2022.
NRG Energy increased its 2023 adjusted EBITDA guidance to the range of $3,010-$3,250 million from $2,270-$2,470 million.
The company lowered its guided range for cash provided by operating activities to $1,610-$1,850 million from $1,780-$1,980 million.
NRG’s 2023 free cash flow before growth investment is expected in the band of $1,620-$1,860 million.
The company 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.
Edison International EIX reported first-quarter 2023 adjusted earnings of $1.09 per share, which beat the Zacks Consensus Estimate by 4.8%.
EIX’s long-term (three to five years) earnings growth rate is currently pinned at 2.92%. The consensus estimate for 2023 EPS stands at $4.74, indicating a year-over-year increase of 2.6%.
Eversource Energy ES recorded first-quarter 2023 earnings of $1.41 per share, which beat the consensus mark by 3.7%.
ES’ long-term earnings growth rate is currently pinned at 6.34%. The consensus estimate for 2023 EPS stands at $4.36, indicating a year-over-year increase of 6.6%.
NiSource Inc. NI reported first-quarter 2023 operating EPS of 77 cents, which came in line with the Zacks Consensus Estimate.
NI’s long-term earnings growth rate is currently pegged at 6.9%. The consensus mark for 2023 EPS stands at $1.57, indicating a year-over-year increase of 6.8%.
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