Market Overview

NRG Energy, Inc. Reports Second Quarter 2019 Results

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  • Reaffirming 2019 guidance
  • Reduced debt by $600 million to achieve investment grade metrics
  • Announcing incremental $250 million share repurchase program
  • Closed Stream Energy acquisition
  • Executed approximately 1.3 GWs of solar power purchase agreements in ERCOT

 

NRG Energy, Inc. (NYSE:NRG) today reported second quarter 2019 income from continuing operations of $189 million, or $0.75 per diluted common share and Adjusted EBITDA for the second quarter of $469 million.

"Our platform performed well during both the quarter and first half of the year, demonstrating the stability of our integrated model," said Mauricio Gutierrez, NRG President and Chief Executive Officer. "I am also pleased to announce that we have completed our deleveraging program, aligning our credit profile with investment grade metrics and enhancing our financial flexibility to create significant and sustainable shareholder value."

Consolidated Financial Results

NRG completed the sale of its Renewables Platform, and its interests in Clearway Energy, as well as the South Central Portfolio, on August 31, 2018, and February 4, 2019, respectively. As a result, 2018 financial information for the sales were recast to reflect the presentation of these entities as discontinued operations.

 

 

Three Months Ended

 

Six Months Ended

($ in millions)

 

6/30/19

 

6/30/18

 

6/30/19

 

6/30/18

Income from Continuing Operations

 

$

189

 

 

$

27

 

 

$

283

 

 

$

265

 

Cash provided by Continuing Operations

 

$

516

 

 

$

18

 

 

$

381

 

 

$

264

 

Adjusted EBITDA

 

$

469

 

 

$

517

 

 

$

801

 

 

$

853

 

Free Cash Flow Before Growth Investments (FCFbG)

 

$

230

 

 

$

174

 

 

$

204

 

 

$

216

 

Segment Results

Table 1: Income/(Loss) from Continuing Operations

($ in millions)

 

Three Months Ended

 

Six Months Ended

Segment

 

6/30/19

 

6/30/18

 

6/30/19

 

6/30/18

Retail

 

$

(280

)

 

$

(84

)

 

$

(170

)

 

$

860

 

Generation a

 

618

 

 

252

 

 

731

 

 

(319

)

Corporate

 

(149

)

 

(141

)

 

(278

)

 

(276

)

Income from Continuing Operationsa

 

$

189

 

 

$

27

 

 

$

283

 

 

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