Market Overview

NRG Energy, Inc. Reports Third Quarter 2019 Results, Announces Dividend Increase and Initiates 2020 Guidance

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  • Enhancing Long-Term Return of Capital Policy
  • Increasing 2020 annual dividend from $0.12/share to $1.20/share and targeting 7-9% annual growth
  • Executing current $250 million share repurchase authorization, announced Q2 2019
  • Narrowing 2019 guidance and initiating 2020 financial guidance

NRG Energy, Inc. (NYSE:NRG) today reported third quarter 2019 income from continuing operations of $374 million, or $1.45 per diluted common share and Adjusted EBITDA for the third quarter of $792 million.

"In the third quarter, our integrated platform continued to deliver stable results amid a volatile summer," said Mauricio Gutierrez, NRG President and Chief Executive Officer. "We continue to execute on our disciplined capital allocation principles, including increasing the dividend and enhancing our long-term return of capital policy."

Consolidated Financial Results a

 

Three Months Ended

 

Nine Months Ended

($ in millions)

 

9/30/19

 

9/30/18

 

9/30/19

 

9/30/18

Income from Continuing Operations

 

$

374

 

$

287

 

$

657

 

$

553

Cash provided by Continuing Operations

 

$

472

 

$

407

 

$

853

 

$

671

Adjusted EBITDA

 

$

792

 

$

651

 

$

1,593

 

$

1,503

Free Cash Flow Before Growth Investments (FCFbG)

 

$

433

 

$

553

 

$

637

 

$

769

a. In accordance with GAAP, 2018 results have been recast to reflect the discontinued operations of the South Central Portfolio, Clearway Energy, the Renewables Platform and Carlsbad Energy Center.

Segments Results

Table 1: Income/(Loss) from Continuing Operations

($ in millions)

 

Three Months Ended

 

Nine Months Ended

Segment

 

9/30/19

 

9/30/18

 

9/30/19

 

9/30/18

Retail

 

$

422

 

$

(128)

 

$

252

 

$

732

Generation a

 

63

 

574

 

794

 

255

Corporate

 

(111)

 

(159)

 

(389)

 

(434)

Income from Continuing Operations a

 

$

374

 

$

287

 

$

657

 

$

553

a. In accordance with GAAP, 2018 results have been recast to reflect the discontinued operations of the South Central Portfolio, Clearway Energy, the Renewables Platform and Carlsbad Energy Center.

 

Table 2: Adjusted EBITDA

($ in millions)

 

Three Months Ended

 

Nine Months Ended

Segment

 

9/30/19

 

9/30/18

 

9/30/19

 

9/30/18

Retail

 

$

269

 

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