NRG Energy, Inc. (NYSE:NRG) reported earnings of 24 cents in the first quarter of 2016, while the Zacks Consensus Estimate was a loss of 17 cents, resulting in a positive surprise of 241.2%. The company reported a loss of 37 cents in the year-ago quarter.
Revenues
NRG Energy's operating revenues of $3,229 million in the first quarter of 2016 lagged the Zacks Consensus Estimate of $3,580 million by 9.8% and decreased 15.7% from $3,829 million in the first quarter of 2015.
Highlights of the Release
Total operating costs and expenses in the first quarter of 2016 decreased to $2,785 million from $3,767 million a year ago.
The company’s operating income was $476 million in the first quarter of 2016, up sharply from $76 million in the year-ago quarter.
The company incurred $284 million of interest expenses compared with $301 million a year ago.
Financial Condition
As of Mar 31, 2016, NRG Energy had cash and cash equivalents of $1,659 million compared with $1,518 million as of Dec 31, 2015. The company’s long-term debt and capital leases (excluding current portion) were $18,677 million as of Mar 31, 2016, compared with $18,983 million as of Dec 31, 2015.
Total liquidity was $3,383 million as of Mar 31, 2016, compared with $3,305 million as of Dec 31, 2015.
In first-quarter 2016, NRG Energy’s net cash from operating activities was $554 million, up from $260 million in the prior-year quarter.
Capital expenditure during the first quarter of 2016 was $279 million, up 10.7% from $252 million in first-quarter 2015.
NRG Energy's free cash flow before growth investments in first-quarter 2016 was $249 million, down from $364 million in the year-ago period.
Guidance
For 2016, NRG Energy reiterated its adjusted EBITDA and free cash flow (before growth investments) guidance in the range of $3,000–$3,200 million and $1,000–$1,200 million, respectively.
Other Peer Releases
American Electric Power Co., Inc. (NYSE:AEP) reported first-quarter 2016 operating earnings of $1.02 per share, missing the Zacks Consensus Estimate of $1.06 by 3.8%.
Dominion Resources Inc. (NYSE:D) reported first-quarter 2016 operating earnings of 96 cents per share, in line with the Zacks Consensus Estimate.
DTE Energy Company (NYSE:DTE) reported first-quarter 2016 operating earnings per share of $1.52, in line with the Zacks Consensus Estimate
Zacks Rank
NRG Energy currently has a Zacks Rank #3 (Hold).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
AMER ELEC PWR (AEP): Free Stock Analysis Report
DTE ENERGY CO (DTE): Free Stock Analysis Report
DOMINION RES VA (D): Free Stock Analysis Report
NRG ENERGY INC (NRG): Free Stock Analysis Report
Original post
Zacks Investment Research