NRG Energy Earnings Cheat Sheet: Feels Japan Impact As Profit and Sales Decline

S&P 500 (NYSE:SPY) component NRG Energy, Inc. (NYSE:NRG) swung to a loss in the first quarter, missing analysts’ forecast. NRG Energy, Inc. owns and operates power generation facilities and is involved in the transacting in trading of fuel and transportation services and related products.

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NRG Energy Earnings Cheat Sheet for the First Quarter

Results: Swung to a loss of $260 million ($1.06/diluted share) in the quarter. The electric utilities company had net income of $58 million or 22 cents per share in the year earlier quarter.

Revenue: Fell 9.9% to $2 billion YoY.

Actual vs. Wall St. Expectations: NRG fell short of the mean analyst estimate of 11 cents/share. Estimates ranged from a loss of 14 cents per share to a profit of 35 cents per share.

Quoting Management: “The impact of the tragic events in Japan on STP three & four have drawn attention away from the strong operational performance we achieved on both the generation and the retail side of our businesses during the first quarter, surmounting both the normal winter challenges and the extraordinary weather events which occurred in Texas in early February,” commented David Crane, NRG President and Chief Executive Officer. “During the quarter we made significant strides, in particular, on our solar development program with financing completed and construction begun on some of our biggest projects, positioning NRG to become the largest owner and operator of solar generation in the United States in the near term.”

Competitors to Watch: Dynegy Inc. (NYSE:DYN), Constellation Energy Group, Inc. (NYSE:CEG), The AES Corporation (NYSE:AES), Genon Energy Inc (NYSE:GEN), Calpine Corporation (NYSE:CPN), Edison International (NYSE:EIX), NextEra Energy, Inc. (NYSE:NEE), Xcel Energy Inc. (NYSE:XEL), The Southern Company (NYSE:SO), and Exelon Corporation (NYSE:EXC)

Stock Performance: Shares of NRG are trading at $23.81 as of May 5, 2011 at 7:50 AM ET, unchanged from the previous close.


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