NRG Energy Inc. Earnings: Loss Narrows but Still Misses Analysts’ Forecasts

S&P 500 (NYSE:SPY) component NRG Energy Inc. (NYSE:NRG) reported its results for the first quarter. NRG Energy owns and operates power generation facilities and is involved in the transacting of fuel and transportation services and related products.

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NRG Energy Earnings Cheat Sheet for the First Quarter

Results: Loss narrowed to $206 million (loss of 92 cents per diluted share) from $260 million (loss of $1.06 per share) in the same quarter a year earlier.

Revenue: Fell 6.7% to $1.86 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: NRG Energy Inc. fell short of the mean analyst estimate of a loss of 11 cents per share. It fell short of the average revenue estimate of $2.2 billion.

Quoting Management: “While the Company’s performance for the quarter was weighed down by exceptionally mild weather and lower commodity prices generally, we have laid a strong foundation during the quarter for the Company to benefit over the balance of the year from the strengthening of fundamentals in several of our core commodity and capacity markets,” commented David Crane, NRG’s President and Chief Executive Officer.

Key Stats:

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the fourth quarter of the last fiscal year, it topped the mark by 13 cents, and in the third quarter of the last fiscal year, it was ahead by 8 cents.

Revenue fell last quarter after increasing in the previous quarter. Revenue rose 17.4% to $2.13 billion in the fourth quarter of the last fiscal year from the year earlier.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 15 cents a share to 10 cents over the last ninety days. The average estimate for the fiscal year is 78 cents per share, down from 91 cents ninety days ago.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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