Financial Data and Key Metrics - Adjusted EBITDA for Q2 2024 was $935 million, a 14% YoY increase, bringing YTD adjusted EBITDA to $1.784 billion, up 22% YoY [7] - Free cash flow before growth was $663 million, exceeding prior year results by $238 million [12] - The company reaffirmed its 2024 guidance ranges, trending toward the upper end, with adjusted EBITDA expected to be between $3.3 billion and $3.55 billion, and free cash flow before growth between $1.825 billion and $2.075 billion [16] Business Line Performance - Home energy subscribers increased by 8% with stable margins, while smart home subscribers grew by 5% with a 7% increase in revenue [7] - The East/West/Services/Other segments produced $282 million in adjusted EBITDA, a $184 million increase YoY, driven by higher subscriber counts and lower retail supply costs [12] - Texas adjusted EBITDA was $452 million, slightly down YoY due to higher maintenance costs and the impact of asset sales [13] - The smart home business generated $201 million in adjusted EBITDA, with a 5% increase in subscribers and 4% growth in service margins [15] Market Performance - Texas experienced over 3% weather-normalized load growth in H1 2024, with ERCOT projecting more than 60 gigawatts of growth through 2030, driven by data centers and large load customers [9] - The company is advancing 1.5 gigawatts of brownfield natural gas development in Texas, with applications submitted to the Texas Energy Fund [10] Strategic Direction and Industry Competition - The company is focused on delivering shareholder value through customer-centric energy and smart home solutions, with a strong emphasis on electrification trends and GenAI data center growth [4][6] - NRG is leveraging its integrated platform to stabilize near-term earnings while capturing medium- to long-term growth opportunities [5] - The company is progressing on its Virtual Power Plant offering and expects to share more details by Q3 2024 [7] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's strategic positioning, citing a structural long-term tightening in power supply and demand [4] - The company is well-prepared for seasonal demand, with 97% reliability during Hurricane Beryl and no storm-induced outages [8] - Management highlighted the potential for significant load growth in Texas and the broader industry, driven by on-shoring and data center expansion [9] Other Important Information - The company completed $176 million of its $825 million share repurchase program for 2024 and announced the sale of Airtron HVAC, expected to yield $400 million in net proceeds [17][18] - NRG has $441 million of unallocated capital available for 2024, with plans to evaluate its use after the Airtron sale closes [18] Q&A Session Summary Question: Potential for a second Texas Energy Fund tranche and newbuild bandwidth [23] - Management noted that while the state has discussed a second tranche, the focus is on shovel-ready projects, with only 12 gigawatts of real projects currently identified [24] - The company has bandwidth for additional generation if customer demand and portfolio strategy align, but lead times for development are several years [26] Question: Transition to EPS disclosures [27] - The company plans to transition to EPS disclosures by Q3 2024, with no immediate changes to guidance [27] Question: Texas power curve pullback and retail business impact [32] - Management attributed the curve pullback to a warm but not pricey summer, with long-term bullishness on the market [33] - The retail business performed strongly, with 8% subscriber growth and double-digit volume growth, despite regulatory changes in some states [34] Question: Newbuild strategy and long-term contracts [35] - NRG emphasized that its newbuild projects are not speculative but designed to support its retail portfolio, with potential for long-term contracts if customer demand aligns [36] Question: Data center opportunity and HVAC divestiture proceeds [41][44] - The company is conducting a strategic review of its data center opportunities and expects to share more details by year-end [43] - Proceeds from the HVAC divestiture will be allocated in line with the company's capital allocation principles [44] Question: PJM auction outcome and newbuild potential [48][64] - The PJM auction outcome is supportive of generation but unlikely to spur immediate newbuild activity due to supply chain and interconnection challenges [49][65] - New gas plants in PJM face significant lead times, with no new projects expected before 2030 [67]

NRG Energy, Inc. (NRG) reported second-quarter 2024 earnings of $1.48 per share, which beat the Zacks Consensus Estimate of $1.30 by 13.9%. The bottom line also increased 34.5% from the year-ago quarter's figure of $1.10. Revenues Total revenues were $6.66 billion, which beat the Zacks Consensus Estimate of $4.48 billion by 48.6%. The top line improved 4.9% from the prior-year quarter's level of $6.35 billion. Highlights of the Release The company recorded adjusted EBITDA of $935 million, up 14.2% from $819 ...

NRG Energy (NRG) came out with quarterly earnings of $1.48 per share, beating the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.10 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 13.85%. A quarter ago, it was expected that this power company would post earnings of $0.92 per share when it actually produced earnings of $0.80, delivering a surprise of -13.04%. Over the last four quarters, the compan ...

Exhibit 99.1 NRG Energy, Inc. Reports Second Quarter Results and Reaffirms 2024 Financial Guidance • Strong second quarter financial and operating performance resulting in GAAP Net Income of $738 million and Adjusted EBITDA of $935 million • Completed comprehensive preventative maintenance program for ERCOT fleet, well-prepared going into summer season and beyond • Announcing agreement to sell Airtron HVAC business at an accretive multiple • Submitted applications to Texas Energy Fund for 1.5 GW of shovel-r ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about NRG Energy (NRG) . NRG currently has an average brokerage recomm ...

NRG Energy, Inc. (NRG) is scheduled to release second-quarter 2024 results on Aug 8, before market open. The company delivered a negative earnings surprise of 13% in the last reported quarter. Let's discuss the factors that are likely to be reflected in the upcoming quarterly results. Factors to Consider NRG Energy's earnings are expected to have continued to benefit from the integration of Vivint Smart Home service. This initiative might have increased margin per customer through a higher take rate of prod ...

The market expects NRG Energy (NRG) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on August 8, 2024, might help the stock move higher if these key numbers are bett ...

For the full year, the Zacks Consensus Estimates project earnings of $6.61 per share and a revenue of $25.28 billion, demonstrating changes of +53.01% and -12.31%, respectively, from the preceding year. The power company's stock has dropped by 4.52% in the past month, falling short of the Utilities sector's gain of 2.98% and the S&P 500's gain of 0.1%. It's also important for investors to be aware of any recent modifications to analyst estimates for NRG Energy. These recent revisions tend to reflect the evo ...

The investment community will be paying close attention to the earnings performance of NRG Energy in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company is forecasted to report an EPS of $1.38, showcasing a 25.45% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.59 billion, indicating a 27.75% decline compared to the corresponding quarter of the prior year. Research i ...

LOS ANGELES, July 19, 2024 /PRNewswire/ -- Platinum Equity announced today that the sale of the Hunterstown power generation facility and related assets to LS Power has been completed. Financial terms were not disclosed. Located in Gettysburg, Pennsylvania, the Hunterstown facility is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed) 500kV grid, with enough to supply more than 600,000 homes. "Hunterstown is a good example of how Platinum can use its playbook to cre ...