NRG Energy reports Q1 EPS $2.31 vs. ($5.82) last year

Reports Q1 revenue $ $7.43B, consensus $ $7.51B .NRG Energy reported first quarter 2024 Net Income of $511M. Adjusted EBITDA for the first quarter was $849M Cash Provided by Operating Activities was $267M, and Free Cash Flow Before Growth Investments was $(40M) Cash Provided by Operating Activities and FCFbG for the first quarter were primarily impacted by annual incentive payments, in addition to payment of Vivint Smart Home interest and seasonal inventory buildup in anticipation of the summer selling season. “NRG continued to deliver exceptional operating and financial results during the first quarter of 2024,” said Larry Coben, NRG Chair, Interim President and Chief Executive Officer. “We are even more optimistic about the competitive energy market outlook and Smart Home adoption, and remain committed to executing our long-term strategy and capital allocation program.”