NRG Energy Q1 2023 net loss $1.3B on mark-to-market hedges; completes Vivint acquisition

NRG ENERGY, INC.

2023-Q1 EPS reported -$5.82 revenue$7,722,000,000

Net loss of $1.3B ($5.82/share) vs net income of $1.736B in Q1 2022; Adjusted EBITDA rose to $646M from $536M.
Closed $2.609B cash acquisition of Vivint Smart Home on March 10; Vivint contributed $73M Adjusted EBITDA in March.
Updated 2023 guidance: Adjusted EBITDA $3.01B-$3.25B; FCFbG $1.62B-$1.86B, reflecting Vivint and harmonized definitions.
Sale of Astoria land for $209M net proceeds closed Jan 6; W.A. Parish Unit 8 outage expected to return by end of Q2 2023.
Board declared quarterly dividend of $0.3775/share ($1.51 annual), payable May 15 to holders of record May 1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NRG ENERGY, INC. reported Quarter ended March 31, 2023 results: net income Net Loss of $1.3 billion, EPS $(5.82) per common share.

Period: Quarter ended March 31, 2023
Net income: Net Loss of $1.3 billion
EPS: $(5.82) per common share
Result: reported results

Exact text from the filing

NRG Energy, Inc. (NYSE: NRG) today reported a first quarter 2023 Net Loss of $1.3 billion, or $(5.82) per common share. Adjusted EBITDA for the first quarter was $646 million, Net Cash Used by Operating Activities was $1.6 billion, and Free Cash Flow Before Growth (FCFbG) was $203 million.

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Source: SEC EDGAR

accession 0001013871-23-000009

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