NRG Q2 net income $738M, Adj. EBITDA $935M; Airtron sale for $500M; guidance reaffirmed

NRG ENERGY, INC.

2024-Q2 EPS reported $5.68 revenue$14,088,000,000

GAAP net income $738M vs $308M YoY; Adjusted EBITDA $935M vs $819M YoY; FCFbG $663M.
Agreed to sell Airtron HVAC for $500M (8.6x 2023 Adj. EBITDA); expected close by end of 2024.
YTD share repurchases $176M; bought back $251M principal of convertible notes; repaid $600M in notes.
Texas segment Adj. EBITDA $452M (-$52M YoY) due to asset sales and planned maintenance; East segment $209M (+$132M YoY).
FY2024 guidance reaffirmed: Adj. EBITDA $3.3-$3.55B, FCFbG $1.825-$2.075B; quarterly dividend $0.4075/share.

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