NRG Q3 adj EBITDA $1,055M, raises 2024 guidance, initiates 2025 outlook with 10%+ adj EPS growth

NRG ENERGY, INC.

2024-Q3 EPS reported $2.02 revenue$21,311,000,000

Q3 GAAP net loss $767M due to mark-to-market losses; adj EBITDA $1,055M (+7% YoY), adj EPS $1.90 (vs $1.57), FCFbG $815M (+$460M YoY).
Raised 2024 adj EBITDA guidance to $3,655-$3,805M; adj EPS guidance to $5.95-$6.75; FCFbG guidance to $1,975-$2,125M.
Initiated 2025 guidance targeting >10% adj EPS growth; 2025 share repurchases $1.355B; buyback authorization increased to $3.7B.
Partnered with Renew Home and Google Cloud to develop 1 GW virtual power plant in Texas; selected for 415 MW T.H. Wharton peaking facility.
Introduced Adjusted Net Income ($393M Q3) and Adjusted EPS; recast customer acquisition cost amortization into depreciation and amortization.

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