NYSE$NRG
NRG Energy Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
NRG Energy reported solid third quarter performance driven by strong financial and operational results, completed the sale of STP, increased share repurchase allocation, remained on track to achieve debt reduction target, and initiated strong 2024 financial guidance.
NRG Energy reported a solid third quarter with a Net Income of $343 million and Adjusted EBITDA of $973 million. The company is increasing the mid-point of its 2023 Adjusted EBITDA guidance by $95 million. NRG is increasing its 2023 share repurchase allocation from $997 million to $1.15 billion. The company plans to reduce debt by $1.4 billion in 2023.
- Solid third quarter performance with GAAP Net Income of $343 million and Adjusted EBITDA of $973 million; increasing mid-point of 2023 Adjusted EBITDA guidance by $95 million
- Completed sale of STP for $1.75 billion
- Increasing 2023 share repurchase allocation by 15% to $1.15 billion; executed $200 million of share repurchases to date and expect to complete the remaining $950 million through new accelerated share repurchase program
- On track to achieve 2023 debt reduction target of $1.4 billion; executed $800 million of debt reduction to date and expect to complete remaining $600 million by year-end
Headline financials
Revenue & EPS history
NRG Energy · Revenue · Quarterly
$7.95B
Revenue by segment
NRG Energy · $6.56B total across 2 segments · Q3 2023
- Texas$3.69B+17.2%56.2%
- East$2.88B—43.8%
Forward guidance
NRG is raising the mid-point of its 2023 Adjusted EBITDA guidance by $95 million and initiated strong 2024 financial guidance above its June 2023 Investor Day plan.
Tailwinds
- Raising the mid-point of its 2023 Adjusted EBITDA guidance by $95 million
- Initiating strong 2024 financial guidance above its June 2023 Investor Day plan
- 2023 Adjusted EBITDA guidance is between $3,150 million and $3,300 million
- 2023 Cash Provided by Operating Activities guidance is between $1,750 million and $1,900 million
- 2023 FCFbG guidance is between $1,725 million and $1,875 million
Headwinds
- Negative impacts of an earnings reduction from the sale of STP
- Increase in accruals as part of the Company's annual incentive plan reflecting the expected financial outperformance for the year
- 2024 Adjusted EBITDA guidance is between $3,300 million and $3,550 million
- 2024 Cash Provided by Operating Activities guidance is between $1,825 million and $2,075 million
- 2024 FCFbG guidance is between $1,825 million and $2,075 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.6%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+2.3%
Avg return
30 days after
44%
32 / 72 earnings
Positive
+26.3%
Q1 2025
Best reaction
-10.1%
Q1 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.3% | -13.0% | -17.9% | |
| Q4 2025 | -1.6% | +1.4% | -17.2% | |
| Q3 2025 | -2.3% | -6.0% | -5.9% | |
| Q1 2025 | +26.3% | +33.4% | +24.9% | |
| Q4 2024 | +10.6% | -2.1% | -7.1% | |
| Q3 2024 | -2.2% | -4.1% | +3.0% | |
| Q2 2024 | +11.4% | +13.6% | +6.2% | |
| Q1 2024 | -2.7% | +7.4% | -0.1% | |
| Q4 2023 | +2.4% | +6.8% | +25.3% | |
| Q3 2023 | +2.6% | +3.6% | +10.3% | |
| Q2 2023 | -0.8% | -2.3% | +2.2% | |
| Q1 2023 | -6.5% | -6.4% | -0.4% | |
| Q4 2022 | -4.5% | -4.9% | -12.1% | |
| Q3 2022 | -0.2% | +2.4% | -25.3% | |
| Q2 2022 | +2.9% | +2.6% | +11.0% | |
| Q1 2022 | +9.9% | +10.8% | +20.6% | |
| Q4 2021 | +3.1% | -0.8% | +0.5% | |
| Q3 2021 | -9.3% | -12.8% | -8.6% | |
| Q2 2021 | +5.2% | +3.4% | +8.8% | |
| Q1 2021 | -0.5% | -0.7% | -3.0% | |
| Q4 2020 | +7.6% | +9.1% | +3.3% | |
| Q3 2020 | -4.5% | -0.3% | +5.5% | |
| Q2 2020 | +2.1% | +4.0% | -0.5% | |
| Q1 2020 | -0.0% | -2.2% | +12.0% | |
| Q4 2019 | -5.2% | -5.0% | -15.7% | |
| Q3 2019 | -2.9% | -2.1% | -2.8% | |
| Q2 2019 | +3.5% | +0.0% | +11.2% | |
| Q1 2019 | -2.7% | -4.7% | -16.1% | |
| Q4 2018 | +2.9% | +1.8% | +3.6% | |
| Q3 2018 | -0.3% | +2.6% | +5.5% | |
| Q2 2018 | +2.2% | +7.2% | +10.9% | |
| Q1 2018 | +9.3% | +11.2% | +11.3% | |
| Q4 2017 | +7.8% | +13.0% | +18.1% | |
| Q3 2017 | +11.2% | +14.4% | +12.5% | |
| Q2 2017 | -0.1% | -0.9% | +1.4% | |
| Q1 2017 | -10.1% | -9.8% | +0.5% | |
| Q4 2016 | +0.5% | +3.2% | +9.5% | |
| Q3 2016 | +12.3% | +18.8% | +11.0% | |
| Q2 2016 | -5.7% | -5.9% | -8.1% | |
| Q1 2016 | +6.2% | — | — | |
| Q4 2015 | +1.6% | — | — | |
| Q3 2015 | +0.7% | — | — | |
| Q2 2015 | -10.1% | — | — | |
| Q1 2015 | +4.1% | — | — | |
| Q4 2014 | -5.6% | — | — | |
| Q3 2014 | +9.0% | — | — | |
| Q2 2014 | -1.6% | — | — | |
| Q1 2014 | +3.9% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | -2.8% | — | — | |
| Q2 2013 | -3.5% | — | — | |
| Q1 2013 | -1.5% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | -2.6% | — | — | |
| Q2 2012 | +6.9% | — | — | |
| Q1 2012 | -6.9% | — | — | |
| Q4 2010 | -2.8% | — | — | |
| Q4 2011 | -2.8% | — | — | |
| Q3 2011 | +2.5% | — | — | |
| Q2 2011 | -6.3% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q4 2007 | -5.2% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q2 2010 | -2.2% | — | — | |
| Q1 2009 | -3.0% | — | — | |
| Q1 2010 | +1.8% | — | — | |
| Q4 2009 | -5.2% | — | — | |
| Q3 2008 | +1.3% | — | — | |
| Q3 2009 | +1.3% | — | — | |
| Q2 2008 | -1.2% | — | — | |
| Q4 2008 | -1.2% | — | — | |
| Q2 2009 | -1.2% | — | — |
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