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NRG (NRG) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
NRG Energy's topline declined in the third quarter due to weak Texas prices, but strong demand and growth in other regions should support future growth. Margins are expected to improve beyond 2024 due to operational enhancements and the Virtual Power Plant project, making NRG a strong long-term buy. Strategic partnerships with Renew Home and Google will enhance NRG's market position in residential renewable energy, driving long-term revenue growth.
NRG offers investors exposure to the rapidly growing Texas market while the company also diversifies geographically in other regions. Despite Q3 earnings missing estimates, NRG's raised guidance and optimistic 2025 projections point to sustained growth opportunities and efficiency improvements. I rate NRG a Buy due to its enviable market position, growing dividend, and potential for 7-10% annual share price appreciation over the coming years.
NRG Energy Inc. has shown strong performance in 2024, with significant earnings growth, increased cash holdings, and a robust share repurchase plan. The company updated its guidance, projecting higher adjusted EPS and introducing new financial metrics, enhancing transparency and performance insight. Despite positive earnings, NRG's valuation is a concern, trading above peers and historical levels, posing potential risks in a market downturn.
NRG Energy, Inc. (NYSE:NRG ) Q3 2024 Earnings Conference Call November 8, 2024 9:00 AM ET Company Participants Kevin Cole - Head of Treasury and Investor Relations Larry Coben - Chairman and Chief Executive Officer Bruce Chung - Chief Financial Officer Rasesh Patel - Head of NRG Consumer Rob Gaudette - Executive Vice President of NRG Business Conference Call Participants Shahriar Pourreza - Guggenheim Partners Julien Dumoulin-Smith - Jefferies Angie Storozynski - Seaport Michael Sullivan - Wolfe Research David Arcaro - Morgan Stanley Operator Good day. Thank you for standing by.
NRG's third-quarter 2024 earnings increase year over year, while revenues decrease. Adjusted EBITDA also increases during the same period.
NRG Energy (NRG) came out with quarterly earnings of $1.85 per share, missing the Zacks Consensus Estimate of $2.05 per share. This compares to earnings of $1.62 per share a year ago.
NRG Energy beat third-quarter core profit estimates on Friday due to lower supply costs across its service territories, and raised its 2024 profit outlook, sending its shares up over 3% before the bell.
NRG Energy, Inc. NRG will release earnings results for its third quarter, before the opening bell on Friday, Nov. 8.
NRG's third-quarter results are expected to continue to benefit from Vivint Smart Home integration, share repurchases and debt reduction initiatives.
In the latest trading session, NRG Energy (NRG) closed at $88.05, marking a +1.53% move from the previous day.