10-Q - NRG ENERGY, INC. (0001013871) (Filer)

Fri, Nov 8, 8:43 PM (25 days ago)

In the third quarter of 2024, NRG Energy, Inc. (NRG), reported revenues of $7,223 million, down from $7,946 million in Q3 2023, with a net loss of $767 million compared to a net income of $343 million in the same period last year. The decline in revenue was attributed to lower retail and energy revenues driven by decreased power prices and a reduction in load due to adverse weather conditions. Operating costs increased significantly, largely due to higher fuel and purchased energy costs, resulting in an operating loss of $812 million. Cash flow from operations improved to $1,354 million, a notable recovery from a negative $462 million in the prior year. The company achieved a gain on asset sales of $208 million from divesting its Airtron business. NRG's liquidity position strengthened to $6.4 billion, bolstered by increased cash and credit facilities. Looking ahead, NRG faces uncertainties related to regulatory changes and market dynamics, particularly in Texas, where new legislation affects retail pricing and market operations. The company continues to focus on debt reduction, with plans to utilize $335 million for this purpose in 2024, while also maintaining a robust share repurchase program.