NRG Energy Inc. (NYSE:NRG) is one of the high growth utility stocks to buy according to analysts.
On May 5, NRG Energy Inc. (NYSE:NRG) reiterated that demand for its product continues to grow despite a significant decrease in earnings in the first quarter
Pixabay/Public Domain Net income fell by $625 million to $125 million, attributed to unrealized non-cash losses from mark-to-market economic hedges. In addition, NRG Energy felt the brunt of lower natural gas prices compared to the same period last year. Adjusted net income came in at $308 million, down $223 million from last year’s same quarter.
Adjusted earnings per share totaled $1.49, compared to $2.68 in the same quarter last year. Amid a significant earnings decline, NRG Energy has reiterated its full-year guidance and expects adjusted net income of $1.685 billion to $2.115 billion. Adjusted earnings per share are expected to range between $7.90 and $9.90.