The company said it reported net income of $511 million and Adjusted EBITDA of $849 million for Q1 2024. In the same quarter of the prior year, it had a net loss of $(1,335) million and Adjusted EBITDA of $646 million.

1. 01

   The company said it reported net income of $511 million and Adjusted EBITDA of $849 million for Q1 2024. In the same quarter of the prior year, it had a net loss of $(1,335) million and Adjusted EBITDA of $646 million.

2. 02

   NRG reported Adjusted EBITDA for Q1 of $219 million in Texas, down $35 million from a year earlier, $351 million in East, $56 million in West/Services/Other and $223 million in Vivint Smart Home. The company cited lower Texas gross margin on hedges from mild winter weather as the reason for the Texas decline.

3. 03

   The company said cash provided by operating activities was $267 million for Q1, and Free Cash Flow Before Growth Investments (FCFbG) was $(40) million. It cited annual incentive payments, Vivint Smart Home interest payments and seasonal inventory buildup ahead of the summer selling season as factors affecting results.

4. 04

   The company said it concluded its $950 million accelerated share repurchase program in Q1 at an average price of $50.43 per share. It also said it intends to repurchase an additional $825 million of shares during 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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