NRG Energy (NRG) PT Raised to $51 at Guggenheim

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NRG Energy, Inc. Reports Third Quarter Results

November 2, 2023 6:59 AM EDT

Increases 2023 Share Repurchases to $1.15 Billion

Increases 2023 Guidance

Initiates Strong 2024 Financial Guidance Above 2023 Investor Day Plan

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... More

NRG Completes Sale of its Interest in South Texas Project

November 1, 2023 9:53 AM EDT

Transaction unlocks significant shareholder value by optimizing portfolio

HOUSTON--(BUSINESS WIRE)-- NRG Energy, Inc. (NYSE: NRG) announced today its subsidiaries Texas Genco LP LLC and Texas Genco GP LLC have completed the sale of NRG South Texas LP, which owns a 44% interest in the South Texas Project Electric Generating Station (STP), to Constellation for $1.75 billion.

STP is a 2,645 MW nuclear facility located about 90 miles southwest of Houston in Bay City, Texas. The 44% interest represented approximately 1,100 MWs of output. The sale received final regulatory approval from the Nuclear Regulatory... More