NRG Energy, Inc.（紐約證券交易所代碼：NRG）的股票在公司公佈2024年第四季度業績後上漲，儘管結果好壞參半。 NRG報告其收入同比增長1.3%，達到68.58億美元，低於市場預期的75.9億美元。調整後每股收益爲1.52美元，高於市場預期的1.29美元。 “NRG度過了輝煌的一年，執行了所有戰略優先事項。我們的調整後每股收益超出了上調後的指導範圍，我們通過與Renew Home和Google Cloud的合作，宣佈了首個規模化的住宅虛擬發電廠，並兌現了資本分配承諾，”NRG董事長、總裁兼首席執行官Larry Coben說道。 本季度運營現金流爲9.52億美元，而去年同期爲2.41億美元。扣除增長投資前的自由現金流爲6.24億美元，全年合計爲20.65億美元。 調整後的息稅折舊攤銷前利潤同比增長4.7%，達到9.02億美元，利潤率同比擴展43個基點，達到13.2%。 截至12月31日，NRG的無限制現金爲10億美元，信貸設施下可用金額爲45億美元，總流動資金爲54億美元。 2024年，公司向股東返還了126.3億美元，其中包括9.25億美元的股票回購，高於目標的1億美元，和3.38億美元的股息。 NRG執行了3.42億美元的負債管理，並提前一年實現了其2.50倍-2.75倍淨負債與調整後息稅折舊攤銷前利潤的目標。 此外，NRG能源、GE Vernova和TIC - 工業公司啓動了一項基於美國的合資企業，加速電力生成以滿足不斷增長的計算和生成AI需求。該合作利用電力生成、製造和建設的專業知識來簡化開發並擴展容量。 該合資企業計劃開發4個以上項目，總計5GW的天然氣電力用於ERCOT和PJM，其中1.2GW將於2029年使用GE Vernova 7HA渦輪機啓動。其他項目將在2032年之前上線，未來有可能擴展到全國10-15GW。 NRG還與Menlo Equities和PowLan簽署了意向書，以提供400兆瓦的零售電力，最早於2026年擴展到6.5GW。定價將反映場地價值和NRG的供應優化專長。 2025年指導：公司重申了其2025年指導，強化其增長戰略和資本分配框架。 NRG預測調整後每股收益爲6.75至7.75美元，高於市場預期的7.37美元，調整後的息稅折舊攤銷前利潤爲37.25億至39.75億美元。 股價走勢：在週三的最後一次檢查中，NRG的股價上漲了7.13%，達到109.74美元。

以上內容來自Benzinga Earnings專欄，原文如下：

NRG Energy, Inc. (NYSE:NRG) stock is trading higher after the company reported mixed fourth-quarter 2024 results.

NRG reported a revenue increase of 1.3% year-over-year to $6.858 billion, missing the consensus of $7.59 billion. Adjusted EPS stood at $1.52, beating the consensus of $1.29.

“NRG had a stellar year, executing across all our strategic priorities. Our Adjusted EPS exceeded the top end of raised guidance, we announced the first-of-its-kind residential VPP of scale through our Renew Home and Google Cloud partnerships, and we delivered on our capital allocation commitments,” said Larry Coben, NRG Chair, President and Chief Executive Officer.

Operating cash flow for the quarter was $952 million, compared to $241 million a year ago. Free Cash Flow Before Growth Investments was $624 million, and the fiscal year totaled $2.065 billion.

Adjusted EBITDA rose 4.7% YoY to $902 million, and the margin expanded 43 bps YoY to 13.2%.

As of Dec. 31,, NRG’s unrestricted cash was $1.0 billion, and $4.5 billion was available under the credit facilities. Total liquidity was $5.4 billion.

In 2024, the company returned $1.263 billion to shareholders, including $925 million in share repurchases—$100 million above target—and $338 million in dividends.

NGR executed $342 million in liability management and achieved its 2.50x – 2.75x Net Debt to Adjusted EBITDA target a full year ahead of schedule.

Additionally, NRG Energy, GE Vernova, and TIC – The Industrial Company launched a U.S.-based venture to accelerate electricity generation for the growing computing and GenAI demand. This collaboration leverages expertise in power generation, manufacturing, and construction to streamline development and expand capacity.

The venture plans to develop 4+ projects totaling 5GW of natural gas power for ERCOT & PJM, with 1.2GW set to launch in 2029 using GE Vernova 7HA turbines. Additional projects will come online through 2032, with potential expansion to 10-15GW nationwide.

NRG also signed LOIs with Menlo Equities and PowLan to provide 400MW of retail power, scalable to 6.5GW, starting in 2026. Pricing will reflect site value and NRG’s supply optimization expertise.

2025 Guidance: The company reaffirmed its 2025 guidance, reinforcing its growth strategy and capital allocation framework.

NRG sees Adjusted EPS of $6.75-$7.75 versus the $7.37 consensus and Adjusted EBITDA of $3.725 billion—$3.975 billion.

Price Action: NRG shares are trading higher by 7.13% at $109.74 at Wednesday’s last check.

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