NRG Energy Inc's stock fell sharply during intraday trading on Thursday, plummeting 5.02% as the company reported disappointing full-year 2024 earnings results that missed analysts' expectations.
The electric utility company posted revenue of $28.1 billion for 2024, down 2.4% year-over-year and missing estimates by 5.5%. Earnings per share of $5.14 also significantly lagged behind forecasts, missing by 23%.
While NRG achieved a profit margin of 3.8% after recording a net loss in 2023, analysts had been anticipating stronger financial performance. The company pointed to lower expenses as the driver behind returning to profitability, but revenue growth appears to be sluggish compared to expectations for the broader electric utilities industry.
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