Aug 4, 2011
NRG Energy (NYSE:NRG) reported Q2 EPS of $2.53, which may not be comparable to consensus estimates of $0.39 per share. Revenues for the quarter rose 6.8% year-over-year to $2.28 billion, missing consensus estimates of $2.43 billion.
The company is increasing its share purchases by an additional $250 million.
David Crane, NRG President and Chief Executive Officer commented, "Our relentless focus on execution across the Company has resulted in solid financial results for the second quarter, enabling the Company to generate substantial free cash flow even after investing close to $700 million year-to-date in our exciting growth projects. We are in a good position now to complete the simplification of our capital structure in a way that allows the Company to optimize the allocation of capital for the benefit of all of its stakeholders."
NRG Energy has a potential upside of 13.1% based on a current price of $23.66 and an average consensus analyst price target of $26.75.
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