$NRG (NRG Energy, Inc.)

$NRG {{ '2016-10-19T11:57:15+0000' | timeago}} • Announcement

$NRG reported that its cash tender offer to purchase its 7.625% senior notes due 2018 for total cash consideration of $200MM was oversubscribed.

$NRG {{ '2017-07-12T11:51:33+0000' | timeago}} • Announcement

$NRG announced its transformation plan. This includes $1.065Bil recurring cost and margin improvements, $2.5-$4.0Bil targeted asset sale net cash proceeds, and removal of $13Bil total debt from balance sheet. The Business Review Committee unanimously recommended the Plan and it received the unanimous approval by $NRG BoD and management.

$NRG {{ '2017-05-02T12:56:15+0000' | timeago}} • Announcement

$NRG reaffirmed its FY17 adjusted EBITDA outlook of $2.7-2.9Bil and free cash flow before growth investments estimate of $0.8-1.0Bil. The company reaffirmed its 2017 cash from operations guidance of $1.355-1.555Bil.

$NRG {{ '2017-05-02T12:53:35+0000' | timeago}} • Announcement

$NRG slipped to a loss in 1Q17 from a profit last year, due to lower revenue. Net loss was $203MM or $0.52 per share compared to a profit of $47MM or $0.24 per share a year ago. Revenue dropped to $2.76Bil from $3.23Bil.

$NRG {{ '2017-05-02T12:46:31+0000' | timeago}} • Webcast

$NRG said advisory fees for 1Q17 was $25MM. The exact amount of fees for 2017 will depend on the outcome of the BRC process and certain other issues but currently the company has estimated it to be under $50MM.

$NRG {{ '2017-05-02T12:37:04+0000' | timeago}} • Webcast

$NRG had milder weather during 1Q17 and wholesale prices were higher QoQ. This naturally compresses gross margin. The company has good momentum in customer growth and retention. Retail remains strong. Although there was some compression due to weather and customer mix, $NRG believes it is strong and can maintain margins.

$NRG {{ '2017-04-24T20:57:01+0000' | timeago}} • Announcement

$NRG and Hawaiian Electric Company have reached a power purchase agreement (PPA) for Hawaiian Electric to buy electricity generated by the Kawailoa Solar facility on the North Shore of O’ahu.

$NRG {{ '2017-04-07T14:16:15+0000' | timeago}} • Announcement

$NRG's BoD declared a quarterly dividend on its common stock of $0.03 per share, or $0.12 per share on an annualized basis. The dividend is payable on May 15, 2017 to stockholders of record as of May 1, 2017.

$NRG {{ '2017-02-28T18:34:11+0000' | timeago}} • Webcast

$NRG said that it incurred non-cash impairment charges of $1.2Bil in 2016. The company had impaired a number of assets during 2016 for a total of approx. $300MM through 3Q. Given the prolonged low commodity price outlook, $NRG adjusted its long-term view of power prices, which resulted in additional non-cash impairment charge of about $900MM.

$NRG {{ '2017-02-28T13:41:58+0000' | timeago}} • Announcement

$NRG BoD declared a quarterly dividend on Class A and Class C common stock of $0.26 per share, on Feb.15, 2017. The dividend is payable on March 15, 2017, to stockholders of record as of March 1, 2017.

$NRG {{ '2017-02-28T13:35:46+0000' | timeago}} • Announcement

Integrated power company $NRG reported 4Q16 net loss of $126MM, compared to earnings of $12MM. For FY16, $NRG reported net loss of $15MM, or $0.58 per share, compared to earnings of $65MM, or $0.40 per share during FY15. Total operating revenues rose to $1.02Bil.

$NRG {{ '2017-02-13T13:37:41+0000' | timeago}} • Announcement

$NRG has entered into cooperation agreement with affiliates of each of Elliott Management Corporation and Bluescape Energy Partners LLC.  Pursuant to this, Howard Cosgrove and Edward R. Muller has announced their retirement from the $NRG BoD. The company has named Lawrence Coben, as Chairman of Board.

$NRG {{ '2017-02-01T13:39:13+0000' | timeago}} • Announcement

$NRG and Hawaiian Electric Co. reached power purchase agreements (PPAs) for Hawaiian Electric to buy electricity generated by two Oahu grid-scale solar facilities.

$NRG {{ '2017-01-20T14:16:31+0000' | timeago}} • Announcement

$NRG said it will reprice its $1.9Bil Term Loan B due June 2023. The transaction is leverage neutral and enhances free cash flow before growth via annual cash interest savings. $NRG expects interest savings over the remaining life of the loan to total about $60MM. Expected interest savings in 2017 are projected to be about $9MM.

$NRG {{ '2017-01-18T23:03:46+0000' | timeago}} • Announcement

The BoD of $NRG has declared a quarterly dividend on the Company's common stock of $0.03 per share, or $0.12 per share on an annualized basis. The dividend is payable on Feb. 15, 2017 to stockholders of record as of Feb. 1, 2017

$NRG {{ '2017-01-18T12:27:00+0000' | timeago}} • Announcement

$NRG received a notice of Schedule 13D filing by Elliott Associates and Bluescape Energy Partners. $NRG appreciates the group's interest in the company and is committed to creating shareholder value and welcomes input from all shareholders.

$NRG {{ '2017-01-10T13:15:34+0000' | timeago}} • Announcement

$NRG and JX Nippon Oil & Gas Exploration Corporation announced completion of construction of Petra Nova, the world's largest post-combustion carbon capture system, on-budget and on-schedule. Both companies expect to open the site in 1H17.

$NRG {{ '2016-11-04T13:17:25+0000' | timeago}} • Webcast

So far year-to-date in 2016, $NRG has grown a net of 40,000 customers, with over 70,000 of those being in Texas. The company is striving to balance EBITDA and customer count, and this growth year-over-year contributes to earnings as well.

$NRG {{ '2016-11-04T12:49:17+0000' | timeago}} • Webcast

Having repurchased the portion of its 2018 and 2021 notes following 3Q16-end, $NRG has completed its 2016 deleveraging objectives, driving corporate debt to $7.8Bil. Based on midpoint 2016 guidance, this gives an implied corporate debt to corporate EBITDA ratio of just under 4 times.

$NRG {{ '2016-11-04T12:38:59+0000' | timeago}} • Webcast

Through the first nine months of 2016, $NRG generated almost $2.8Bil in adjusted EBITDA and $1.1Bil of free cash flow before growth. The company has now completed over $1Bil in corporate debt reduction over the course of the last 12 months, with $777MM completed year-to-date and $246MM retired in 4Q15.

$NRG {{ '2016-11-04T12:30:48+0000' | timeago}} • Webcast

In Sept. 2016, $NRG was selected as the winning bidder for a 1.5 GW portfolio of utility-scale wind and solar assets at an initial purchase price of $129MM, with $59MM in earn-out potential. In Oct., the company completed the purchase of 29 MW of distributed generation assets for $68MM.

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