NRG Energy Authorizes $1 Bln Of Share Buy-back

(RTTNews) - NRG Energy Inc. (NRG) said that its board has authorized $1 billion for share repurchases, with the first $500 million program to begin immediately. Following the completion of the initial program, and as NRG progress towards the closing of the announced asset sales, NRG expects to execute the remaining $500 million of the $1 billion share repurchase program.

NRG reaffirmed its guidance range for 2018 with respect to Consolidated Adjusted EBITDA, Cash From Operations.

The company still expects Adjusted EBITDA to be in the range of $2.800 billion - $3.000 billion, and cash from operations of $2.015 billion - $2.215 billion for 2018.

NRG Energy, Inc. reported a full year 2017 loss available for common sStockholders widened to $2.15 billion or $6.79 per share from last year's $701 million or $2.22 per share hurt by a $1.8 billion impairment of fixed assets, goodwill, and investments of which $1.2 billion was related to the South Texas Project nuclear generation facility, primarily due to the revised outlook of future commodity prices.

Total operating revenues rose to $10.63 billion from $10.51 billion last year.