NRG Energy Q2 Profit Falls; Cuts FY13 Adjusted EBITDA View - Quick Facts

(RTTNews) - NRG Energy, Inc. (NRG) reported a significant drop in second-quarter net income available for common stockholders to $127 million, or $0.39 a share, from last year's $248 million, or $1.08 a share. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.23 for the quarter. Analysts' estimates typically exclude one-time items.

However, total operating revenues were $2.93 billion, an increase compared with $2.17 billion reported a year back. Analysts estimated revenues of $2.29 billion for the quarter.

The company recorded quarterly adjusted EBITDA of $594 million, with Wholesale contributing $393 million, Retail contributing $140 million and NRG Yield contributing $61 million.

For 2013, the company revised its adjusted EBITDA forecast to $2.55 billion - $2.7 billion, from its prior $2.615 billion - $2.815 billion range. In addition, NRG Energy confirmed its 2014 adjusted EBITDA of $2.85 billion - $3.05 billion.