NRG Energy Reports Annual Net Loss, Revenue Drops; Backs 2024 Earnings Outlook

(RTTNews) - NRG Energy, Inc. (NRG), an energy provider, on Wednesday reported net loss for the full year as a result of unrealized non-cash mark-to-market losses on economic hedges due to large movements in natural gas and power prices.

For the 12 months, the company registered net loss of $256 million or $1.12 per share, compared with profit of $1.221 billion or $5.17 per share last year.

Pre-tax loss was at $213 million, compared with profit of $1.663 billion in 2022.

Operating income dropped to were $384 million from $2.018 billion in the previous year.

Excluding items, EBITDA surged to $3.282 billion from last year's $1.865 billion.

Revenue was $28.823 billion, down from $31.543 billion last year.

Looking ahead to the full year, the company has reaffirmed its net profit outlook of $750 million to $1 billion, with adjusted EBITDA of $3.300 billion to $3.550 billion.