NRG Energy Turns To Profit In Q3; Cuts 2014 Adj. EBITDA View - Quick Facts

(RTTNews) - NRG Energy Inc. (NRG) reported that its third-quarter income available for common stockholders was $122 million or $0.37 per share, compared to a loss of $3 million or $0.01 per share in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.83 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter rose to $3.49 billion from $2.33 billion in the prior year quarter. Three analysts had consensus revenue estimate of $3.08 billion for the quarter.

NRG has narrowed the range of its Adjusted EBITDA guidance for 2013, while revising downward for 2014. This reduction in 2014 is primarily due to the decline in forward curves across all of its core Wholesale regions over the past few months as a result of the lack of scarcity pricing during the summer of 2013.

The company narrowed its 2013 Adjusted EBITDA Guidance to a range of $2.550 billion -$2.600 billion from the prior estimate of $2.550 billion - $2.700 billion.

The company now expects Adjusted EBITDA for 2014 to be in the range of $2.700 billion -$2.900 billion compared to prior estimate of $2.850 billion - $3.050 billion.