NRG Yield Swings To Profit In Q1, Names Christopher Sotos CEO

(RTTNews) - NRG Yield Inc. (NYLD) Thursday announced first quarter net profit of $2 million compared to net loss of $20 million a year ago. Net profit attributable to the company was $5 million compared to a net loss of $5 million in the prior year.

Revenue for the quarter increased to $220 million from $200 million a year ago.

The company appointed Christopher Sotos as President and Chief Executive Officer.

NRG Yield reaffirmed its full year 2016 guidance for adjusted EBITDA of $805 million. Further, it reaffirmed the target of $0.25 per share quarterly dividend by the fourth quarter.