By Dean Seal
NRG Energy boosted its earnings in the first quarter as revenue surged on gains across its regions and segments.
The power provider posted a profit of $750 million, or $3.61 a share, compared with $511 million, or $2.31 a share, in the same quarter a year earlier.
Stripping out one-time items, adjusted earnings were $2.68 a share. Analysts polled by FactSet had been expecting $1.75 a share.
Revenue jumped 16% to $8.59 billion, topping analyst forecasts for $7.92 billion, according to FactSet.
NRG's retail energy business delivered strong margins and its generation fleet had high availability. Its smart-home segment performed better than expected, with 6% more customers and 4% wider margins, as well as record-high 90% retention.
The strong results come after the company said it will acquire a portfolio of natural gas generation facilities and a power plant platform from LS Power in a $12 billion deal.
Shares were up 7.4% at $128.10 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 12, 2025 07:43 ET (11:43 GMT)
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