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NRG Energy Inc. (NRG) delivers innovative energy solutions through retail power supply, generation assets, and smart technologies. This dedicated news hub provides investors and stakeholders with essential updates on the company's strategic direction and market position.
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NRG Energy today announced an upcoming Investor Day, scheduled for June 17, 2021, at 09:00 AM Eastern Time. The event will be hosted virtually and feature a live webcast, along with presentation materials available on NRG’s website at www.nrg.com. For those unable to attend, the event will be archived on the site for later viewing.
NRG is a Fortune 500 company that focuses on customer-centered energy solutions, generating electricity and providing natural gas across the U.S. and Canada.
NRG Energy reported a net loss of $(82) million, or $(0.33) per diluted share, for Q1 2021, primarily impacted by Winter Storm Uri, which resulted in a $967 million loss. Adjusted EBITDA rose to $567 million, compared to $349 million in Q1 2020, bolstered by the acquisition of Direct Energy and reduced supply costs. The company’s liquidity stood at $3.2 billion as of March 31, 2021, down from $3.8 billion at the end of 2020. NRG reinstated its 2021 guidance for Adjusted EBITDA between $2,400 - $2,600 million. A dividend of $0.325 per share was declared, payable on May 17, 2021.
NRG Energy (NYSE:NRG) has appointed Alberto Fornaro as the new Executive Vice President and Chief Financial Officer, effective June 1, 2021. He succeeds Gaetan Frotte, who served as interim CFO since February 2021. Fornaro brings over 30 years of finance experience, including roles at Coupang and International Gaming Technology. NRG's President and CEO, Mauricio Gutierrez, expressed enthusiasm about Fornaro's leadership abilities, noting the strategic relevance of this transition for the company in fostering customer-centered energy solutions.
NRG Energy, Inc. (NYSE:NRG) is set to announce its First Quarter 2021 financial results on May 6, 2021. The company's management will present these results during a conference call and webcast scheduled for 9:00 a.m. Eastern. A live webcast, along with the presentation materials, will be available on NRG's website. NRG serves approximately 6 million customers through a variety of retail brands and aims to promote competitive energy markets while working toward a sustainable energy future.
NRG Energy, Inc. (NYSE:NRG) has declared a quarterly dividend of $0.325 per share, equivalent to an annualized amount of $1.30. The dividend is set to be paid on May 17, 2021, to stockholders on record by May 3, 2021. NRG is a leading energy provider, generating electricity and offering energy solutions across the U.S. and Canada. Focused on sustainability and innovative solutions, NRG aims to enhance customer experience while supporting competitive energy markets.
NRG Energy announced an interim financial update due to the significant impact of Winter Storm Uri on the ERCOT system. The company has withdrawn its 2021 financial guidance, citing unpredictable regulatory changes and an estimated $750 million loss. The winter storm caused a peak demand of 77 GWs in February 2021 and led NRG to implement demand response programs. As of March 15, 2021, NRG reported $3.3 billion in available liquidity. The full financial ramifications remain uncertain amid ongoing market volatility and regulatory developments.
NRG reported 2020 income from continuing operations at $510 million, or $2.07 per diluted share. Adjusted EBITDA reached $2.0 billion, with cash from operations at $1.8 billion. A key event was the completion of the Direct Energy acquisition and the planned sale of 4.8 GW of fossil generating assets for $760 million. NRG's liquidity totaled $3.8 billion as of February 26, 2021, an increase from 2019. The company anticipates its 2021 Adjusted EBITDA to be in the range of $2,400-$2,600 million while increasing its quarterly dividend by 8% to $0.325 per share.
NRG Energy (NYSE: NRG) has committed $10 million to aid Texans impacted by Winter Storm Uri, consisting of $3 million in cash donations and $7 million for in-kind services and customer support. The relief will target immediate community needs, financial relief for customers, and assistance for affected employees. NRG's retail brands will pause disconnections and waive fees for impacted customers. In addition, the company has allocated funding for the NRG Employee Relief Fund to support employees facing financial hardships due to the storm. NRG emphasizes its commitment to community recovery.
NRG Energy (NYSE:NRG) announced a change in the reporting date for its Full Year and Fourth Quarter 2020 financial results. Originally scheduled for February 25, 2021, the results will now be reported on March 1, 2021, at 9:00 a.m. Eastern due to a scheduling conflict with NRG's President and CEO, who will be addressing the Texas Legislature. Investors can access the live webcast of the conference call and presentation materials on NRG’s website.
NRG Energy (NYSE: NRG) announces that Kirkland Andrews is resigning as Chief Financial Officer (CFO), effective February 4, 2021, though he will remain as an advisor until February 19, 2021. Gaetan Frotte, Senior Vice President and Treasurer, has been appointed as Interim CFO. NRG’s President, Mauricio Gutierrez, praised Andrews for his contributions to the company’s financial stability and strategic flexibility. NRG will seek a permanent CFO while Frotte continues as Treasurer until a replacement is found.
