NRG Q1 Results Climb, Confirms FY25 View; To Buy Power Portfolio In $12 Bln Deal; Stock Up

NRG Energy

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(RTTNews) - NRG Energy, Inc. (NRG) reported Monday higher profit and revenues in its first quarter, and maintained fiscal 2025 outlook.

Separately, NRG said it has entered into a definitive agreement with LS Power Equity Advisors, LLC to acquire a power portfolio in a cash and stock transaction valued at around $12.0 billion Enterprise Value.

In pre-market activity on the NYSE, the NRG shares were gaining around 8.9 percent to trade at $130.00.

The planned power portfolio acquisition includes 13 GW of premier natural gas-fired generation facilities and a commercial and industrial virtual power plant or C&I VPP business with 6 GW of capacity.

The company said the transaction has a purchase price consisting of 24.25 million shares of NRG common stock, $6.4 billion in cash, and the assumption of $3.2 billion in debt, in addition to working capital.

The Company expects to realize net present value tax benefits of approximately $0.4 billion, generated directly as a result of the transaction.

The deal is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals.

The 18 natural gas-fired facilities totaling approximately 13 GW are located across nine states. In the first quarter, NRG Energy's net income grew to $750 million or $3.70 per basic share from last year's $511 million or $2.36 per basic share.

Adjusted net income was $531 million or $2.68 per share, compared to $305 million or $1.46 per share a year ago.

The Wall Street analysts on average expected $1.67 per share for the quarter. Analysts estimate typically exclude special items.

Revenue for the quarter grew to $8.59 billion from last year's $7.43 billion. The Street expected revenues of $8.28 billion.

Looking ahead for fiscal 2025, the company continues to expect adjusted net income of $1.33 billion to $1.53 billion and adjusted earnings per share of $6.75 to $7.75.

Analysts expect earnings of $7.47 per share for the year.

In 2025, the company plans to return $1.3 billion in share repurchases and common stock dividends of approximately $345 million.

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