NRG ENERGY, INC

(NRG)
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Delayed Nyse  -  04:00 2022-08-09 pm EDT
38.33 USD   -1.06%
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NRG Energy : Second Quarter 2022 Earnings Presentation

08/04/2022 | 07:38am EDT

NRG Energy Inc.

Second Quarter 2022 Earnings Presentation

August 04, 2022

Safe Harbor

Forward-Looking Statements

In addition to historical information, the information presented in this presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as "may," "should," "could," "objective," "projection," "forecast," "goal," "guidance," "outlook," "expect," "intend," "seek," "plan," "think," "anticipate," "estimate," "predict," "target," "potential" or "continue" or the negative of these terms or other comparable terminology. Such forward-looking statements include, but are not limited to, statements about the Company's future revenues, income, indebtedness, capital structure, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions.

Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, general economic conditions, hazards customary in the power industry, weather conditions and extreme weather events, competition in wholesale power and gas markets, the volatility of energy and fuel prices, failure of customers or counterparties to perform under contracts, changes in the wholesale power and gas markets, changes in government or market regulations, the condition of capital markets generally, our ability to access capital markets, the potential impact of COVID-19 or any other pandemic on the Company's operations, financial position, risk exposure and liquidity, data privacy, cyberterrorism and inadequate cybersecurity, unanticipated outages at our generation facilities, adverse results in current and future litigation, failure to identify, execute or successfully implement acquisitions or asset sales, our ability to implement value enhancing improvements to plant operations and companywide processes, our ability to achieve our net debt targets, our ability to achieve or maintain investment grade credit metrics, our ability to proceed with projects under development or the inability to complete the construction of such projects on schedule or within budget, the inability to maintain or create successful partnering relationships, our ability to operate our business efficiently, our ability to retain retail customers, our ability to execute our market operations strategy, the ability to successfully integrate businesses of acquired companies, including Direct Energy, our ability to realize anticipated benefits of transactions (including expected cost savings and other synergies) or the risk that anticipated benefits may take longer to realize than expected, and our ability to execute our Capital Allocation Plan. Achieving investment grade credit metrics is not an indication of or guarantee that the Company will receive investment grade credit ratings. Debt and share repurchases may be made from time to time subject to market conditions and other factors, including as permitted by United States securities laws. Furthermore, any common stock dividend is subject to available capital and market conditions.

NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The adjusted EBITDA and free cash flow guidance are estimates as of August 04, 2022. These estimates are based on assumptions the company believed to be reasonable as of that date. NRG disclaims any current intention to update such guidance, except as required by law. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this presentation should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.

2022 NRG Energy, Inc. All rights reserved.

2 | NRG 2Q22 Earnings

Agenda

Business Review

Mauricio Gutierrez

President & CEO

Financial Review

Alberto Fornaro

EVP & CFO

Closing Remarks

Mauricio Gutierrez

President & CEO

Q&A

Management

3 | NRG 2Q22 Earnings

Key Messages

Platform Navigating Through Volatility;

Maintaining 2022 Guidance

Advancing Customer-Focused

Growth Strategy

Executing $1 Billon

Share Repurchase Program

4 | NRG 2Q22 Earnings

Business Review | Financial Review | Closing Remarks | Appendix

Business Highlights & Results

Q2 Business Highlights

Financial and Operational Results

Top decile safety performance

Financial Update

($ millions)

Adjusted EBITDA

Published 12th Annual Sustainability Report

Results impacted by W.A. Parish Unit outage

Direct Energy Integration

Reaffirming 2022 and full plan targets

Perfect & Grow Integrated Platform

Executing integrated home strategy; near-term focus

on dual fuel, Goal Zero, and Airtron

Portfolio optimization through asset-sales (Watson)

and retirements (PJM)

'Staging' period of Investor Day roadmap; targeting

5-year,15-20% FCFbG/share CAGR growth plan

Disciplined Capital Allocation

$656

$358

70%

30%

Included in Guidance2:

  • Asset Sales & Retirements
  • '22 Transitory Items
  • '21 DER3 Intra-Year Shift

Variance to Guidance2:

  • Parish U8 Extended Outage
  • Growth Expense

$689 MM securitization proceeds received in late June

~$80 MM Uri-related expected recovery proceeds

$1 Bn share repurchase program; $405 MM

completed; current share count 235 MM

2Q2112Q22

Maintaining 2022 Financial Guidance

Second Quarter Results Reflect Known Guidance Drivers and Unplanned Outage

1 2Q21 results exclude the impact of Winter Storm Uri; 2 See slide 9 for details; 3 Demand Response Revenues (DER)

5 | NRG 2Q22 Earnings

Business Review | Financial Review | Closing Remarks | Appendix

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

NRG Energy Inc. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 11:36:22 UTC.


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Financials (USD)
Sales 2022 28 210 M - -
Net income 2022 1 577 M - -
Net Debt 2022 7 204 M - -
P/E ratio 2022 5,74x
Yield 2022 3,65%
Capitalization 9 013 M 9 013 M -
EV / Sales 2022 0,57x
EV / Sales 2023 0,61x
Nbr of Employees 6 635
Free-Float 55,0%
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Number of Analysts 11
Last Close Price 38,33 $
Average target price 43,00 $
Spread / Average Target 12,2%
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Managers and Directors
Mauricio Gutierrez President, Chief Executive Officer & Director
Alberto Fornaro Chief Financial Officer & Executive Vice President
Lawrence Stephen Coben Chairman
Michael R. Bramnick Chief Compliance Officer & SVP-Administration
Thomas H. Weidemeyer Independent Director
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