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(RTTNews) - NRG Energy, Inc. (NRG), an energy and home services company, Wednesday reported lower earnings for the first quarter compared to the same period last year, despite higher revenues.
Further, the company reiterated its guidance for fiscal 2026.
Quarterly earnings decreased $625 million to $125 million from $750 million of last year, mainly due to unrealized non-cash losses from mark-to-market economic hedges, driven by a decrease in natural gas prices, as compared to prior year which saw gains.
Excluding items, earnings declined $223 million to $308 million from $531 million of the previous year, primarily driven by a $46 million decrease in Adjusted EBITDA.
However, revenue increased to $10.26 billion from $8.59 billion of the prior year.
Looking forward to the full year, the company continues to expect Adjusted net income in the range of $1.685 billion to $2.115 billion with Adjusted EPS ranging from $7.90 to $9.90 per share.
Additionally, the company declared a quarterly dividend of $0.475 per share payable on May 15 to stockholders of record as of May 1.
In pre-market activity, NRG shares were trading at $154.75, down 1.73% on the New York Stock Exchange.
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