NRG Energy reported Q3 2024 revenue of $7.2 billion, down 9% from $7.9 billion in Q3 2023, while posting a net loss of $767 million compared to net income of $343 million in the prior year period. The decline was primarily driven by a $1.6 billion loss in operating costs from economic hedge positions due to decreases in power prices, as well as higher operations and maintenance expenses.The company completed several strategic initiatives during the quarter, including the sale of its Airtron business unit for $484 million net proceeds, resulting in a gain of $208 million. NRG also continued executing its capital return program, repurchasing $319 million of shares at an average price of $79.26 per share during the quarter, with an additional $225 million repurchased through October at $89.23 per share.Looking ahead, NRG...Show More

NRG Energy reported Q3 2024 revenue of $7.2 billion, down 9% from $7.9 billion in Q3 2023, while posting a net loss of $767 million compared to net income of $343 million in the prior year period. The decline was primarily driven by a $1.6 billion loss in operating costs from economic hedge positions due to decreases in power prices, as well as higher operations and maintenance expenses.The company completed several strategic initiatives during the quarter, including the sale of its Airtron business unit for $484 million net proceeds, resulting in a gain of $208 million. NRG also continued executing its capital return program, repurchasing $319 million of shares at an average price of $79.26 per share during the quarter, with an additional $225 million repurchased through October at $89.23 per share.Looking ahead, NRG plans to increase its annual dividend by 8% to $1.76 per share in Q1 2025 and targets 7-9% annual dividend growth thereafter. The company maintains strong liquidity of $6.4 billion as of quarter-end and continues to focus on its strategy of being a leader in the convergence of energy and smart home automation while delivering sustainable shareholder returns.