NRG Energy, Inc. Q3 FY2023 results: revenue $7.9 billion, down 6.6% on the year

NRG Energy, Inc. (NRG) reported revenue of $7.9 billion for Q3 FY2023, the quarter ended 30 September 2023, down 6.6% on the same quarter a year earlier. Net income was $343 million, up 411.9% on the year, and diluted earnings per share $1.41. The figures are the company's own, from the 10-Q it filed with the SEC on 2 November 2023.

Revenue$7.9 billiondown 6.6%

Net income$343 millionup 411.9%

Diluted EPS$1.41

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	7,946	n/a	n/a	n/a
Selling, general and administrative	638	n/a	n/a	n/a
Operating income	561	n/a	n/a	n/a
Operating margin	7.1%	n/a	n/a
Interest expense	173	n/a	n/a	n/a
Pre-tax income	408	n/a	n/a	n/a
Income tax	65.0	n/a	n/a	n/a
Effective tax rate	15.9%	n/a	n/a
Net income	343	n/a	n/a	n/a
Net margin	4.3%	n/a	n/a
Diluted EPS	$1.41	n/a	n/a	n/a

$ million except per share. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	566	n/a	n/a	n/a
Capital expenditure	169	n/a	n/a	n/a
Free cash flow	397	n/a	n/a	n/a
Free cash flow margin	5.0%	n/a	n/a
Depreciation and amortisation	308	n/a	n/a	n/a
Share-based compensation	26.0	n/a	n/a	n/a
Buybacks	53.0	n/a	n/a	n/a
Dividend per share	$0.38	n/a	n/a	n/a
Diluted shares, weighted	232m	n/a	n/a	n/a
Shares outstanding at period end	229m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Total assets	27,910	n/a	n/a	n/a
Cash and equivalents	401	n/a	n/a	n/a
Receivables	3,764	n/a	n/a	n/a
Inventory	630	n/a	n/a	n/a
Goodwill	5,143	n/a	n/a	n/a
Long-term debt	11,863	n/a	n/a	n/a
Long-term debt including finance leases	10,741	n/a	n/a	n/a
Operating lease liabilities	148	n/a	n/a	n/a
Shareholders' equity	3,518	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	7,946	6,807	7,429	6,659	7,223	6,819	8,585	6,740	7,635	7,753	10,256	7,481
SG&A	638	382	591	592	645	203	549	724	612	n/a	593	562
Operating income	561	837	872	1,410	-812	954	1,134	0.0	414	297	328	976
Operating margin	7%	12%	12%	21%	-11%	14%	13%	0%	5%	4%	3%	13%
Interest expense	173	195	152	163	213	123	163	148	187	243	285	310
Pre-tax income	408	653	695	1,052	-1,014	715	985	-153	238	64.0	83.0	663
Tax rate	16%	26%	26%	30%	n/a	10%	24%	n/a	36%	-3%	-51%	24%
Net income	343	482	511	738	-767	643	750	-104	152	66.0	125	506
Net margin	4%	7%	7%	11%	-11%	9%	9%	-2%	2%	1%	1%	7%
Diluted EPS	$1.41	$2.04	$2.31	$3.37	-$3.79	$3.10	$3.61	-$0.62	$0.69	$0.33	$0.52	$2.31
Operating cash flow	566	241	267	1,056	31.0	952	855	451	484	123	-169	1,117
Capital expenditure	169	105	69.0	103	114	186	217	378	254	298	317	338
Free cash flow	397	136	198	953	-83.0	766	638	73.0	230	-175	-486	779
Buybacks	53.0	1,103	0.0	90.0	226	619	314	289	355	353	481	450
Shares outstanding	229m	208m	208m	207m	205m	199m	196m	195m	192m	190m	213m	210m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 2 November 2023, accession 0001013871-23-000022: the filing on EDGAR. All of NRG Energy, Inc.'s filings: EDGAR company page.

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