Power generator NRG Energy Inc., with plants in Connecticut, posted a better-than-expected quarterly profit, helped by strong retail sales in Texas, Reuters reports.
The company raised its 2010 adjusted EBITDA – earnings before interest, taxes, depreciation and amortization — outlook to a range of $2.45 billion to $2.55 billion, excluding mark-to-market, from its earlier forecast of $2.20 billion, excluding mark-to-market. Reuters said.
It sees free cash flow between $816 million to $916 million, excluding mark-to-market, compared with previous estimate of $462 million, excluding mark-to-market.
For the second quarter, the company reported net income of $210 million, or 81 cents per share, compared with $432 million, or $1.56 per share, a year ago.
Operating revenue slightly declined to $2.13 billion.
Analysts on average expected quarterly earnings of 43 cents a share on revenue of $2.33 billion, according to Thomson Reuters I/B/E/S.
Revenue from Texas was up 60 percent to $157 million, partially offset by lower margins.
