NRG Energy Boosts Repurchase Allocation, Lifts FY Profit Outlook Above View

(RTTNews) - NRG Energy, Inc. (NRG), an energy provider, on Friday announced that it has increased share repurchase allocation for 2024 to $925 million from $825 million.

The company expects to complete the entire $925 million of 2024 repurchases near the end of the fourth quarter.

The Board has also approved an increase of the company's share repurchase authorization through 2025 to $3.7 billion from $2.7 billion.

Under its 2025 capital allocation plan, the company aims $1.3 billion in share repurchases and an 8 percent increase to the annual dividend to $1.76 per share.

In addition, the company has revised up its annual earnings guidance and initiated full-year 2025 outlook.

For the full year, NRG now expects net income of $925 million to $1.075 billion, higher than the prior outlook of $750 million to $1 billion.

Excluding items, income is now projected to be $1.235 billion or $5.95 per share to $1.385 billion or $6.75 per share, compared with prior guidance of $1.040 billion or $5 per share to $1.290 billion or $6.30 per share.

On average, 5-analysts, polled by Thomson Reuters forecast the firm to earn $6.67 per share, for the year. Analysts' estimates typically exclude special items.

For the full-year 2025, NRG expects net profit of $1.025 billion to $1.225 billion, with adjusted earnings of $1.330 billion or $6.75 per share to $1.530 billion to $7.75 per share.

Analysts, on average, expect the company to register income per share of $6.8, for the full-year 2025.