NRG Energy FY19 Profit Surges - Quick Facts

(RTTNews) - NRG Energy, Inc. (NRG) on Thursday reported fiscal 2019 net income attributable to the company of $4.44 billion or $16.81 per share, up sharply from $268 million or $0.87 per share in the prior year.

Income from continuing operations jumped to $4.12 billion or $15.59 per share from $460 million or $1.49 per share last year. This increase was driven by the release of a $3.5 billion tax valuation allowance due to continuing evidence of historical and forecasted positive earnings.

Operating revenues for the year rose to $9.82 billion from $9.48 billion last year.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.22 per share for the year on revenues of $10.29 billion. Analysts' estimates typically exclude special items.