NRG Energy Withdraws FY21 Outlook - Quick Facts

(RTTNews) - Power generation company NRG Energy, Inc. (NRG) on Wednesday said that it is withdrawing its earlier provided Adjusted EBITDA, Adjusted Cash from Operations and Free Cash Flow before Growth Investments outlook for fiscal 2021.

The company took this decision in the backdrop of the Winter Storm Uri, which hit Texas in February this year. The storm's financial impact is expected to be a $750 million loss, compared to the earlier announced guidance range.

Previously, the company had expected adjusted EBITDA in the range of $2.4 billion and $2.6 billion. Adjusted Cash from Operations was expected in the range of $1.63 billion and $1.83 billion. Free Cash Flow before Growth Investments was anticipated between $1.44 billion and $1.64 billion for fiscal 2021.

The company said that the uncertainty regarding the financial effects of the Winter Storm on other operators and the ongoing legislative and regulatory responses will have a hard impact on further financial results.