WASHINGTON (dpa-AFX) - NRG Energy, Inc. (NRG) posted first quarter net loss attributable to common shareholders of $209 million or $0.92 per share, narrower than $262 million or $1.06 per share a year ago.
On average, 10 analysts polled by Thomson Reuters expected the company to report loss of $0.13 per share. Analysts' estimates typically exclude special items.
Total operating revenues declined to $1.86 billion from $1.995 billion in the prior-year quarter. Analysts expected revenues of $2.20 billion.
The company's financial results were negatively affected by extraordinarily mild weather in all of NRG's core markets during the first quarter, the STP unit 2 outage for the entire quarter and substantial coal-to-gas switching.
'While the company's performance for the quarter was weighed down by exceptionally mild weather and lower commodity prices generally, we have laid a strong foundation during the quarter for the Company to benefit over the balance of the year from the strengthening of fundamentals in several of our core commodity and capacity markets,' commented David Crane, NRG's President and Chief Executive Officer.
Copyright RTT News/dpa-AFX
© 2012 AFX News
