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SEC Filing Details

8-K
NRG ENERGY, INC. filed this Form 8-K on 11/08/2018
Entire Document
 

2 Adjusted for the deconsolidation of NRG Yield, the Renewables Platform, and Carlsbad Energy Center, and the expected sale of South Central
Segment Results

Table 1: Income/(Loss) from Continuing Operations
($ in millions)
 
Three Months Ended
 
Nine Months Ended
Segment
 
9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
Retail
 
$
(127
)
 
$
72

 
$
733

 
$
380

Generation a 
 
595

 
272

 
302

 
183

Corporate
 
(162
)
 
(159
)
 
(434
)
 
(447
)
Income from Continuing Operations
 
$
306

 
$
185

 
$
601

 
$
116

a. In accordance with GAAP, 2018 and 2017 results have been restated to include full impact of the deconsolidation of GenOn, NRG Yield, the Renewables Platform and Carlsbad Energy Center


Table 2: Adjusted EBITDA
($ in millions)

Three Months Ended
 
Nine Months Ended
Segment

9/30/18
 
9/30/17
 
9/30/18
 
9/30/17
Retail

$
269

 
$
279

 
$
755

 
$
615

Generation a

421

 
297

 
850

 
607

Corporate

(13
)
 
(24
)
 
(25
)
 
(39
)
Adjusted EBITDA b

$
677


$
552

 
$
1,580

 
$
1,183

a. In accordance with GAAP, 2018 and 2017 results have been restated to include full impact of the deconsolidation of GenOn, NRG Yield, the Renewables Platform and Carlsbad Energy Center
b. See Appendices A-1 through A-4 for Operating Segment Reg G reconciliations

Retail: Third quarter Adjusted EBITDA was $269 million, $10 million lower than third quarter 2017, driven by higher margin enhancement costs.  Gross margin was $25 million higher as a result of our margin enhancement initiatives (including both value expansion and customer growth), coupled with increased usage, partially offset by higher supply costs.

Generation: Third quarter Adjusted EBITDA was $421 million, $124 million higher than third quarter 2017, driven by:
Gulf Coast Region: $115 million increase due to higher generation and higher realized energy prices; and
East/West3: $9 million increase due to higher capacity revenues, partially offset by increased operating costs and the deconsolidation impact of the non-controlling interest in Ivanpah and Agua Caliente.

Corporate: Third quarter Adjusted EBITDA was $(13) million, $11 million better than the third quarter 2017, driven by lower G&A expenses associated with the Transformation Plan.


























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