NRG Energy, Inc (NRG) saw its loss narrow to $774 million, or $2.22 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $6,382 million, or $19.46 a share. Revenue during the year dropped 15.83 percent to $12,351 million from $14,674 million in the previous year. Gross margin for the year was at 26.71 percent.
Adjusted EBITDA for the year stood at $3,257 million.
"Our business delivered a year of strong results, both EBITDA and Free Cash Flow, driven by Retail, which had a record 2016 adjusted EBITDA and its third consecutive year of EBITDA growth,” said Mauricio Gutierrez, NRG president and chief executive officer. "Our focus on strategic priorities and strong execution in 2016 sets the foundation for 2017, allowing us to seize market opportunities while continuing to streamline the business, strengthen the balance sheet and deliver value to shareholders."
For fiscal year 2017,NRG Energy, Inc forecasts net income to be in the range of $60 million to $260 million.
Operating cash flow improves significantly
NRG Energy, Inc has generated cash of $2,072 million from operating activities during the year, up 58.29 percent or $763 million, when compared with the last year. The company has spent $824 million cash to meet investing activities during the year as against cash outgo of $1,485 million in the last year.
The company has spent $794 million cash to carry out financing activities during the year as against cash outgo of $432 million in the last year period.
Cash and cash equivalents stood at $1,973 million as on Dec. 31, 2016, up 29.97 percent or $455 million from $1,518 million on Dec. 31, 2015.
Working capital drops significantly
NRG Energy, Inc has witnessed a decline in the working capital over the last year. It stood at $2,013 million as at Dec. 31, 2016, down 33.26 percent or $1,003 million from $3,016 million on Dec. 31, 2015. Current ratio was at 1.46 as on Dec. 31, 2016, down from 1.69 on Dec. 31, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
