NRG Energy, Inc. reported a decline in revenue for the third quarter of 2024, with total revenue of $7,223 million, down from $7,946 million in the same period of 2023. For the nine months ended September 30, 2024, total revenue was $21,311 million, a decrease from $22,016 million year-over-year. Retail revenue also fell, totaling $6,954 million for the third quarter, compared to $7,521 million in 2023, and $20,527 million for the nine months, down from $20,911 million.

Operating costs and expenses increased significantly in the third quarter, reaching $8,243 million, up from $7,385 million in the prior year. This led to an operating loss of $(812) million for the quarter, contrasting with an operating income of $561 million in Q3 2023. However, for the nine-month period, NRG reported an operating income of $1,470 million, an improvement from a loss of $(453) million in the same period of 2023.

The company experienced a net loss of $(767) million for the third quarter of 2024, a stark contrast to a net income of $343 million in the previous year. For the nine months, NRG reported a net income of $482 million, a significant recovery from a net loss of $(684) million in 2023. The loss per share for the third quarter was $(3.79), compared to earnings of $1.42 per share in 2023, while the nine-month earnings per share improved to $2.08 from a loss of $(3.14).

Strategically, NRG completed the sale of its Airtron business unit on September 16, 2024, for net proceeds of $484 million, resulting in a gain of $208 million. The company also reported a significant reduction in acquisition-related costs, with payments for acquisitions totaling $(33) million for the nine months ended September 30, 2024, compared to $(2,502) million in the same period of 2023, following the acquisition of Vivint Smart Home in March 2023.

As of September 30, 2024, NRG's cash and cash equivalents stood at $1,104 million, a notable increase from $541 million at the end of 2023. Total assets decreased to $23,724 million from $26,038 million, while total liabilities also fell to $21,204 million from $23,132 million. The company’s total stockholders' equity decreased to $2,520 million from $2,906 million.

In terms of capital management, NRG increased its share repurchase authorization to $3.7 billion, with $2.0 billion remaining as of October 31, 2024. The company also plans to increase its annual dividend by 8% to $1.76 per share starting in Q1 2025, targeting a growth rate of 7%-9% in subsequent years.