NRG Energy swings to loss as costs rise, plans to reorganize

NRG Energy (NRG -0.6%) opens lower after posting a Q2 loss, as higher operating costs and expenses masked an increase in revenue.

NRG reported a Q2 loss of $0.30/share, down from earnings of $0.37 in Q2 2013 and missing the consensus analyst estimate of $0.15, if comparable.

NRG's retail, renewables and corporate segments all reported losses for the quarter, but its wholesale business and NRG Yield (NYLD -3%) posted profits.

Q2 operating revenue jumped 24% Y/Y to $3.62B, but operating costs and expenses surged 34% to $3.53B.

Reaffirms FY 2014 guidance for adjusted EBITDA of $3.2B-$3.4B and free cash flow before growth investments of $1.2B-$1.4B.

NRG also says it is reorganizing the company to focus more on the industry's high-growth segments, and announces a pollution reduction plan for its four Illinois coal-fired generating plants.

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