NRG Energy has reported income from continuing operations of $48 million, or $0.14 per diluted common share, for the first quarter of 2008, compared to $61 million, or $0.19 per diluted common share, for the same period of 2007.
Operating income was $250 million for the first three months of 2008, unchanged in comparison to 2007 excluding a gain on sale of assets during that period.
Adjusted EBITDA, excluding mark-to-market impacts, was $525 million for the first quarter of 2008, compared to $500 million in the same period of 2007.
Cash flow from operations was $60 million during the first quarter of 2008, compared to $106 million in the same period of 2007 and reflects the impact of $150 million in cash collateral postings versus $120 million in 2007.
David Crane, president and CEO of NRG, said: Led by the southcentral region, the company turned in an exceptionally strong operating performance. Building on that operating performance, our commercial operations team successfully navigated volatile and occasionally illiquid commodity markets during the quarter to add significant hedges at value to our 2009-2013 baseload contract position.