NRG Energy Inc. (NYSE:NRG) reported sharply lower quarterly earnings as an hefty income tax benefit boosted results for the year-ago period.
Earnings were $251 million or $1.08 per share for the second quarter quarter, compared with $621 million or $2.53 per share in the year-ago quarter that included tax benefit of $630 million.
Operating revenue fell to $2.17 billion from $2.28 billion.
Wall Street analysts, on average, expected earnings of $0.17 per share on revenue of $2.69 billion.
Adjusted EBITDA increased to $539 million from $517 million, with the company's retail unit contributing $219 million and wholesale recording $320 million.
Looking ahead, NRG maintained its adjusted EBITDA forecast for the years 2012, 2013 and 2014.
NRG shares ended Tuesday's regular trading session at $19.54. The stock has been trading in the 52-week range between $14.29 and $24.12.