UPDATE 1-NRG Q3 earnings miss estimates - News

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UPDATE 1-NRG Q3 earnings miss estimates

By: AFX | 29 Oct 2009 | 08:11 AM ET

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* Q3 EPS $1.02 vs est $1.14 * Weak commodity prices, higher costs weigh * Rev up about 12 pct on recent acquisition Oct 29 (Reuters) - Power producer NRG Energy Inc reported lower quarterly earnings that missed estimates, hurt by weak commodity prices and higher operating costs. Net income for the third quarter was $278 million, or $1.02 a share, compared with $778 million, or $2.81 a share, last year. Total operating revenue for the quarter rose about 12 percent to $2.92 billion, helped by NRG's acquisition of Reliant Energy Inc's Texas retail business earlier this year. Analysts on average were expecting earnings of $1.14 a share, before special items, on revenue of $1.93 billion, according to Thomson Reuters I/B/E/S. Shares of the company closed at $24.81 Wednesday on the New York Stock Exchange. (Reporting by Hezron Selvi in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: NRG/ (hezron.selvi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging; hezron.selvi.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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