Q1 2024 Earnings

Utilities Independent Power Producers

Income Statement

Revenue

$2.8B-25.6% YoY

Gross Profit

$131M4.7% margin

Operating Income

-$187M-6.7% margin

Net Income

-$35M-1.3% margin

EPS (Diluted)

$-0.24

QoQ Revenue Growth

-17.7%

Cash Flow

Operating Cash Flow

$312M

Free Cash Flow

-$284M

Stock-Based Comp.

$21M

Balance Sheet

Total Assets

$38.2B

Total Liabilities

$30.9B

Stockholders' Equity

$5.7B

Cash & Equivalents

$1.1B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$2.8B	$3.8B	-25.6%
Gross Profit	$131M	$1.1B	-88.0%
Operating Income	-$187M	$807M	-123.2%
Net Income	-$35M	$699M	-105.0%

Revenue Segments

Retail Energy Charge In ERCOT

$1.7B58%

Retail Energy Charge In Northeast/Midwest

$663M22%

Wholesale Generation Revenue From ERCOT

$489M17%

Revenue From Other Wholesale Contracts

$286M10%

Capacity Revenue

$19M1%

Intangible Amortization

-$1M-0%

Total Other Revenues

-$105M-4%

Hedging And Other Revenues

-$106M-4%