NRG Yield Q3 Profit Declines; Raises FY Adj. EBITDA Outlook - Quick Facts

(RTTNews) - NRG Yield Inc. (NYLD) reported that its net income attributable to the company for the third quarter declined to $29 million or $0.27 per Class A share from $33 million or $0.30 per Class A share last year.

Total operating revenues for the quarter were $265 million, down from $272 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share on revenues of $264.7 million. Analysts' estimates typically exclude special items.

On October 31, 2017, NRG Yield's board of directors declared a quarterly dividend on Class A and Class C common stock of $0.288 per share, or approximately $1.15 per share annualized.

The dividend is payable on December 15, 2017, to stockholders of record as of December 1, 2017. This equates to a 2.9 percent increase over the prior quarter, and a 15 percent year-over-year increase.

As a result of the November Drop Down acquisition, NRG Yield is updating its full-year 2017 financial guidance for Adjusted EBITDA. However, given the time of year, the November Drop Down will contribute an immaterial amount of CAFD in 2017.

The company now expects fiscal 2017 net income of $100 million, down from the prior forecast of $140 million. However, the company raised its outlook for full-year adjusted EBITDA to $935 million from the $920 million forecast earlier.

The company initiated guidance for fiscal 2018 net income of $125 million and adjusted EBITDA of $950 million.