NRG Energy, Inc. (NYSE:NRG) Q1 2024 Results Conference Call May 7, 2024 9:00 AM ET

Company Participants

Kevin Cole - Head, Treasury and IR
Dr. Larry Coben - Chair and Interim President and CEO
Bruce Chung - CFO
Robert Gaudette - EVP of NRG Business
Rasesh Patel - Chief Operating Officer

Conference Call Participants

Shahriar Pourreza - Guggenheim Partners
Angie Storozynski - Seaport
Steve Fleishman - Wolfe Research
Durgesh Chopra - Evercore ISI
Dave Arcaro - Morgan Stanley
Ryan Levine - Citi

Operator

Good day, and thank you for standing by. Welcome to the NRG Energy, Inc. First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your first speaker today, Kevin Cole, Head of Treasury and Investor Relations. Please go ahead.

Kevin Cole

Thank you. Good morning, and welcome to NRG Energy's first quarter 2024 earnings call. This morning's call will be 45 minutes in length and is being broadcast live over the phone and via webcast, which can be located in the Investors section of our website at www.nrg.com under Presentations and Webcasts.

Please note that today's discussion may contain forward-looking statements which are based upon assumptions that we believe to be reasonable as of this date. Actual results may differ materially. We urge everyone to review the Safe Harbor in today's presentation as well as the risk factors in our SEC filings. We undertake no obligation to update these statements as a result of future events, except as required by law.

In addition, we will refer to both GAAP and non-GAAP financial measures. For information regarding our non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures, please refer to today's presentation.

And with that, I'll now turn the call over to Dr. Larry Coben, NRG's Chair and Interim President and CEO.

Dr. Larry Coben

Thank you very much, Kevin. Good morning, everyone, and thank you for your interest in NRG. I'm joined this morning also by Bruce Chung, our Chief Financial Officer. And we also have members of the management team on the call who are available to answer questions.

Let's begin with the three key messages for today's presentation on Slide 4. First, our business performance exceeded expectations in the first quarter. I'm incredibly pleased with our strong start to the year and in reaffirming our 2024 financial guidance ranges. Second, electrification trends compounded by GenAI data center growth forecast a signal of transformative rises in power demand. As a result, we expect competitive markets to realize outsized benefits driven by business-friendly environments, available resources and the ability to cite projects quickly.