Princeton and Houston-based NRG Energy reported on Tuesday a first quarter loss of $203 million, or 52 cents per share, as compared to a gain of $47 million, or 24 cents per share, during the first quarter of last year.
Part of the loss came from a mild winter in the Gulf Coast region, where energy demand was low, said NRG in a news release.
Since the company’s board of directors was restructured earlier this year, analysts have said they expect NRG will look to unload a bankrupt subsidiary, GenOn, as well as some of its renewable energy assets.
New members on NRG’s board, which now includes the former Texas energy and power regulator Barry Smitherman, have said that NRG’s stock is undervalued and has been dragged down by poor returns from renewables.
The company’s renewable branch sustained a loss of $31 million in the first quarter, as compared to a $40 million loss over the same period last year, according to NRG.