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NRG Energy Reports Third Quarter 2026 Results, Reaffirms 2026 Financial Guidance, and Initiates 2027 Guidance

NRG
  • NRG Energy reported GAAP Net Income of $561 million and Adjusted Net Income of $983 million for the third quarter of 2026.
  • Adjusted Earnings Per Share (EPS) for the quarter reached $4.68, while Adjusted EBITDA totaled $2,013 million.
  • The company reaffirmed its 2026 guidance ranges for Adjusted Net Income, Adjusted EPS, Adjusted EBITDA, and Free Cash Flow before Growth Investments.
  • NRG initiated new 2027 guidance with Adjusted Net Income expected between $1,665 million and $2,075 million.
  • An agreement was announced to sell 4.9 GW of natural gas generation assets to LS Power for $4 billion to support share repurchases and debt reduction.
  • The 2027 capital allocation plan includes $1 billion for debt reduction, $1 billion for share repurchases, and an 8% increase in the annual dividend to $2.05 per share.
  • Proceeds from the asset sale are expected to enable an additional $2 billion in debt reduction and $1 billion in share repurchases.
  • The company plans a total of $3 billion in share repurchases across 2026 and 2027, with an incremental $1 billion expected before the end of Q4 2026.
  • NRG declared a quarterly dividend of $0.475 per share, payable on November 16, 2026, to stockholders of record as of November 2, 2026.
  • The 1.2 GW Bring Your Own Power data center project remains on schedule for completion.
  • Texas and East segment Adjusted EBITDA grew significantly compared to the prior year, driven by higher capacity prices and contributions from acquired LS Power assets.
  • Vivint Smart Home segment Adjusted EBITDA increased due to higher new customer adds and improved monthly recurring service margins.
  • NRG received the 2026 Top Plant Water Award for its WA Parish plant and the 2026 Good Neighbor award for reclamation work at the Jewett Mine.