Earnings Releases·Nov 9, 2026, 6:45 AM ET

NRG Energy — Third Quarter 2026 Earnings Summary

Q3 2026 GAAP net income rose to $561 million ($2.59 EPS) from $152 million ($0.70 EPS) in the prior year, while adjusted net income increased to $983 million ($4.68 EPS) from $537 million ($2.78 EPS); revenue reached $9.466 billion compared to $7.635 billion previously.
Management reaffirmed 2026 guidance and initiated 2027 guidance across adjusted net income, EPS, EBITDA, and free cash flow, with 2027 projections excluding the impact of an announced 4.9 GW asset sale.
NRG entered a definitive agreement to sell 4.9 GW of natural gas assets to LS Power for $4 billion, with proceeds expected to support a pro forma 2027 plan of $3 billion in share repurchases and $3 billion in debt reduction.
The company plans to return $1.0 billion via share repurchases and $407 million via dividends in 2026, with a quarterly dividend of $0.475 per share declared; through October 31, 2026, $977 million in buybacks and $302 million in dividends were completed.
Liquidity stood at $6.0 billion as of September 30, 2026, a decrease of $3.6 billion from year-end 2025 primarily due to funding the LS Power acquisition, while Q3 results included $155 million in unrealized non-cash hedge losses.