NRG Energy reported GAAP net income of $506 million and GAAP basic EPS of $2.32 for the quarter ended June 30, 2026, and reiterated its full-year 2026 guidance. The company posted Adjusted EBITDA of $1,217 million and Adjusted EPS of $1.49 for the quarter. NRG also reported GAAP cash provided by operating activities of $1,117 million and free cash flow before growth investments of $1,025 million for Q2.

Financial Highlights

  • Revenue: $7,481 million for the three months ended June 30, 2026.
  • GAAP Net Income: $506 million for Q2 2026 (vs. $(104) million Q2 2025).
  • GAAP EPS — basic: $2.32 for Q2 2026.
  • Adjusted EBITDA (non-GAAP): $1,217 million for Q2 2026; $2,297 million year-to-date.
  • Adjusted EPS (non-GAAP): $1.49 for Q2 2026; Adjusted Net Income (non-GAAP) $315 million for Q2 2026.

Business Highlights

  • Advanced Bring Your Own Power (BYOP) data center strategy: aligned on principal commercial terms with a global cloud/AI hyperscaler for a proposed 1.2 GW combined-cycle natural gas facility in Texas, subject to final documentation and approvals.
  • Texas Energy Fund (TEF) progress: achieved commercial operations at the 415 MW T.H. Wharton facility (NRG’s first new-build generation asset in nearly a decade) and entered a completion bonus grant agreement for up to $54.72 million payable over ten years, subject to performance.
  • Two additional TEF projects remain on time and on budget as part of a plan to bring ~1.5 GW of new generation online by mid-2028 to support Texas load growth.
  • Operational segment performance: East segment benefited from contribution of newly acquired generation assets and CPower and higher capacity prices; Texas segment results impacted by higher supply costs and milder weather reducing retail load; Vivint Smart Home saw higher new customer additions and increased monthly recurring service margin per customer.
  • Liquidity and capital allocation: total liquidity of $5.3 billion as of June 30, 2026, and a 2026 capital return plan targeting $1.0 billion in share repurchases and approximately $407 million in dividends (company completed $932 million of repurchases and $202 million of dividends through July 31, 2026).

Original SEC Filing:

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