NRG Q4 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025

Earnings

NRG Energy delivered a decisive beat across both top and bottom lines in Q4 2025, with adjusted EPS of $1.04 clearing the $0.89 consensus by 16.38% and revenue of $7.76 billion topping estimates by 16.88%, rising 13.8% year-over-year. The Texas segme… Read more NRG Energy delivered a decisive beat across both top and bottom lines in Q4 2025, with adjusted EPS of $1.04 clearing the $0.89 consensus by 16.38% and revenue of $7.76 billion topping estimates by 16.88%, rising 13.8% year-over-year. The Texas segment was the clearest driver of full-year momentum, with Adjusted EBITDA climbing $295 million to $1.88 billion on improved margins and supply cost optimization, helping push full-year Adjusted EBITDA to $4.09 billion, ahead of the company's own raised guidance range. On a quarterly basis, GAAP net income fell sharply to $66 million from $643 million a year earlier, reflecting unrealized non-cash mark-to-market losses on hedge positions that swung against the prior year's gains. The January 2026 closing of the LS Power acquisition, which added 13 GW of generation capacity, anchors NRG's 2026 Adjusted EBITDA guidance of $5.33 billion to $5.83 billion. Shares faced near-term pressure following a secondary offering of 14.3 million shares at $164 each, though the company announced a concurrent $300 million repurchase to offset dilution concerns.