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Dec 31, 2025
NRG Energy Q4 2025 Earnings Report
NRG Energy reported lower GAAP earnings but higher adjusted profitability in Q4 2025.
Key Takeaways
NRG Energy generated $7761000000 in revenue in Q4 2025, with GAAP net income of $66000000 and diluted EPS of $0.26. Adjusted EBITDA declined year-over-year, while adjusted EPS came in at $1.04.
Revenue reached 7761000000 for the quarter.
GAAP net income was 66000000, down significantly year-over-year.
Adjusted EBITDA totaled 847000000 compared to 902000000 in the prior year period.
Adjusted EPS was 1.04 versus 1.56 in Q4 2024.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company reaffirmed its 2026 guidance following the acquisition of LS Power assets.
Positive Outlook
- Adjusted EBITDA guidance range of 5325000000 to 5825000000 for 2026.
- Adjusted EPS guidance range of 7.90 to 9.90.
- Expected free cash flow before growth between 2800000000 and 3300000000.
- Guidance reflects contribution from acquired LS Power assets.
- Company reiterated capital return plans including share repurchases and dividends.
Challenges Ahead
- GAAP net income impacted by mark-to-market volatility.
- Interest expense expected at approximately 1195000000.
- Income tax expense guidance between 490000000 and 560000000.
- Acquisition and integration costs expected to continue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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