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Inferra AI / Company / NRG

NRG Energy

NRG · Utilities

Last earnings Aug 4, 2026  ·  Next earnings Nov 9, 2026

Key results

Adjusted net incomequarter

$339 million

The Company's non-GAAP metrics are Adjusted Net Income of $339 million, Adjusted EPS of $1.73, Adjusted EBITDA of $909 million, and Free Cash Flow before Growth Investments (FCFbG) of $914 million for the second quarter of 2025.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

EPSquarter

$1.73

The Company's non-GAAP metrics are Adjusted Net Income of $339 million, Adjusted EPS of $1.73, Adjusted EBITDA of $909 million, and Free Cash Flow before Growth Investments (FCFbG) of $914 million for the second quarter of 2025.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Free cash flowquarter

$914 million

The Company's non-GAAP metrics are Adjusted Net Income of $339 million, Adjusted EPS of $1.73, Adjusted EBITDA of $909 million, and Free Cash Flow before Growth Investments (FCFbG) of $914 million for the second quarter of 2025.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Adjusted EPS, Adjusted Net Income, and Adjusted EBITDA exclude fair value adjustments related to derivatives 1 b Adjusted Net Income as shown here is 'Adjusted Net Income available for common stockholders' see Appendix tables A-1 through A-4 c Adjusted EPS calculated based on Adjusted Net Income divided by weighted average number of common shares outstanding - basic NRG's GAAP Net Loss for the second quarter of 2025 is $842 million lower than the same period in 2024, primarily due to unrealized non-cash losses on mark-to-market economic hedges driven by declines in forward natural gas and northeast power prices, as well as an increase to reserves for legal matters in 2025.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Adjusted Net Income for the second quarter 2025 is $339 million, $14 million lower than prior year, primarily driven by a $53 million decline in Adjusted EBITDA, which includes the financial impacts mentioned in the previous paragraph and additional drivers described in the segment results below.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

AI analysis

Q2 2025 · reported Aug 6, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

EPS · Q2 2025
$1.73
EX-99 · Aug 6, 2025
Free cash flow · Q2 2025
$914M
EX-99 · Aug 6, 2025
Adjusted net income · Q2 2025
$339M
EX-99 · Aug 6, 2025

Headline figures

MetricQ2 2025Prior qtrYear ago
Adjusted net income$339 million——
EPS$1.73——
Free cash flow$914 million——

EX-99 · Aug 6, 2025

Guidance · company-stated

Direction: Reiterated

Company outlook — Reiterated

“Reports Second Quarter Results and Reaffirms 2025 Financial Guidance Strong financial and operating results reaffirming 2025 guidance ranges and capital allocation Signed 295 MW of premium, long-term retail agreements for data centers on NRG sites potential expansion up to 1 GW across additional sites Executed loan agreement under the Texas Energy Fund for T.”

Company outlook — Reiterated

“Reaffirming 2025 Guidance NRG is trending at the upper end of its guidance ranges and is reaffirming its guidance for 2025 as set forth below.”

Classified from the release's primary full-year outlook statement.

Next earningsNov 9, 2026Verified from the company’s own announcement

Cash flow & capex

Free cash flow$914M

Capital allocation

Dividend$1.3B

The year-over-year decrease was partially offset by a loss on debt extinguishment recorded in 2024.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Our results underscore the strength and resilience of our core business combined with meaningful progress on our strategic initiatives, said Larry Coben, Chair, President, and Chief Executive Officer

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Reiterated

Company outlook — Reiterated (“Reaffirms”)
“Reports Second Quarter Results and Reaffirms 2025 Financial Guidance Strong financial and operating results reaffirming 2025 guidance ranges and capital allocation Signed 295 MW of premium, long-term retail agreements for data centers on NRG sites potential expansion up to 1 GW across additional sites Executed loan agreement under the Texas Energy Fund for T.”

Company outlook — Reiterated (“Reaffirming”)
“Reaffirming 2025 Guidance NRG is trending at the upper end of its guidance ranges and is reaffirming its guidance for 2025 as set forth below.”

Classified from the release's primary full-year outlook statement.

Capital allocation

The year-over-year decrease was partially offset by a loss on debt extinguishment recorded in 2024.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

2025 Capital Allocation The Company plans to return $1.3 billion to shareholders via share repurchases and approximately $345 million via common stock dividends in 2025, as part of its previously announced 2025 capital allocation plan.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Through July 31, 2025, the Company completed $768 million in share repurchases and distributed $173 million in common stock dividends.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

On July 8, 2025, the Company retired the remaining $232 million of its outstanding 2.75% convertible senior notes due 2048.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

On July 22, 2025, NRG closed a $1.0 billion upsize to its existing Term Loan B, with the proceeds to be utilized for replenishment of capital employed for the acquisition of assets added to its Texas generation portfolio, the redemption of principal related to the convertible senior notes, development of its Texas new builds, and general company purposes.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

On July 21, 2025, NRG declared a quarterly dividend of $0.44 per common share, or $1.76 per share on an annualized basis.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Strategy & priorities

Reports Second Quarter Results and Reaffirms 2025 Financial Guidance Strong financial and operating results reaffirming 2025 guidance ranges and capital allocation Signed 295 MW of premium, long-term retail agreements for data centers on NRG sites potential expansion up to 1 GW across additional sites Executed loan agreement under the Texas Energy Fund for T.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Our results underscore the strength and resilience of our core business combined with meaningful progress on our strategic initiatives, said Larry Coben, Chair, President, and Chief Executive Officer.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

What continues to differentiate NRG is our ability to innovate at scale while staying laser-focused on delivering the full spectrum of energy services to an ever-growing realm of customers - from data centers to businesses of all sizes to families.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The prior year also included positive impact from rising ERCOT power prices and market heat rate expansion.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

NRG Strategic Developments Data Center Update NRG has entered into 295 MW of premium, long-term retail agreements to power data centers constructed on two NRG-owned sites in Texas.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Risks & headwinds

Our solutions power a smarter, brighter future by helping customers achieve today's goals while solving for the challenges of tomorrow.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as may, should, could, objective, projection, 4 forecast, goal, guidance, outlook, expect, intend, seek, plan, think, anticipate, estimate, predict, target, potential or continue or the negative of these terms or other comparable terminology.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The foregoing review of factors that could cause NRG s actual results to differ materially from those contemplated in the forward-looking statements included in this press release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the SEC at www.

SEC original ↗NRG Energy — Earnings release (8-K exhibit)EX-99Aug 6, 2025

These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond NRG s control, that may cause NRG s actual results, performance and achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SEC original ↗NRG Energy — 10-Q Quarterly report10-QAug 4, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Fortis (FTS) UtilitiesAmerican Water Works (AWK) UtilitiesFirstEnergy (FE) UtilitiesEdison International (EIX) UtilitiesDuke Energy (DUK) UtilitiesPublic Service Enterprise Group (PEG) UtilitiesConstellation Energy (CEG) UtilitiesWEC Energy Group (WEC) Utilities
Documents

Filings

39 documents

Earnings releases

29 documents

Presentations

0 documents

No presentations for NRG Energy are held in this edition of the library.

Transcripts

0 documents

No transcripts for NRG Energy are held in this edition of the library.

Mentioned by

6 companies

Other tracked companies whose held documents mention NRG Energy by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.