NRG Energy (NRG)

NRG (NRG) Q4 2025 Earnings Call Transcript

NRG (NRG) Q1 2026 Earnings Call Transcript

NRG Energy, Inc. (NYSE: NRG) today announced financial results for the first quarter ended March 31, 2026, and reports GAAP Net Income of $125 million, GAAP Earnings per Share (EPS) — basic of $0.52, and GAAP Cash Used by Operating Activities of $(169) million. The Company's non-GAAP metrics are Adjusted Net Income of $308 million, Adjusted EPS of $1.49, Adjusted EBITDA of $1,080 million, and Free Cash Flow before Growth Investments (FCFbG) of $(66) million for the first quarter of 2026.

NRG Energy, Inc. (NYSE:NRG) announced today the early results of the previously announced offer to purchase for cash (the “Tender Offer”) for any and all of the outstanding 7.250% senior secured notes due 2032 (the “Notes”) issued by Lightning Power, LLC (“Lightning”), a wholly-owned subsidiary of NRG. In conjunction with the Tender Offer, Lightning also solicited consents (the “Consent Solicitation”) to adopt certain proposed amendments to the indenture governing the Notes (the “Indenture”) to (i) eliminate substantially all of the restrictive covenants and certain affirmative covenants and events of default and related provisions therein (the “Proposed Amendments”) and (ii) release all of the guarantees of and the collateral securing the Notes (the “Release”). The Proposed Amendments require the consent of holders of a majority in aggregate principal amount of the outstanding Notes (the “Covenant Requisite Consent”) and the Release requires the consent of holders of at least 662/3% in aggregate principal amount of the outstanding Notes (the “Release Requisite Consent” and, together with the Covenant Requisite Consent, the “Requisite Consents”).

NRG Energy, Inc. (NYSE: NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.475 per share, or $1.90 per share on an annualized basis. The dividend is payable on May 15, 2026, to stockholders of record as of May 1, 2026.

NRG Energy, Inc. (NYSE:NRG) has priced its previously announced concurrent offerings of (1) $500 million aggregate principal amount of 4.955% senior secured first lien notes due 2031 (the “Secured Notes” and such offering, the “Secured Notes Offering”) and (2) senior unsecured notes (the “Unsecured Notes Offering” and, together with the Secured Notes Offering, the “Offerings”), consisting of (i) $1,050 million aggregate principal amount of 5.875% senior unsecured notes due 2034 (the “2034 Notes”) and (ii) $1,050 million aggregate principal amount of 6.125% senior unsecured notes due 2036 (the “2036 Notes” and, collectively with the 2034 Notes and the Secured Notes, the “Notes”).

NRG Energy, Inc. (NYSE:NRG) announced today that its wholly-owned subsidiary, Lightning Power, LLC (“Lightning”), has commenced an offer to purchase for cash (the “Tender Offer”) any and all of Lightning’s outstanding 7.250% senior secured notes due 2032 (the “Notes”), of which $1,500 million aggregate principal amount is currently outstanding.

NRG Energy, Inc. (NYSE:NRG) announced today the commencement of concurrent offerings of (1) senior secured first lien notes due 2031 (the “Secured Notes” and such offering, the “Secured Notes Offering”) and (2) senior unsecured notes (the “Unsecured Notes Offering” and, together with the Secured Notes Offering, the “Offerings”), consisting of (i) senior unsecured notes due 2034 (the “2034 Notes”) and (ii) senior unsecured notes due 2036 (the “2036 Notes” and, collectively with the 2034 Notes and the Secured Notes, the “Notes”).

NRG Energy, Inc. (NYSE:NRG) plans to report its first quarter 2026 financial results on Wednesday, May 6, 2026. Management will present the results during a conference call and webcast at 9:00 a.m. EST (8:00 a.m. CST).

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