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NRG Energy Q2 Earnings Lag Estimates, Revenues Increase Y/Y
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Key Takeaways
NRG Energy posted Q2 EPS of $1.49, missing estimates by 10.2%, while revenues rose 11% to $7.48B.
Adjusted EBITDA climbed 33.9% to $1.22B, while operating costs fell 2.9% year over year.
NRG advanced a 1.2-GW Texas gas project and expects 2026 adjusted EPS of $7.90-$9.90.
NRG Energy, Inc. (NRG - Free Report) reported second-quarter 2026 adjusted earnings of $1.49 per share, which missed the Zacks Consensus Estimate of $1.66 by 10.2%. The bottom also line declined 11.3% from $1.68 in the year-ago quarter.
Revenues of NRG Energy
Total revenues were $7.48 billion, which beat the Zacks Consensus Estimate of $5.89 billion by 27%. The top line also increased 11% from the prior-year quarter’s level of $6.74 billion.
NRG Energy, Inc. Price, Consensus and EPS Surprise
The company recorded adjusted EBITDA of $1.22 billion in the second quarter, up 33.9% from $0.91 billion registered a year ago.
Total operating costs and expenses were $6.54 billion, down 2.9% from $6.74 billion in the year-ago quarter.
Operating income in the second quarter totaled $976 million.
Through July 31, 2026, NRG completed $932 million in share repurchases and distributed $202 million in common stock dividends. In 2026, the company plans to return $1 billion through share repurchases and common stock dividends of around $407 million.
NRG Energy Advances Texas Expansion Plans
NRG advanced its Bring Your Own Power strategy with a global cloud and artificial intelligence hyperscaler. The parties are aligned on principal commercial terms for developing a 1.2-gigawatt combined-cycle natural gas generation facility in Texas, subject to final documentation and approvals.
The company also achieved commercial operations at the 415-megawatt T.H. Wharton facility. Its two other Texas Energy Fund projects remained on schedule and within budget.
NRG’s Financial Highlights
As of June 30, 2026, NRG had cash and cash equivalents worth $0.16 billion compared with $4.71 billion as of Dec. 31, 2025.
As of June 30, 2026, long-term debt and finance leases amounted to $21.74 billion compared with $16.41 billion as of Dec. 31, 2025.
Cash provided by operating activities in the first six months of 2026 totaled $0.95 billion compared with $1.31 billion in the year-ago quarter.
Capital expenditures amounted to $655 million in the first six months of 2026 compared with $595 million in the year-ago quarter.
Total liquidity was $5.28 billion, down from $9.63 billion, primarily due to funding the acquisition of generation assets and CPower from LS Power.
NRG’s Guidance
NRG Energy expects its 2026 adjusted net income to be in the range of $1.685-$2.115 billion.
The company expects its 2026 adjusted EPS to be in the range of $7.90-$9.90. The Zacks Consensus Estimate is pegged at $9.70, which is at the higher end of the company’s guided range.
Free Cash Flow before Growth for 2026 is anticipated to be in the range of $2.8-$3.3 billion.
NRG expects 2026 adjusted EBITDA in the band of $5.325-$5.825 billion.
Edison International (EIX - Free Report) reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter.
Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.
IDACORP, Inc. (IDA - Free Report) reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.
Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.
PG&E Corporation (PCG - Free Report) reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.
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NRG Energy Q2 Earnings Lag Estimates, Revenues Increase Y/Y
Key Takeaways
NRG Energy, Inc. (NRG - Free Report) reported second-quarter 2026 adjusted earnings of $1.49 per share, which missed the Zacks Consensus Estimate of $1.66 by 10.2%. The bottom also line declined 11.3% from $1.68 in the year-ago quarter.
Revenues of NRG Energy
Total revenues were $7.48 billion, which beat the Zacks Consensus Estimate of $5.89 billion by 27%. The top line also increased 11% from the prior-year quarter’s level of $6.74 billion.
NRG Energy, Inc. Price, Consensus and EPS Surprise
NRG Energy, Inc. price-consensus-eps-surprise-chart | NRG Energy, Inc. Quote
Highlights of NRG’s Q2 Earnings Release
The company recorded adjusted EBITDA of $1.22 billion in the second quarter, up 33.9% from $0.91 billion registered a year ago.
Total operating costs and expenses were $6.54 billion, down 2.9% from $6.74 billion in the year-ago quarter.
Operating income in the second quarter totaled $976 million.
Through July 31, 2026, NRG completed $932 million in share repurchases and distributed $202 million in common stock dividends. In 2026, the company plans to return $1 billion through share repurchases and common stock dividends of around $407 million.
NRG Energy Advances Texas Expansion Plans
NRG advanced its Bring Your Own Power strategy with a global cloud and artificial intelligence hyperscaler. The parties are aligned on principal commercial terms for developing a 1.2-gigawatt combined-cycle natural gas generation facility in Texas, subject to final documentation and approvals.
The company also achieved commercial operations at the 415-megawatt T.H. Wharton facility. Its two other Texas Energy Fund projects remained on schedule and within budget.
NRG’s Financial Highlights
As of June 30, 2026, NRG had cash and cash equivalents worth $0.16 billion compared with $4.71 billion as of Dec. 31, 2025.
As of June 30, 2026, long-term debt and finance leases amounted to $21.74 billion compared with $16.41 billion as of Dec. 31, 2025.
Cash provided by operating activities in the first six months of 2026 totaled $0.95 billion compared with $1.31 billion in the year-ago quarter.
Capital expenditures amounted to $655 million in the first six months of 2026 compared with $595 million in the year-ago quarter.
Total liquidity was $5.28 billion, down from $9.63 billion, primarily due to funding the acquisition of generation assets and CPower from LS Power.
NRG’s Guidance
NRG Energy expects its 2026 adjusted net income to be in the range of $1.685-$2.115 billion.
The company expects its 2026 adjusted EPS to be in the range of $7.90-$9.90. The Zacks Consensus Estimate is pegged at $9.70, which is at the higher end of the company’s guided range.
Free Cash Flow before Growth for 2026 is anticipated to be in the range of $2.8-$3.3 billion.
NRG expects 2026 adjusted EBITDA in the band of $5.325-$5.825 billion.
NRG’s Zacks Rank
NRG Energy has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Edison International (EIX - Free Report) reported second-quarter 2026 core earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.02 by 51%. The bottom line surged 58.8% from 97 cents in the year-ago quarter.
Edison International's second-quarter operating revenues totaled $4.36 billion, which missed the Zacks Consensus Estimate of $4.72 billion by 7.7%. The top line also decreased 4.1% from the year-ago quarter’s figure of $4.54 billion.
IDACORP, Inc. (IDA - Free Report) reported second-quarter 2026 earnings of $1.79 per share, which topped the Zacks Consensus Estimate of $1.75 by 2.3%. The company’s earnings also improved 1.7% from $1.76 in the year-ago quarter.
Total revenues in the second quarter of 2026 were $469.8 million, lagging the Zacks Consensus Estimate of $478 million by 1.8%. However, the metric rose 4.2% from $450.9 million in the year-ago quarter.
PG&E Corporation (PCG - Free Report) reported second-quarter 2026 adjusted earnings per share of 40 cents, which beat the Zacks Consensus Estimate of 37 cents by 8.1%. The bottom line also increased 29% from the year-ago quarter’s figure of 31 cents.
PCG reported second-quarter total revenues of $5.902 billion, up 0.1% from $5.898 billion registered in the year-ago period. However, the top line missed the Zacks Consensus Estimate of $6.31 billion by 6.4%.