NRG Energy, Inc. updated its 2026 financial guidance following the completion of its acquisition of an LS Power asset portfolio on January 30, 2026. The revised outlook reflects approximately 11 months of ownership of the acquired assets during 2026 and incorporates their expected contribution into NRG’s previously communicated outlook, which the company said remains unchanged.

NRG is introducing guidance for Adjusted Net Income and Adjusted Earnings Per Share for the first time, while also updating its ranges for Adjusted EBITDA and Free Cash Flow before Growth. For 2026, the company now expects Adjusted Net Income of $1.685 billion to $2.115 billion and Adjusted EPS of $7.90 to $9.90. Adjusted EBITDA is projected at $5.325 billion to $5.825 billion, while Free Cash Flow before Growth is expected to range between $2.8 billion and $3.3 billion. The midpoint of guidance implies Adjusted Net Income of $1.9 billion, Adjusted EPS of $8.90, Adjusted EBITDA of $5.575 billion and Free Cash Flow before Growth of $3.05 billion.

The company said it will provide additional detail on its long-term outlook during its full-year and fourth-quarter 2025 earnings call, scheduled for February 24, 2026.

Source: NRG Energy, Inc.