The Investor
09 Nov 2026, 18:58
NRG Energy Jumps 8% as Q3 Earnings Surge and $4 Billion Asset Sale Boosts Capital Returns
NRG Energy (NYSE: NRG) shares jumped about 8% after the company reported sharply higher third-quarter earnings, reaffirmed its 2026 outlook and announced a $4 billion asset sale that will support additional share repurchases and debt reduction.
Third-quarter adjusted EBITDA rose to $2.01 billion from $1.21 billion a year earlier, while adjusted net income increased to $983 million from $537 million. Adjusted EPS climbed to $4.68 from $2.78, and free cash flow before growth investments increased to $1.24 billion from $828 million.
Growth was driven by contributions from the LS Power portfolio, higher realized capacity prices in the East and stronger Texas margins, including favorable weather effects.
NRG reaffirmed its 2026 guidance, including adjusted EBITDA of $5.325-$5.825 billion, adjusted EPS of $7.90-$9.90 and free cash flow before growth investments of $2.8-$3.3 billion.
The company also announced a $4 billion agreement to sell selected generation assets, with proceeds expected to support higher share repurchases and debt reduction. In addition, NRG said its previously announced 1.2 GW Bring Your Own Power data center project remains on track.
The 8% share gain appears to reflect the combination of strong earnings growth, robust cash generation and the asset sale, which increases visibility into shareholder returns while preserving capital for future data center and power-market growth opportunities.
NRG Energy (NYSE: NRG) shares jumped about 8% after the company reported sharply higher third-quarter earnings, reaffirmed its 2026 outlook and announced a $4 billion asset sale that will support additional share repurchases and debt reduction.
Third-quarter adjusted EBITDA rose to $2.01 billion from $1.21 billion a year earlier, while adjusted net income increased to $983 million from $537 million. Adjusted EPS climbed to $4.68 from $2.78, and free cash flow before growth investments increased to $1.24 billion from $828 million.
Growth was driven by contributions from the LS Power portfolio, higher realized capacity prices in the East and stronger Texas margins, including favorable weather effects.
NRG reaffirmed its 2026 guidance, including adjusted EBITDA of $5.325-$5.825 billion, adjusted EPS of $7.90-$9.90 and free cash flow before growth investments of $2.8-$3.3 billion.
The company also announced a $4 billion agreement to sell selected generation assets, with proceeds expected to support higher share repurchases and debt reduction. In addition, NRG said its previously announced 1.2 GW Bring Your Own Power data center project remains on track.
The 8% share gain appears to reflect the combination of strong earnings growth, robust cash generation and the asset sale, which increases visibility into shareholder returns while preserving capital for future data center and power-market growth opportunities.
