NRG · 8-K · 20260804PR000018

Free Cash Flow

NRG ENERGY, INC. · 2026-08-04 · Importance 60 · Surprise 24 · In source text

NRG forecasts 2026 cash provided by operating activities of $3.000 billion to $3.480 billion. Adjusted cash provided by operating activities is projected at $3.110 billion to $3.590 billion after adding back $110 million of acquisition and other costs. Interest payments are expected to total $1.100 billion, while income-tax payments are projected at $70 million to $90 million. Free Cash Flow before Growth Investments is guided to $2.800 billion to $3.300 billion.

Key facts

• 2026 Adjusted EBITDA used in FCFbG reconciliation: $5,325 - $5,825 source
• 2026 Free Cash Flow before Growth Investments (FCFbG) guidance: $2,800 - $3,300 source
• Free Cash Flow before Growth Investments (FCFbG) for the second quarter of 2026: $1,025 million source
• NRG defines Free Cash Flow before Growth Investments as Adjusted Cash provided/(used) by operating activities less maintenance and environmental capital expenditures (net of funding and insurance recoveries related to property, plant and equipment) and adjustments to exclude cost of acquisition related to growth source

Impact estimates