NRG · 10-Q · 2026Q2 · Full report
Operating Expense Trends
NRG ENERGY, INC. · 2026-08-04 · Importance 26 · Surprise 24 · No source text
Six-month operations and maintenance expense increased $173 million, primarily from the LSP Portfolio, the final property-insurance claim for the W.A. Parish outage received in 2025, and higher Vivint Smart Home and retail operating costs. Depreciation and amortization increased $256 million, primarily because of the LSP Portfolio and higher amortization of capitalized contract costs, partly offset by a $50 million reduction from the roll-off of acquired Vivint Smart Home intangibles. Selling, general and administrative expense decreased $118 million to $1.155 billion, driven by a $184 million reduction in legal reserves for matters settled in 2025, partly offset by acquisition-related costs, higher broker commissions, marketing, and personnel expense. Acquisition-related transaction and integration costs increased to $61 million from $51 million.
Key facts
- Operations and maintenance expense increased by $173 million for the six months ended June 30, 2026, compared to the same period in 2025 source
- Depreciation and amortization increased by $256 million for the six months ended June 30, 2026, compared to the same period in 2025 source
- Selling, general and administrative costs decreased by $118 million for the six months ended June 30, 2026, compared to the same period in 2025 source
- Customer relationships and other intangible assets accumulated amortization as of June 30, 2026: $4,256 million (compared to $3,988 million at December 31, 2025). source
- Depreciation and accumulated depreciation of property, plant and equipment as of June 30, 2026: accumulated depreciation $1,930 million (compared to $1,774 million at December 31, 2025). source
- Other cost of operations increased by $21 million for the six months ended June 30, 2026, compared to the same period in 2025 source
- Depreciation and amortization increased by $150 million for the three months ended June 30, 2026, compared to the same period in 2025 source
- Selling, general and administrative costs decreased by $162 million for the three months ended June 30, 2026, compared to the same period in 2025 source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -3.5% | Depreciation and amortization increased by $256 million for the six months ended June 30, 2026, compared to the same period in 2025 |
| margin | negative | realized | -3.5% | Depreciation and amortization increased by $256 million for the six months ended June 30, 2026, compared to the same period in 2025 |
| operating_income | negative | realized | -2.4% | Operations and maintenance expense increased by $173 million for the six months ended June 30, 2026, compared to the same period in 2025 |
| operating_income | positive | realized | +1.6% | Selling, general and administrative costs decreased by $118 million for the six months ended June 30, 2026, compared to the same period in… |
| margin | positive | realized | +1.6% | Selling, general and administrative costs decreased by $118 million for the six months ended June 30, 2026, compared to the same period in… |
| assets | negative | realized | -0.7% | Customer relationships and other intangible assets accumulated amortization as of June 30, 2026: $4,256 million (compared to $3,988… |
| net_income | negative | realized | — | Depreciation and amortization increased by $256 million for the six months ended June 30, 2026, compared to the same period in 2025 |
| net_income | positive | realized | — | Selling, general and administrative costs decreased by $118 million for the six months ended June 30, 2026, compared to the same period in… |