NRG · 10-Q · 2026Q3

NRG ENERGY, INC.

Filed 2026-11-09 · Utilities · View original filing on EDGAR

Everything NRG's SEC filings said, ranked

Ranked Events

• Capital Expenditure ProgramImportance 83 · Surprise 82
  Cash provided by operating activities was $2.045 billion for the nine months ended September 30, 2026, compared with $1.790 billion in 2025, an increase of $255 million. Cash used in investing activities rose to $8.191…
• Interest Expense IncreaseImportance 75 · Surprise 64
  Interest expense for the nine months ended September 30, 2026 increased $399 million, or 80.1%, to $897 million from $498 million. Third-quarter interest expense rose $115 million to $302 million from $187 million.…
• Acquisition / Partnership / DivestitureImportance 71 · Surprise 60
  On January 30, 2026, NRG completed its $10.572 billion acquisition of the LSP Portfolio, funded with $6.844 billion in cash and $3.728 billion in NRG shares. The portfolio added natural-gas-fired and dual-fuel…
• Segment ProfitabilityImportance 69 · Surprise 64
  For the nine months ended September 30, 2026, consolidated operating income was $2.388 billion, compared with $1.548 billion in the prior-year period, an increase of approximately 54%. Texas reported $1.088 billion of…
• Capital Return ProgramImportance 65 · Surprise 60
  NRG completed its $3.7 billion share-repurchase authorization during the quarter ended March 31, 2026; repurchases under that authorization totaled 46,570,688 shares for $3.7 billion. The company had a separate $3.0…
• Portfolio Reshaping (M&A / Divestiture)Importance 59 · Surprise 60
  On November 9, 2026, NRG entered into a definitive agreement to sell six natural-gas-fired generation assets totaling 4.9 GW to LS Power for cash proceeds, subject to working capital and other closing adjustments. The…
• Revenue Performance and MixImportance 59 · Surprise 48
  Revenue for the nine months ended September 30, 2026 was $27.203 billion, up 18.5% from $22.960 billion in 2025; third-quarter revenue was $9.466 billion, up 24.0% from $7.635 billion. Nine-month revenue by segment was…
• Outstanding IndebtednessImportance 58 · Surprise 42
  On April 28, 2026, NRG and APX Group established $900 million of new term loans under the Sixteenth Amendment to the Credit Agreement. That day, NRG issued $2.1 billion of new senior unsecured notes and $500 million of…
• Liquidity and Debt PositionImportance 58 · Surprise 56
  NRG’s liquidity, excluding funds deposited by counterparties, declined $3.6 billion from $9.628 billion at December 31, 2025 to $6.027 billion at September 30, 2026, primarily because of funding the LS Power…
• Operating Expense TrendsImportance 52 · Surprise 56
  Operations and maintenance expense increased $237 million for the nine months ended September 30, 2026, to $1.355 billion, primarily reflecting the LSP Portfolio acquisition. Other cost of operations increased $48…
• Regional Power Price TrendsImportance 51 · Surprise 64
  For the nine months ended September 30, 2026, average on-peak prices increased in East markets, including PJM-West Hub to $89.42/MWh from $58.13/MWh and PJM-Dominion to $106.21/MWh from $73.23/MWh. NY J/NYC rose to…
• PJM Capacity Auction OutlookImportance 50 · Surprise 24
  PJM announced the 2028/2029 Base Residual Auction results on July 14, 2026, with the price at the FERC-approved cap of $325 per MW-day across the PJM footprint. NRG cleared approximately 6,839 MW from its PJM…
• Purchase Commitments and ObligationsImportance 50 · Surprise 24
  As of September 30, 2026, NRG had entered into additional long-term contractual arrangements for purchased energy, including power purchases, gas transportation and storage, and fuel and transportation services. These…
• Regulatory RiskImportance 47 · Surprise 60
  New York’s 2019 Retail Reset Order limits energy service company offers to three compliant electric and natural-gas products, including fixed-rate products priced no more than 5% above the trailing 12-month average…
• Texas Energy Fund FinancingImportance 46 · Surprise 42
  Texas’s SB 2627 created the Texas Energy Fund to support dispatchable generation and smaller backup generation in ERCOT through grants and 3% loans. NRG received PUCT approval for loans totaling more than 1,500 MW of…
• Gross Margin DriversImportance 44 · Surprise 24
  For the nine months ended September 30, 2026, gross margin increased $987 million and economic gross margin increased $1.1 billion compared with 2025. Texas economic gross margin rose from $3.067 billion to $3.087…
• Remaining Performance ObligationsImportance 43 · Surprise 6
  As of September 30, 2026, estimated fixed-fee performance obligations include $2.7 billion for fiscal 2027, $2.5 billion for 2028, $1.7 billion for 2029, and $1.0 billion for 2030. They include Vivint Smart Home…
• Texas Large Load RegulationImportance 40 · Surprise 42
  Texas SB 6, signed June 20, 2025, establishes requirements concerning ERCOT planning and service for large loads of at least 75 MW, including interconnection, curtailment, co-location, forecasting, and transmission…
• Maryland Retail Market RestrictionsImportance 40 · Surprise 42
  Maryland SB 1, signed May 9, 2024, restricts competitive retail electricity and natural gas sales to residential customers; key provisions took effect January 1, 2025. The law caps prices for non-renewable residential…
• Acquisition Debt RefinancingImportance 40 · Surprise 42
  On April 14, 2026, Lightning commenced a tender offer for all of its 2032 Notes and solicited amendments to remove substantially all restrictive covenants and release guarantees and collateral. Holders tendered and…

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Revenue by Geography (in millions)