NRG Energy Q4 Earnings and Revenues Surpass Expectations

NRG Energy, Inc. NRG reported fourth-quarter 2025 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of $1.01 by 2%. However, the bottom line decreased 32.2% from the year-ago quarter.

Revenues of NRG Energy

Total revenues were $7.75 billion, which beat the Zacks Consensus Estimate of $5.32 billion by 45.9%. The top line also increased 13.7% from the prior-year quarter’s level of $6.82 billion.

Full-year 2025 revenues totaled $30.71 billion compared with $28.13 billion last year.

Highlights of NRG’s Q4 Earnings Release

The company recorded adjusted EBITDA of $847 million in the fourth quarter, down 6.1% from $902 billion registered a year ago.

Total operating costs and expenses in 2025 amounted to $28.84 billion, up 11.3% from $25.91 billion in the prior year.

Operating income for the year totaled $1.85 billion compared with $2.42 billion last year.

In 2025, the company returned $1.6 billion to shareholders through $1.3 billion in share repurchases and $344 million in common stock dividends.

NRG’s Financial Highlights

As of Dec. 31, 2025, NRG had cash and cash equivalents worth $4.71 billion compared with $0.97 billion as of Dec. 31, 2024.

As of Dec. 31, 2025, long-term debt and finance leases amounted to $16.41 billion compared with $9.81 billion as of Dec. 31, 2024.

Cash provided by operating activities in 2025 totaled $1.91 billion compared with $2.31 billion last year.

Capital expenditures summed at $1.15 billion in 2025 compared with $0.47 billion last year.

NRG’s Guidance

NRG Energy expects its 2026 adjusted net income to be in the range of $1.685-$2.115 billion.

The company expects its 2026 adjusted EPS to be in the range of $7.90-$9.90. The Zacks Consensus Estimate is pegged at $9.79, which is at the higher end of the company’s guided range.

Free Cash Flow before Growth for 2026 is anticipated to be in the range of $2.8-$3.3 billion.

NRG projects 2026 adjusted EBITDA in the band of $5.325-$5.825 billion.

NRG’s Zacks Rank

NRG Energy has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Releases

Dominion Energy Inc. D delivered fourth-quarter 2025 operating earnings of 68 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 6.3%. The bottom line increased 17.2% from the year-ago quarter's level. 

Revenues of $4.09 billion topped the Zacks Consensus Estimate of $3.56 billion by 14.9%. The top line increased 20.4% from $3.4 billion in the year-ago quarter.

FirstEnergy Corp. FE registered fourth-quarter 2025 operating earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 52 cents by 1.92%. In the year-ago quarter, the company reported earnings of 67 cents.

Operating revenues of $3.78 billion surpassed the Zacks Consensus Estimate of $3.25 billion by 16.9%. The top line increased 19.6% from $3.18 billion in the year-ago quarter.

IDACORP, Inc. IDA reported fourth-quarter 2025 earnings of 78 cents per share, which topped the Zacks Consensus Estimate of 74 cents by 5.4%. The company’s earnings improved 11.4% from 70 cents in the year-ago quarter.

Total revenues in the fourth quarter of 2025 were $405.2 million, lagging the Zacks Consensus Estimate of $417 million by 2.9%. The metric climbed 1.8% from $398.1 million in the year-ago quarter.

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This article originally published on Zacks Investment Research (zacks.com).

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