NRG Energy (NRG) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$1.70

$1.24$2.04

vs $1.73-1.7%

5 analysts

Next Qtr

$2.91

$2.15$3.81

vs $2.78+4.7%

5 analysts

Current Yr

$9.24

$8.26$10.14

vs $8.24+12.2%

10 analysts

Next Yr

$11.63

$10.18$13.04

vs $9.24+25.8%

11 analysts

Revenue Estimates

Current Qtr

$7.51B

$6.59B$8.47B

vs $6.74B+11.3%

5 analysts

Next Qtr

$8.78B

$7.74B$9.91B

vs $7.63B+14.9%

5 analysts

Current Yr

$34.94B

$31.01B$41.42B

vs $30.71B+13.8%

9 analysts

Next Yr

$36.39B

$29.64B$47.22B

vs $34.94B+4.2%

9 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for NRG on EDGAR.

NRG filing events and research context
Filed	Item	Context
May 6, 2026	mda_quarterly	NRG is transitioning to an integrated retail and generation model, highlighted by the January 2026 acquisition of the LSP Portfolio, which added 13 GW of natural gas-fired capacity and the CPower demand response platform. While Q1 2026 revenue increased to $10.3 billion, net income declined to $125 million from $750 million in the prior year. Liquidity decreased to $3.3 billion following the $6.4 billion cash outlay for the LSP acquisition. The company is leveraging the Texas Energy Fund to develop the T.H. Wharton, Cedar Bayou 5, and Greens Bayou 6 facilities to meet rising demand from data centers and electrification. Key regulatory risks include Maryland’s SB 1 price caps on residential contracts and PJM’s evolving capacity auction and large-load interconnection reforms. Environmental headwinds persist via EPA GHG emission standards and MATS rule revisions. Geopolitical volatility in the Middle East remains a risk to natural gas pricing and collateral requirements. Capital allocation remains aggressive, with $819 million in share repurchases through April 2026 and an increased annual dividend of $1.90 per share.
Feb 24, 2026	business	NRG provides electricity, natural gas, and smart-home technology through Vivint, serving approximately 8 million residential customers alongside commercial, industrial, and wholesale clients. The company significantly expanded its generation footprint in January 2026 by acquiring the LSP Portfolio, adding 18 natural gas-fired and dual fuel facilities totaling 13 GW and the CPower demand response platform. This acquisition, funded by $6.4 billion in cash and 24.25 million shares, effectively doubled NRG's generation capacity. Additionally, NRG acquired 738 MW of natural gas assets in Texas and is developing several new facilities, including Greens Bayou 6 and Cedar Bayou 5, while partnering with GE Vernova to construct up to 5.4 GW of combined cycle generation. In 2025, NRG reported total revenue of $30.7 billion and net income of $864 million. Capital allocation focuses on aggressive shareholder returns, evidenced by $1.3 billion in 2025 share repurchases and a target annual dividend growth rate of 7-9%. To fund its expansion and acquisitions, the company issued $4.9 billion in new secured and unsecured notes. Primary financial risks include commodity price volatility for natural gas and electricity, counterparty credit exposure, and environmental compliance costs associated with its coal fleet.
Feb 24, 2026	mda	NRG operates a diversified portfolio serving 8 million residential customers across retail energy and Vivint smart-home solutions, with 12 GW of competitive power generation primarily in Texas. The company is positioning for significant load growth driven by GenAI and data center expansion, which could add 500 TWh of incremental U.S. demand by 2030. To expand capacity, NRG acquired the LSP Portfolio in January 2026, adding 13 GW of natural gas-fired generation and the CPower demand response platform, and acquired 738 MW of Texas gas assets in April 2025. Additionally, a strategic agreement with GE Vernova targets the development of up to 5.4 GW of new gas-fired generation. Financial performance in 2025 showed total revenue increasing to $30.7 billion, though net income declined to $864 million from $1.1 billion in 2024. Profitability remains sensitive to natural gas price volatility, with Henry Hub prices rising 51% to $3.43 per MMBtu in 2025. NRG maintains an aggressive capital return strategy, completing $1.3 billion in share repurchases in 2025 and increasing the annual dividend to $1.90 per share. Liquidity was bolstered by $4.9 billion in new secured and unsecured notes to fund strategic acquisitions and debt refinancing.

Filed

Item

Context

May 6, 2026

mda_quarterly

NRG is transitioning to an integrated retail and generation model, highlighted by the January 2026 acquisition of the LSP Portfolio, which added 13 GW of natural gas-fired capacity and the CPower demand response platform. While Q1 2026 revenue increased to $10.3 billion, net income declined to $125 million from $750 million in the prior year. Liquidity decreased to $3.3 billion following the $6.4 billion cash outlay for the LSP acquisition. The company is leveraging the Texas Energy Fund to develop the T.H. Wharton, Cedar Bayou 5, and Greens Bayou 6 facilities to meet rising demand from data centers and electrification. Key regulatory risks include Maryland’s SB 1 price caps on residential contracts and PJM’s evolving capacity auction and large-load interconnection reforms. Environmental headwinds persist via EPA GHG emission standards and MATS rule revisions. Geopolitical volatility in the Middle East remains a risk to natural gas pricing and collateral requirements. Capital allocation remains aggressive, with $819 million in share repurchases through April 2026 and an increased annual dividend of $1.90 per share.

Feb 24, 2026

business

NRG provides electricity, natural gas, and smart-home technology through Vivint, serving approximately 8 million residential customers alongside commercial, industrial, and wholesale clients. The company significantly expanded its generation footprint in January 2026 by acquiring the LSP Portfolio, adding 18 natural gas-fired and dual fuel facilities totaling 13 GW and the CPower demand response platform. This acquisition, funded by $6.4 billion in cash and 24.25 million shares, effectively doubled NRG's generation capacity. Additionally, NRG acquired 738 MW of natural gas assets in Texas and is developing several new facilities, including Greens Bayou 6 and Cedar Bayou 5, while partnering with GE Vernova to construct up to 5.4 GW of combined cycle generation. In 2025, NRG reported total revenue of $30.7 billion and net income of $864 million. Capital allocation focuses on aggressive shareholder returns, evidenced by $1.3 billion in 2025 share repurchases and a target annual dividend growth rate of 7-9%. To fund its expansion and acquisitions, the company issued $4.9 billion in new secured and unsecured notes. Primary financial risks include commodity price volatility for natural gas and electricity, counterparty credit exposure, and environmental compliance costs associated with its coal fleet.

Feb 24, 2026

mda

NRG operates a diversified portfolio serving 8 million residential customers across retail energy and Vivint smart-home solutions, with 12 GW of competitive power generation primarily in Texas. The company is positioning for significant load growth driven by GenAI and data center expansion, which could add 500 TWh of incremental U.S. demand by 2030. To expand capacity, NRG acquired the LSP Portfolio in January 2026, adding 13 GW of natural gas-fired generation and the CPower demand response platform, and acquired 738 MW of Texas gas assets in April 2025. Additionally, a strategic agreement with GE Vernova targets the development of up to 5.4 GW of new gas-fired generation. Financial performance in 2025 showed total revenue increasing to $30.7 billion, though net income declined to $864 million from $1.1 billion in 2024. Profitability remains sensitive to natural gas price volatility, with Henry Hub prices rising 51% to $3.43 per MMBtu in 2025. NRG maintains an aggressive capital return strategy, completing $1.3 billion in share repurchases in 2025 and increasing the annual dividend to $1.90 per share. Liquidity was bolstered by $4.9 billion in new secured and unsecured notes to fund strategic acquisitions and debt refinancing.

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NRG filing events and research context

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