NRG Energy, Inc. · NRG · Next earnings

NRG Energy, Inc. reports Thursday, Nov 5, 2026

NRG reports before market open with consensus EPS at $3.16 and revenue at $9.33B. Last quarter: NRG Energy Q1 2026: EPS Miss on Mild Weather, Revenue Beat as LS Power Integration Begins

Reports Before market open46 days awayDate estimated Utilities

What the street expects

Consensus for the coming report
Consensus EPS $3.16 Calendar consensus
Consensus revenue $9.33B Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 46 days away

Where NRG left off: FY2026 Q1

Full report

NRG Energy Q1 2026: EPS Miss on Mild Weather, Revenue Beat as LS Power Integration Begins

EPS surprise -16.4% Reported $1.48 vs $1.77
Revenue surprise +22.1% Reported $10.29B vs $8.43B
Stock move -4.3% Event window
Subsequent drift -11.5% Up to 20 sessions

Management reaffirmed full-year 2026 guidance at adjusted EPS of $8.90, adjusted EBITDA of $5.575 billion, and free cash flow of $3.05 billion, unchanged from the prior quarter. The longer-term target of at least 14% annual adjusted EPS and free cash flow growth through 2030 was also maintained. Capex outlook was characterized as stable, with $310 million in growth investments planned for 2026.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Weather volatility in ERCOT affecting load and pricing, as demonstrated by Q1 mild-weather impact
  • Regulatory uncertainty in PJM colocation rules and FERC directives, and Texas Senate Bill 6 and PUCT processes
  • Potential gas supply constraints and infrastructure costs for new build projects
  • Integration risk associated with the LS Power acquisition and new gas-fired build projects
  • Market price softness impacting margins and the returns on contracted assets

Questions analysts left open

  • Impact of mild weather on quarterly performance and offsets for the remainder of 2026
  • PJM regulatory and colocation rule developments affecting data-center contract structure
  • Utilization and return profile of the 5 GW Texas generation plan
  • Capital allocation pace, particularly the speed of share-repurchase execution
  • Timing and cost uncertainties for Texas Energy Fund project construction

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Recent NRG quarters

All NRG earnings
-4.3%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.