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Just reported
Q3 2026 results
From NRG Energy's results release of November 9, 2026; its quarterly report has since been filed.
Revenue
Actual
$9.47B
+24% y/y
+27% q/qGuided
—
No guide given
EPS, GAAP
Actual
$2.59
+275% y/y
+12% q/qGuided
—
No guide given
EPS, adjusted: $4.68
Operating income, GAAP
Actual
$1.08B
+162% y/y
+11% q/qGuided
—
No guide given
Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.
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The themes NRG Energy is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
The theme it is part of
Highest-graded in Utilities Independent Power Producers
Graded A or B and worth $2B or more: A first, then the largest.
CEGConstellation Energy Corporation$97.3BA+
VSTVistra Corp.$45.3BB+
TLNTalen Energy Corporation$16.5BB-
KENKenon Holdings Ltd.$3.2BB
Grade rose recently in Utilities
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
- CEGConstellation Energy CorporationNov 9, 2026BAGraded B, now A
- VSTVistra Corp.Nov 9, 2026CBGraded C, now B
AESThe AES CorporationNov 3, 2026CBGraded C, now B
KEPKorea Electric Power CorporationSep 15, 2026CAGraded C, now A
How it makes money
- Electricity, natural gas and related energy services in eastern markets63%
- Electricity, natural gas and related energy services in Texas23%
- Smart-home equipment, installation and monitoring6%
- Electricity, natural gas and related energy services in western markets and other activities8%
Shares of revenue are estimates for quarter ended 2026-03-31, not figures from a filing.
Competes with
What it sells6
Retail electricity
Electricity plans for households and businesses, with prices that can be fixed, linked to market prices or charged month to month.
Natural gas supply
Natural gas sold to residential, commercial, industrial and wholesale customers, supported by supply, transportation and storage arrangements.
Power generation
Electricity produced at NRG-owned power plants and sold to customers or into wholesale electricity markets.
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Demand response and virtual power plants
Programs that coordinate changes in customers' electricity use or other available power resources to help manage demand on the electricity system.
Vivint smart-home systems
Installed cameras, locks, lights, thermostats and safety sensors that customers can manage through an app, with installation, technical support and professional monitoring.
Business energy management and backup power
Services and equipment for business customers, including energy management, energy storage and distributed or backup generation.
Who buys it5
- Households that choose retail electricity or natural gas plans through NRG's brands, websites, call centers, sales staff or partners.
- Small businesses that buy electricity, natural gas and related energy services.
- Commercial and industrial customers, including data centers and government customers, that buy energy or services such as demand response, energy management and backup power.
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- Utilities and other wholesale buyers and sellers that trade electricity or natural gas with NRG.
- Homeowners who buy Vivint equipment, installation and ongoing security or automation services.
What it stands on, and what could break it
What the business leans on
- 1NRG relies on electricity transmission and distribution networks owned by other companies to deliver power to many customers.
- 2It relies on outside natural-gas suppliers and on transportation and storage assets it does not own or control.
- 3Its retail sales and power plants depend on state and provincial rules, wholesale-market rules and the operation of regional electricity markets.
- 4Fuel availability, power prices, weather and customer demand affect the cost of serving energy customers and the output or market value of power plants.
- 5NRG completed the purchase of the LSP Portfolio in January 2026, adding power plants and the CPower demand-response business; integrating acquired operations is an important current business dependency.
What could go wrong
- 1Changes in electricity and natural-gas prices, supply costs and customer demand can squeeze the difference between the cost of serving retail customers and the revenue from their contracts; hedges and trading arrangements can also create losses.
- 2State, provincial and wholesale-market rule changes can affect which retail products NRG may sell, how power plants are paid and what costs the company must bear. Environmental requirements can also require plant upgrades or limit operations.
- 3Power plants can suffer outages or fuel interruptions, while construction and upgrades can be delayed or cost more than planned. Those problems can reduce electricity sales or leave NRG with costs it cannot recover.
About NRG Energy, Inc.
NRG sells electricity and natural gas to residential, commercial, industrial, data-center and wholesale customers. It also owns and operates power plants that generate electricity, and provides services that can help customers adjust or manage their energy use. Through Vivint, it installs smart-home equipment such as cameras, locks and sensors, and provides monitoring and customer support. NRG served approximately 8 million residential customers (June 30, 2026, high), and its competitive power-generation capacity was approximately 25 gigawatts (June 30, 2026, medium).
- Head office
- Houston, Texas
- Founded
- 1989
- Employees
- 16,702 (December 31, 2025, high)
- Listed on
- NYSE
- Financial year ends
- December 31
Built from NRG Energy, Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.
