NRG Energy's first quarter 2026 earnings miss estimates while the company reaffirms its full-year guidance.

NRG Energy reported first quarter Adjusted EPS of $1.49 and revenue of $10.26 billion, missing analyst expectations of $1.65 and $10.36 billion, respectively. Despite the miss, the company reaffirmed its full-year 2026 guidance.

Key Highlights

• Management reaffirmed its full-year 2026 guidance, maintaining its forecast for Adjusted EBITDA in the range of $5.325 billion to $5.825 billion.
• The Texas segment's Adjusted EBITDA declined by $83 million year-over-year to $216 million, primarily driven by mild winter weather that led to a ~30% decrease in heating degree days and lower retail load.
• The company is progressing on its capital return plan, having completed $817 million in share repurchases through April 30, 2026, out of a planned $1.0 billion for the year.