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# NRG Energy Earns $561 Million And Agrees To $4 Billion Power-Plant Sale
- URL: https://www.bullished.co/nrg-energy-earns-561-million-and-agrees-to-4-billion-power-plant-sale-0cca26a6/
- Published: 2026-11-09T11:50:53.000Z
- Updated: 2026-11-09T11:50:53.000Z
- Description: Expected sale proceeds support $3 billion in buybacks across 2026 and 2027, plus $3 billion of planned debt reduction in 2027.
- Author: Matteo Parrino
- Tags: SEC Filings, NRG, Industry: Utilities

NRG Energy, which generates and sells electricity, supplies natural gas and provides smart-home services, reported third-quarter profit of $561 million Monday, up from $152 million a year earlier, and agreed to sell power plants for $4 billion. Its [earnings announcement](https://www.sec.gov/Archives/edgar/data/0001013871/000101387126000022/nrg-20261109.htm?ref=bullished.co) pairs stronger results with plans for larger share repurchases and debt repayments supported by the expected sale proceeds.

## East And Texas Lift Earnings

NRG's [adjusted profit](https://www.sec.gov/Archives/edgar/data/0001013871/000101387126000022/nrgq32026ex991.htm?ref=bullished.co) reached $983 million, compared with $537 million in last year's third quarter. Adjusted earnings per share rose to $4.68 from $2.78; basic earnings under standard accounting increased to $2.59 from $0.70.

Acquired generation assets, higher East-region payments for keeping generating capacity available and better Texas margins—including favorable weather—were the main profit drivers, NRG said. Higher interest costs and depreciation associated with the acquisition partly offset those gains, as did unrealized, non-cash losses on energy hedges.

Revenue reached $9,466 million, against $7,635 million a year earlier. Operating cash flow increased to $1,097 million from $484 million, while free cash flow before growth investments, NRG's adjusted measure, reached $1,242 million versus $828 million.

East-region adjusted earnings before interest, taxes, depreciation and amortization rose to $614 million from $107 million. Texas contributed $1,018 million versus $807 million, although its first-nine-month result remained slightly below last year's after mild winter weather.

NRG serves eight million customers across North America and operates approximately 25 gigawatts of generation. Its Vivint Smart Home business supplies connected security and automation devices with installation and monitoring; that segment's quarterly adjusted earnings before interest, taxes, depreciation and amortization increased to $317 million from $278 million as customer additions and recurring service margins improved.

## Six Plants Fund Cash Returns

The [planned plant sale](https://www.sec.gov/Archives/edgar/data/0001013871/000101387126000022/nrgq32026ex991.htm?ref=bullished.co) covers six natural-gas-fired facilities totaling 4.9 gigawatts, with LS Power agreeing to pay $4 billion in cash, subject to closing adjustments. NRG will retain the entire PJM portfolio and CPower bought in January 2026.

The expanded plan calls for $3 billion of share repurchases across 2026 and 2027, including an incremental $1 billion expected to begin before the fourth quarter of 2026 ends. Planned 2027 debt repayments total $3 billion: $1 billion in the base plan and another $2 billion upon closing. A remaining $1 billion of expected proceeds would be available for contracted growth investments or further debt reduction.

NRG President and CEO Robert Gaudette said in the release: “Today’s announcement is about returning more to our shareholders and supporting future growth investments.”

Through October 31, NRG had bought back $977 million of shares and paid $302 million in common dividends under its previously announced 2026 plan. Its 2027 base plan includes an 8% increase in the annual common dividend to $2.05 per share.

## 2027 Outlook Excludes The Sale

NRG kept its 2026 adjusted-profit outlook at $1,685 million–$2,115 million, with adjusted earnings of $7.90–$9.90 per share.

For 2027, management forecasts adjusted profit of $1,665 million–$2,075 million and adjusted earnings of $8.05–$10.05 per share. Those ranges exclude the expected effects of the plant sale.

NRG also said its previously announced 1.2-gigawatt data-center project remains on track. The approach pairs new generation with additional electricity demand.

NRG expects the plant sale to close in the second quarter of 2027 and plans to revise its financial outlook and cash-allocation plans after closing.

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- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — NRG ENERGY, INC. (NRG)](https://www.sec.gov/Archives/edgar/data/0001013871/000101387126000022/nrg-20261109.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit nrgq32026ex991.htm — NRG ENERGY, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001013871/000101387126000022/nrgq32026ex991.htm?ref=bullished.co) — SEC EDGAR