NRG Energy updates 2026 guidance after LS Power asset acquisition

NRG Energy Inc. (NYSE: NRG) updated its 2026 financial guidance following the completion of its acquisition of a portfolio of assets from LS Power on January 30, 2026. The updated guidance reflects approximately 11 months of ownership of the acquired assets.

The company issued new guidance ranges for adjusted net income of $1.685 billion to $2.115 billion, with a midpoint of $1.9 billion. Adjusted earnings per share guidance was set at $7.90 to $9.90, with a midpoint of $8.90.

NRG also updated its previously issued guidance for adjusted EBITDA to $5.325 billion to $5.825 billion, with a midpoint of $5.575 billion. Free cash flow before growth guidance was revised to $2.8 billion to $3.3 billion, with a midpoint of $3.05 billion.

The guidance incorporates the expected contribution from the acquired portfolio while maintaining the company's previously communicated 2026 outlook for existing operations. The updated figures include approximately 90% of the acquired portfolio's estimated full-year 2026 contribution.

NRG plans to report its fourth quarter and full year 2025 financial results on February 24, 2026. Management will present the results during a conference call and webcast at 9:00 a.m. EST.

The company expects to provide additional detail on its long-term outlook during the earnings call. NRG stated the updated guidance remains consistent with its long-term financial growth framework.

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