Citi Research Global Technology, Communications, Real Estate, Energy, and Industrials February 23, 2026 Data Center GAINs (Gen AI Names) Multi-Asset Strong Absorption Supports Solid 2026 and LT Data Center Demand | Equities | | | | | ABS | | --- | --- | --- | --- | --- | --- | | Michael Rollins, CFAAC +1 212 816-3116 | Heath TerryAC +1 212 723-4624 | Caitlyn Walsh caitlyn.walsh@citi.com | | | | | michael.rollins@citi.com | heath.terry@citi.com | | | | | | Siraj Ahmed AC | AC Scott Gruber | Andrew KaplowitzA ...

Core Insights - NRG Energy is a significant player in the electric power industry, focusing on power generation and retail electricity services, with a mixed recent financial performance [1] Financial Performance - For Q4 2026, NRG reported an adjusted EPS of $1.04, surpassing the estimated $1.02, but down from $1.56 in the same quarter last year, reflecting a decline of approximately 33.3% [2] - The company's revenue for the same quarter was $7.76 billion, significantly exceeding the estimated $6.65 billion, and consistent with the previous quarter's revenue of $7.75 billion, which exceeded expectations by 45.87% [2][3] - NRG has consistently outperformed revenue estimates over the past four quarters, despite the year-over-year decline in EPS [3] Strategic Outlook - NRG projects its 2026 adjusted EPS to be between $7.90 and $9.90, with EBITDA expected to range from $5.32 billion to $5.82 billion [3] - The CEO emphasized strategic advancements such as expanding generation capacity and enhancing demand response capabilities to navigate the ongoing power demand supercycle [3] Financial Metrics - NRG has a high debt-to-equity ratio of approximately 6.15, indicating a reliance on debt financing [4] - The company's current ratio is 1.05, suggesting adequate short-term liquidity [4] - Despite financial challenges, NRG's strategic initiatives and focus on shareholder returns demonstrate a commitment to long-term growth and stability [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year ended December 31, 2025. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition period from to . Securities registered pursuant to Section 12(b) of the Act: Commission file No. 001-15891 NRG Energy, Inc. (Exact name of registrant as specified in its charter) Delaware ...

NRG Energy (NRG) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $1.01 per share. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +1.98%. A quarter ago, it was expected that this power company would post earnings of $2.26 per share when it actually produced earnings of $2.75, delivering a surprise of +21.68%.Over the last four quarters, the company ...

Key Takeaways NRG Energy Q4 EPS of $1.03 beat estimates by 2% but fell 32.2% year over year.NRG posted $7.75B in Q4 revenues, up 13.7% and 45.9% above consensus.NRG sees 2026 adjusted EPS of $7.90-$9.90 and EBITDA of $5.325-$5.825B.NRG Energy, Inc. (NRG)  reported fourth-quarter 2025 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of $1.01 by 2%. However, the bottom line decreased 32.2% from the year-ago quarter.Revenues of NRG EnergyTotal revenues were $7.75 billion, which beat the Zac ...

NRG Energy (NYSE:NRG) Q4 2025 Earnings call February 24, 2026 09:00 AM ET Company ParticipantsBill Appicelli - Head Executive Director of Power and Utilities ResearchBrad Bentley - President of NRG ConsumerBrendan Mulhern - Head of Investor RelationsBruce Chung - CFOLarry Coben - CEOMichael Sullivan - Director of Equity ResearchRobert Gaudette - PresidentShar Pourreza - Managing Director and Head of North American Power, Infrastructure, and UtilitiesConference Call ParticipantsAndrew Weisel - Director and S ...

NRG Energy (NYSE:NRG) Q4 2025 Earnings call February 24, 2026 09:00 AM ET Company ParticipantsBill Appicelli - Head Executive Director of Power and Utilities ResearchBrad Bentley - President of NRG ConsumerBrendan Mulhern - Head of Investor RelationsBruce Chung - CFOLarry Coben - CEOMichael Sullivan - Director of Equity ResearchRobert Gaudette - PresidentShar Pourreza - Managing Director and Head of North American Power, Infrastructure, and UtilitiesConference Call ParticipantsAndrew Weisel - Director and S ...

NRG Energy (NYSE:NRG) Q4 2025 Earnings call February 24, 2026 09:00 AM ET Speaker12Please be advised that today's conference is being recorded. I would now like to hand the call over to your first speaker today, Brendan Mulhern, Head of Investor Relations. Please go ahead.Speaker3Thank you. Good morning, welcome to NRG Energy's fourth quarter and full year 2025 earnings call. This morning's call is being broadcast live over the phone and via webcast. The webcast presentation and earnings release can be loca ...

(NYSE: ET) delivered a mixed fourth quarter 2025 performance, posting $25.32 billion in revenue while net income declined…]## Beyond Tesla and Nvidia: 2 Overlooked Robotics Stocks Just Blew Out Earnings[Eric Bleeker | Feb 20, 2026 at 8:44 AM EST Everyone knows NVIDIA (NASDAQ:NVDA | NVDA Price Prediction) and Tesla (NASDAQ:TSLA) are the marquee names in robotics and autonomous systems.…]## Does Western Union's Earnings Beat Mean Its Transition Is Working?[Trey Thoelcke | Feb 20, 2026 at 8:45 AM EST Western U ...

N R G E N E R G Y I N C . FOURTH QUARTER AND FULL YEAR 2025 EARNINGS PRESENTATION February 24, 2026 1 SAFE HARBOR Forward-Looking Statements A G E N D A Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, general economic conditions, the imposition of tariffs and escalation ...