NRG(US:NRG)2025-11-06 14:00Financial Performance & Guidance - NRG's Adjusted EPS for the third quarter of 2025 increased by 32% to $278 compared to $210 in 2024[16] - Year-to-date Adjusted EPS increased by 36% to $717 in 2025 compared to $528 in 2024[16] - The company reaffirmed its raised 2025 guidance for Adjusted Earnings per Share at $755 - $815, Adjusted EBITDA at $3875 - $4025 million, and Free Cash Flow before Growth at $2100 - $2250 million[16] - NRG initiated 2026 standalone financial guidance, excluding the LS Power portfolio acquisition, with Adjusted EBITDA projected at $3925 - $4175 million and Free Cash Flow before Growth at $1975 - $2225 million[17] Strategic Initiatives & Market Position - Data center agreements expanded to 445 MW, a 51% increase compared to the second quarter of 2025[27] - The company is targeting a price above $80/MWh for data center power agreements[27] - The LS Power portfolio acquisition is advancing toward an expected close in the first quarter of 2026, with an enterprise value of $12 billion at 75x '26E EV/EBITDA[14, 33] Capital Allocation - NRG plans to return at least $13 billion of capital to shareholders[20]