NRG NRG Energy (NRG) Q2 FY26 earnings call
NRG Energy reported solid Q2 FY26 results, reaffirming its full-year guidance despite headwinds from lower Texas power prices and increased RGGI costs. The company announced significant progress on its large-load strategy, securing principal commercial terms for a 1.2 GW "Bring Your Own Power" project in Texas with a hyperscaler, designed to bring new generation to meet new demand. This project, targeting late 2029 commercial operation, is expected to generate $500 million in annual adjusted EBITDA and $375 million in free cash flow before growth, funded while maintaining the $1 billion annual
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NRG operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Change vs prior quarter |
|---|---|---|---|---|---|
| Customer retention rate Smart Home | <90%The business generated excellent results with a 5% increase in net subscriber count, an improved recurring monthly service margin of 83% and nearly 90% customer retention, which marks an all-time high for the business.Source: earnings call transcript | 90%+The segment continues to see consistent customer growth, expansion to its recurring service margins and record customer retention at over 90%.Source: earnings call transcript | — | — | — |
| Employees | — | — | 18KI'd like to pause to congratulate all 18,000 of our employees for that achievement.Source: earnings call transcript | 18KAs I approach the conclusion of my time as CEO, I want to thank all of our 18,000 employees for their incredible work and commitment, our customers for their trust and our shareholders for their support.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.