On May 12, 2025, NRG Energy, Inc. reported strong first-quarter 2025 financial results, with GAAP Net Income of $750 million and Adjusted EPS of $2.68, an increase of $1.22 year-over-year. Adjusted EBITDA reached $1,126 million, a $256 million improvement from the prior year, driven by strong performance across all segments.
The company reaffirmed its 2025 financial guidance, including Adjusted EPS of $6.75 - $7.75 and FCFbG of $1,975 - $2,225 million. NRG also reiterated its 2025 capital allocation plan, targeting $1.3 billion in share repurchases and approximately $345 million in common stock dividends, having already returned $532 million to shareholders through April 30, 2025.
Concurrently, NRG announced a definitive agreement to acquire a premier power portfolio from LS Power for approximately $12 billion. This transformative acquisition includes 13 GW of natural gas-fired generation and a 6 GW commercial and industrial Virtual Power Plant business, expected to double NRG's generation fleet and close in Q1 2026.
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