# NRG Energy Q3 2026 Earnings Results

> NRG Energy reports $4 billion asset sale and $3 billion share repurchase plan.
- Title: NRG Energy Q3 2026 Earnings Results · The Motley Fool
- Summary: NRG Energy reports $4 billion asset sale and $3 billion share repurchase plan. NRG Energy announced a $4 billion sale of natural gas generation assets to LS…
- Keywords: nrg energy, ls power, share repurchase, asset sale, adjusted ebitda, 2027, texas, pjm, ercot, rggi, The Motley Fool
- Source: The Motley Fool — https://fool.com/earnings/call-transcripts/2026/11/09/nrg-energy-nrg-q3-2026-earnings-call-transcript
- Author: Motley Fool Transcribing
- Published: 2026-11-09T20:54:43+00:00
- Read time: 2 min
- Topics: nrg energy, ls power, share repurchase, asset sale, adjusted ebitda, 2027, texas, pjm, ercot, rggi, finance, money
## Q3 2026 Results
NRG Energy reported adjusted EBITDA of $2,013 million for Q3 2026, a 67% increase from prior year.
## Asset Sale to LS Power
NRG Energy agreed to sell six natural gas-fired generation facilities totaling 4.9 gigawatts to LS Power for $4 billion.
## Valuation Multiple
The asset sale achieved an 8.0x expected 2027 adjusted EBITDA valuation multiple.
## Share Repurchase Program
NRG Energy initiated an incremental $1 billion share repurchase program, bringing total planned repurchases to $3 billion for 2026-2027.
## Debt Reduction Target
NRG Energy plans to reduce debt by $2 billion upon closing the asset sale to maintain current leverage profile.
## Texas Segment Performance
Texas segment adjusted EBITDA increased $211 million year-over-year due to higher retail margins and favorable weather conditions.
## East Segment Performance
East segment adjusted EBITDA increased $507 million year-over-year driven by new generation assets and higher capacity revenues.
## Vivint Smart Home
Vivint Smart Home reported adjusted EBITDA of $317 million, a 14% year-over-year increase supported by customer growth and record recurring service margins.
## 2027 EBITDA Outlook
NRG Energy expects adjusted EBITDA of $5,500 million to $6,000 million for 2027, excluding the impact of the asset sale.
## 2027 EPS Guidance
NRG Energy targets adjusted EPS of $8.05 to $10.05 for 2027, despite higher interest expense and depreciation.
## RGGI Compliance Costs
NRG Energy expects $100 million in RGGI compliance costs for 2027, an increase of $30 million from 2026 expectations.
## Texas Energy Fund
NRG Energy expects 4 terawatt hours of annual generation from two plants scheduled to enter service in 2028.
## Data Center Project
NRG Energy plans to develop a 1.2 gigawatt data center project with initial capital allocation of $721 million.
## Residential Load Growth
Texas residential load growth is 3% population-driven, independent of data center requirements.
## Jack County Valuation
Jack County facility valuation is $1,400 per kilowatt, compared to $1,000 per kilowatt for new gas generation in Texas.
## 2027 Capital Allocation
NRG Energy plans to allocate $2 billion toward debt reduction and $1 billion toward share repurchases following the asset sale.
## Key takeaway

NRG Energy announced a $4 billion sale of natural gas generation assets to LS Power for 8.0x 2027 adjusted EBITDA and increased share repurchases by $1 billion to $3 billion total for 2026-2027.