The company said its GAAP Net Income for full-year 2025 was $864 million, down from $1,125 million a year earlier, while Adjusted Net Income was $1,606 million, Adjusted EPS was $8.24, and Adjusted EBITDA was $4,087 million.

1. 01

   The company said its GAAP Net Income for full-year 2025 was $864 million, down from $1,125 million a year earlier, while Adjusted Net Income was $1,606 million, Adjusted EPS was $8.24, and Adjusted EBITDA was $4,087 million.

2. 02

   NRG said it completed the acquisition of 18 natural-gas and dual-fuel power plants totaling 13 GW and CPower's C&I demand response platform from LS Power on January 30, 2026. It said the transaction doubles its generation capacity.

3. 03

   The company said it returned $1.6 billion to shareholders in 2025, including $1.3 billion in share repurchases and $344 million in common stock dividends. It reaffirmed its capital allocation plan for 2026, which includes $1.0 billion in share repurchases and common stock dividends of about $400 million.

4. 04

   The company reaffirmed its 2026 outlook, which reflects about 11 months of ownership of the LS Power assets, and set Adjusted EBITDA guidance at $5,325 million to $5,825 million, Adjusted EPS at $7.90 to $9.90, and FCFbG at $2,800 million to $3,300 million.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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