Talen Energy Corp Stock Price, News & Analysis

Talen Energy (NASDAQ: TLN) has scheduled the release of its first quarter 2025 financial results on Thursday, May 8, 2025, before market open. The company will host an earnings conference call at 9:00 a.m. EDT (8:00 a.m. CDT) on the same day.

President and CEO Mac McFarland and CFO Terry Nutt will lead the discussion of the company's financial and operating results. Interested participants can pre-register for the webcast or obtain dial-in information for phone participation. A digital replay of the earnings call will be available for approximately one year on Talen's Investor Relations website.

Talen Energy (NASDAQ: TLN) reported strong financial results for full year 2024, with GAAP Net Income of $998 million, Adjusted EBITDA of $770 million, and Adjusted Free Cash Flow of $283 million, exceeding 2024 guidance midpoints.

The company demonstrated robust operational performance with a Fleet EFOF of 2.2% and total generation of 36.3 TWh, with 50% from carbon-free nuclear generation. Key developments include: reaching an RMR settlement agreement for Brandon Shores and H.A. Wagner facilities through May 2029, with expected annual revenues of $145 million and $35 million respectively starting June 2025; selling ERCOT assets; and completing significant share repurchases totaling 13 million shares (22% of outstanding shares).

As of February 21, 2025, Talen maintained strong liquidity of $1.2 billion and a net leverage ratio of 3.3x. The company has hedged 89% of expected generation volumes for 2025 and 33% for 2026.

Talen Energy (NASDAQ: TLN) has announced it will release its full year and fourth quarter 2024 financial results on Thursday, February 27, 2025, after market close. The company will host an earnings call at 4:30 p.m. EST (3:30 p.m. CST) on the same day.

President and CEO Mac McFarland and CFO Terry Nutt will lead the discussion of financial and operating results. Interested participants can register for the webcast in advance, and phone participants must pre-register to receive dial-in information. A digital replay of the earnings call will be available for approximately one year on Talen's Investor Relations website.

Talen Energy (NASDAQ: TLN) has reached a 'reliability-must-run' (RMR) settlement agreement with PJM Interconnection and other parties to extend operations of its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 2025 retirement dates. The agreement aims to maintain grid reliability in Baltimore until transmission upgrades are completed.

The settlement, pending FERC approval, will provide fixed payments of $312/MW-day ($145 million annually) for Brandon Shores and $137/MW-day ($35 million annually) for H.A. Wagner, including performance incentives of $5 million and $2.5 million respectively. Fuel costs and variable operations expenses will be separately reimbursed.

Under the agreement, both plants will not be considered capacity resources but will be part of the capacity market supply stack, with offer prices dependent on PJM's pending Section 205 proceeding.

Talen Energy (NASDAQ: TLN) announced that its subsidiary, Talen Energy Supply, has successfully completed its consent solicitation for amendments to its 8.625% Senior Secured Notes due 2030. The company received sufficient consents to modify certain provisions and covenants in the Indenture to align with their credit agreement dated May 17, 2023.

The amendments also include waiving Talen's right to optionally redeem up to 10.0% of the Notes prior to June 1, 2025 at 103.000% of the principal amount. The consent solicitation expired on January 13, 2025, and the company expects to pay the consent fee to participating noteholders on January 14, 2025. RBC Capital Markets acted as lead solicitation agent, with Citigroup Global Markets as co-agent.

Talen Energy (NASDAQ: TLN) announced that its subsidiary, Talen Energy Supply, is conducting a consent solicitation for holders of its 8.625% Senior Secured Notes due 2030. The company seeks to modify certain provisions in the Indenture to align with their credit agreement and waive the right to optionally redeem up to 10% of Notes before June 1, 2025.

The consent solicitation runs until January 13, 2025, at 5:00 p.m. (NYC time). Holders of Notes as of January 3, 2025, who provide valid consent will receive $6.25 per $1,000 principal amount of Notes. The amendments require consent from holders representing at least a majority of the aggregate principal amount. RBC Capital Markets acts as lead solicitation agent, with Citigroup Global Markets as solicitation agent.

Talen Energy (NASDAQ: TLN) has responded to FERC's decision to defer ruling on Talen's rehearing request regarding the Susquehanna ISA amendments. The original amendments, rejected by FERC on November 1, 2024, sought to increase co-located load capacity at Talen's Susquehanna nuclear facility from 300 megawatts to 480 megawatts. Following FERC's deferral decision, Talen plans to pursue appellate remedies in the United States Circuit Court of Appeals. Meanwhile, the company continues operating under the current 300-megawatt ISA while exploring alternative commercial solutions with AWS.

Talen Energy (NASDAQ: TLN) has completed several refinancing transactions to improve its debt structure and reduce financing costs. The company has: repriced its $700 million revolving credit facility with a 100 basis points reduction in interest rate margin; repriced $859 million in Term B loans with a similar 100 basis points reduction; issued a new $900 million secured LC facility; and repaid $470 million in Term C loans while terminating associated facilities.

These transactions are expected to generate annual savings of approximately $28 million in interest, fees, and other expenses, excluding additional interest from the Incremental TLB. The company also obtained amendments increasing flexibility for restricted payments, investments, and dispositions under its primary credit agreement.