NRG Energy (NYSE: NRG) refreshes 2026 guidance to include LS Power assets

Rhea-AI Filing Summary

NRG Energy, Inc. filed a Form 8-K to announce that it has updated its previously communicated financial guidance for the year ended December 31, 2026. The revision reflects the expected contribution from the portfolio of assets acquired from LS Power.

The company notes that its guidance for Adjusted Net Income, Adjusted EBITDA, Adjusted EPS and Free Cash Flow before Growth represents estimates as of February 2, 2026, based on assumptions it considered reasonable at that time. NRG also includes extensive cautionary language about forward-looking statements, highlighting integration risks from the LS Power assets, market volatility, regulatory changes, cybersecurity, smart home business risks and capital markets conditions.

Insights

Equity and credit analyst

NRG updates 2026 guidance to include LS Power assets, but details sit in the attached release.

NRG Energy has refreshed its 2026 outlook to factor in earnings and cash flow from assets acquired from LS Power. The filing confirms that updated targets cover Adjusted Net Income, Adjusted EBITDA, Adjusted EPS and Free Cash Flow before Growth as of February 2, 2026.

The extensive risk discussion emphasizes integration challenges for the LS Power portfolio, potential delays or shortfalls in expected synergies, wholesale power and gas price volatility, and exposure to smart home and security markets. It also highlights dependence on access to capital markets and maintaining investment-grade credit metrics.

Because the numerical guidance is contained in the attached press release rather than the narrative, the main takeaway here is that the acquisition is now embedded in the company’s formal outlook, with multiple operational, market and regulatory factors listed as potential drivers of variance versus these estimates.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 2, 2026

NRG ENERGY, INC.

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation) 001-15891
(Commission File Number) 41-1724239
(IRS Employer
Identification No.)

1301 McKinney Street, Houston, Texas

(Address of principal executive offices, including zip code)

(713) 537-3000
(Registrant’s telephone number, including area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which  registered
Common Stock, par value $0.01		NRG		New York Stock Exchange
Common Stock, par value $0.01		NRG		NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 7.01 Regulation FD Disclosure.

On February 2, 2026, NRG Energy, Inc. (“NRG” or the “Company”) issued a press release announcing that NRG has updated its previously communicated financial guidance for the year ended December 31, 2026 to reflect the expected contribution of the portfolio of assets acquired from LS Power. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

Except as indicated below, the information in this Item 7.01 and the Exhibit attached to this Current Report on Form 8-K are being furnished under Item 7.01 of Form 8-K. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing and as set forth below.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report on Form 8-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as “may,” “should,” “could,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “expect,” “intend,” “seek,” “plan,” “think,” “anticipate,” “estimate,” “predict,” “target,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements include, but are not limited to, statements about the Company’s future revenues, income, indebtedness, capital structure, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions.

Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, general economic conditions, the imposition of tariffs and escalation of international trade disputes (and inflationary impacts resulting therefrom), risks associated with the integration of the assets acquired from LS Power, including potential disruption to ongoing operations and other transition difficulties, the inability of the combined company to realize expected synergies and benefits of integration (or that it takes longer than expected) which may result in the combined company not operating as effectively as expected, hazards customary in the power industry, weather conditions and extreme weather events, competition in wholesale power, gas and smart home markets, the volatility of energy and fuel prices, the volatility in demand for power and gas, customer affordability concerns that may constrain the pricing of the Company’s products and services and limit its ability to recover costs, failure of customers or counterparties to perform under contracts, changes in the wholesale power and gas markets, the failure of NRG’s expectations regarding load growth to materialize, changes in government or market regulations, the condition of capital markets generally and NRG’s ability to access capital markets, NRG’s ability to execute its market operations and supply strategy, risks related to data privacy, cyberterrorism and inadequate cybersecurity, the loss of data, unanticipated outages at NRG’s generation facilities, operational and reputational risks related to the use of artificial intelligence and the adherence to developing laws and regulations related to the use thereof, NRG’s ability to achieve its net debt targets, adverse results in current and future litigation, complaints, product liability claims and/or adverse publicity, failure to identify, execute or successfully implement acquisitions or asset sales, risks of the smart home and security industry, including risks of and publicity surrounding the sales, customer origination and retention process, the impact of changes in consumer spending patterns, consumer preferences, geopolitical tensions, demographic trends, supply chain disruptions, NRG’s ability to implement value enhancing improvements to plant operations and company-wide processes, NRG’s ability to achieve or maintain investment grade credit metrics, NRG’s ability to proceed with projects under development or the inability to complete the construction of such projects on schedule or within budget, the inability to maintain or create successful partnering relationships, NRG’s ability to operate its business efficiently, NRG’s ability to retain retail customers, the ability to successfully integrate businesses of acquired assets or companies, NRG’s ability to realize anticipated benefits of transactions (including expected cost savings and other synergies) or the risk that anticipated benefits may take longer to realize than expected, NRG’s ability to execute its capital allocation plan, and the other risks and uncertainties discussed in this release and in our Forms 10-K, 10-Q, and 8-K filed with or furnished to the SEC.

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NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The Adjusted Net Income, Adjusted EBITDA, Adjusted EPS, and Free Cash Flow before Growth guidance are estimates as of February 2, 2026. These estimates are based on assumptions NRG believed to be reasonable as of that date. NRG disclaims any current intention to update such guidance, except as required by law. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this press release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the SEC at www.sec.gov. For a more detailed discussion of these factors, see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in NRG’s most recent Annual Report on Form 10-K, and in subsequent SEC filings. NRG’s forward-looking statements speak only as of the date of this communication or as of the date they are made.

Item 9.01 Financial Statement and Exhibits

(c) Exhibits:

Exhibit No.		Description
99.1		Press release dated February 2, 2026
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the iXBRL document.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NRG Energy, Inc.
	(Registrant)
Dated: February 2, 2026	By:	/s/ Christine A. Zoino
		Christine A. Zoino
		Corporate Secretary

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FAQ

What did NRG Energy (NRG) announce in its latest Form 8-K?

NRG Energy announced that it updated its financial guidance for the year ended December 31, 2026 to reflect the expected contribution of assets acquired from LS Power. The specific guidance figures are provided in an accompanying press release attached as Exhibit 99.1.

How does the LS Power acquisition affect NRG Energys 2026 guidance?

NRG Energy states that its updated 2026 guidance now incorporates the expected contribution from the portfolio of assets acquired from LS Power. This means revenue, earnings and cash flow estimates for 2026 are revised to reflect those acquired operations within the combined companys outlook.

Which financial metrics did NRG Energy update in its 2026 outlook?

NRG Energy identifies updated guidance for Adjusted Net Income, Adjusted EBITDA, Adjusted EPS and Free Cash Flow before Growth. These estimates are described as current as of February 2, 2026 and are based on assumptions the company believed reasonable on that date.

What main risks does NRG Energy highlight around the LS Power assets?

NRG Energy cites integration risks, including potential disruption to ongoing operations, transition difficulties, and the possibility that expected synergies and benefits from LS Power assets are delayed or not fully realized. These factors could affect how closely actual results track the updated 2026 guidance.

How does NRG Energy describe its forward-looking statements in this 8-K?

NRG Energy classifies its guidance and related comments as forward-looking statements involving estimates, expectations and assumptions subject to known and unknown risks. It warns that actual results may differ materially and disclaims any obligation to update guidance except as required by law.

Where can investors find more detail on NRG Energys updated guidance?

Investors are directed to the press release dated February 2, 2026 attached as Exhibit 99.1. NRG also recommends reviewing its most recent Form 10-K and subsequent SEC filings, which discuss risk factors and managements analysis in greater detail at the SECs website.