New Risk • May 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.5x net interest cover). Shares are highly illiquid. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.5% net profit margin). Reported Earnings • May 08
First quarter 2026 earnings released: EPS: US$0.52 (vs US$3.70 in 1Q 2025) First quarter 2026 results: EPS: US$0.52 (down from US$3.70 in 1Q 2025). Revenue: US$10.3b (up 20% from 1Q 2025). Net income: US$108.0m (down 85% from 1Q 2025). Profit margin: 1.1% (down from 8.5% in 1Q 2025). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Electric Utilities industry in South America. Board Change • May 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. President, CEO & Director Rob Gaudette was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 27
Fourth quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 1st May 2026 Payment date: 15th May 2026 Dividend yield will be 1.0%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 86% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 22
NRG Energy, Inc. announces Quarterly dividend, payable on May 15, 2026 NRG Energy, Inc. announced Quarterly dividend of USD 0.4750 per share payable on May 15, 2026, ex-date on May 01, 2026 and record date on May 01, 2026. Announcement • Apr 09
NRG Energy, Inc. to Report Q1, 2026 Results on May 06, 2026 NRG Energy, Inc. announced that they will report Q1, 2026 results on May 06, 2026 Announcement • Mar 19
NRG Energy, Inc., Annual General Meeting, Apr 30, 2026 NRG Energy, Inc., Annual General Meeting, Apr 30, 2026. Announcement • Mar 05
NRG Energy, Inc. Announces Appointment of Caroline Golin as Chief Growth and Policy Officer NRG Energy Inc. announced the appointment of Caroline Golin, Ph.D., as Chief Growth and Policy Officer. Dr. Golin brings more than two decades of experience in energy strategy, market development, and product innovation to NRG. In her new role, she will focus on driving the strategic execution of key business initiatives that support reliability and affordability as energy demand grows, including the expansion of data center opportunities and residential virtual power plant (VPP) programs. In this capacity, she will also lead NRG’s Government and Regulatory Affairs functions. Most recently, Dr. Golin was the Founder and CEO of Envision Energy Advisors, where she worked with stakeholders across the energy value chain to address complex challenges related to grid planning, capital structuring, procurement strategy, and cross-sector partnerships. Prior to founding Envision Energy Advisors, she was Global Head of Energy Market Development and Innovation at Google, where she led energy strategy, new product innovation, and partnership development to support the company’s energy and digital infrastructure needs. She was also a co-creator of Google’s ambitious moonshot program to operate fully on carbon-free energy by 2030. Dr. Golin holds both a Master’s degree and a Ph.D. from the Georgia Institute of Technology. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: US$4.09 (vs US$5.14 in FY 2024) Full year 2025 results: EPS: US$4.09 (down from US$5.14 in FY 2024). Revenue: US$30.7b (up 9.2% from FY 2024). Net income: US$797.0m (down 25% from FY 2024). Profit margin: 2.6% (down from 3.8% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in South America are expected to remain flat. Announcement • Feb 04
Nrg Energy, Inc. Appoints Sanjay Kapoor to Its Board of Directors and Audit Committee, Effective February 3, 2026 NRG Energy, Inc. announced that Sanjay Kapoor has been appointed to its Board of Directors, effective February 3, 2026. Mr. Kapoor also will serve on the Board’s Audit Committee. His appointment brings NRG’s Board to 11 members and further strengthens its collective expertise across industrial, financial, and operational leadership. With more than 30 years of experience in senior financial and operational roles, Mr. Kapoor has built a career shaped by rigorous oversight and leadership across highly regulated and technically complex industries. Mr. Kapoor, age 65, is the recently retired (2019) Executive Vice President and CFO of Spirit AeroSystems. Prior to Spirit AeroSystems, Mr. Kapoor held leadership positions at industry-leading defense and aviation sector companies Raytheon (2004 – 2013) and United Technologies (1990 – 2004). At Raytheon, he led the Integrated Air and Missile Defense Systems, including the Patriot and Hawk programs. During his final three years at Raytheon, he oversaw all business execution activities, doubling revenue over the period. Earlier, he served as the Division’s Chief Financial Officer, providing leadership to more than 650 finance professionals across the United States, Germany, Australia, and the Middle East. Mr. Kapoor also has significant board experience, including Crane Company (NYSE:CR; 2023 – present), SAAB, Inc. (2021 – present), and Black & Veatch (2018 – 2025), where he has contributed to governance and oversight in industrial and technology-driven markets. He holds an MBA from the University of Pennsylvania and a BA from the Indian Institute of Technology. Announcement • Feb 02
NRG Energy, Inc. to Report Q4, 2025 Results on Feb 24, 2026 NRG Energy, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 24, 2026 Announcement • Jan 27
NRG Energy Receives All Regulatory Approvals for LS Power Portfolio Acquisition NRG Energy, Inc. announced it has received antitrust clearance from the U.S. Department of Justice (DOJ) for its previously announced acquisition of 18 natural gas generation facilities and a commercial and industrial virtual power plant platform (C&I VPP) from LS Power. NRG received antitrust clearance from the DOJ on January 23, 2026, and previously received approvals from the Federal Energy Regulatory Commission (FERC) and the New York State Public Service Commission (NYSPSC). The Company now has all regulatory approvals, and the transaction is expected to close shortly, subject to customary closing conditions. Upon closing, the acquisition will add 13 GW of quick-start, natural gas-fired generation across the Northeast and Texas and 6 GW of VPP capability, enhancing the scale, resilience, and reliability of NRG’s portfolio and expanding the ways the Company can serve customers as power demand continues to increase. Announcement • Jan 24
Nrg Energy, Inc. Announces Quarterly Dividend, Payable on February 17, 2026 NRG Energy, Inc. announced that its Board of Directors has declared a quarterly dividend on the Company’s common stock of $0.475 per share, or $1.90 per share on an annualized basis. This dividend represents an 8% increase from the prior year, in line with the Company’s previously announced annual dividend growth rate target of 7–9% per share. The dividend is payable on February 17, 2026, to stockholders of record as of February 2, 2026. Announcement • Jan 03
Nrg Energy, Inc. Announces Resignation of Director Kevin T. Howell, Effective January 2, 2026 NRG Energy, Inc. announced that on January 2, 2026, Kevin T. Howell informed the Board of Directors of his intention to resign from the Board, effective immediately, to pursue another opportunity. His decision to resign was not the result of any disagreement with the Company, management, or the Board on any matter relating to the Company's operations, policies or practices. Announcement • Nov 07
NRG Energy, Inc. (NYSE:NRG) announces an Equity Buyback for $3,000 million worth of its shares. NRG Energy, Inc. (NYSE:NRG) announces a share repurchase program. Under the program, the company will repurchase up to $3,000 million worth of its shares. The program is valid till 2028. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: US$0.70 (vs US$3.79 loss in 3Q 2024) Third quarter 2025 results: EPS: US$0.70 (up from US$3.79 loss in 3Q 2024). Revenue: US$7.64b (up 5.7% from 3Q 2024). Net income: US$135.0m (up US$919.0m from 3Q 2024). Profit margin: 1.8% (up from net loss in 3Q 2024). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in South America are expected to remain flat. Declared Dividend • Oct 27
Second quarter dividend of US$0.44 announced Shareholders will receive a dividend of US$0.44. Ex-date: 3rd November 2025 Payment date: 17th November 2025 Dividend yield will be 0.9%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (76% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 96% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 21
NRG Energy, Inc. Declares Quarterly Dividend on Common Stock, Payable on November 17, 2025 NRG Energy, Inc. announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.44 per share, or $1.76 per share on an annualized basis. The dividend is payable on November 17, 2025, to stockholders of record as of November 3, 2025. Announcement • Sep 22
NRG Energy, Inc. to Report Q3, 2025 Results on Nov 06, 2025 NRG Energy, Inc. announced that they will report Q3, 2025 results at 9:00 AM, US Eastern Standard Time on Nov 06, 2025 Announcement • Sep 18
NRG Energy, Inc. Raises Earnings Guidance for the Year 2025 NRG Energy, Inc. raised earnings guidance for the year 2025. For the year, the company expects net income to be between $1,080 million to $1,200 million against $1,025 million to $1,225 million previously guided. Reported Earnings • Aug 06
Second quarter 2025 earnings released: US$0.62 loss per share (vs US$3.47 profit in 2Q 2024) Second quarter 2025 results: US$0.62 loss per share (down from US$3.47 profit in 2Q 2024). Revenue: US$6.74b (up 1.2% from 2Q 2024). Net loss: US$121.0m (down 117% from profit in 2Q 2024). Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in South America are expected to remain flat. Announcement • Aug 06
NRG Energy, Inc. Reaffirms Earnings Guidance for the Year 2025 NRG Energy, Inc. reaffirmed earnings guidance for the year 2025. For the year, the company expects net income to be between $1,025 million to $1,225 million. Announcement • Jul 10
Nrg Energy Announces Appointment of Brad Bentley as President, Nrg Consumer NRG Energy, Inc. announced appointment of Brad Bentley as President, NRG Consumer, effective July 28, 2025. Mr. Bentley will report directly to Larry Coben, Chair, President, and Chief Executive Officer of NRG Energy. Mr. Bentley brings to NRG decades of experience in consumer innovation, product development, and marketing. He will lead NRG’s Home Energy and Smart Home businesses, which serve more than 8 million customers across North America. As a leading competitive retail energy provider and smart home provider, NRG is redefining how customers experience and manage energy in their homes. Mr. Bentley will be responsible for advancing that vision by strengthening consumer loyalty, accelerating innovation, and delivering technology-enabled solutions that align with the next generation of customer needs. Most recently, Mr. Bentley was Chief Operating Officer, Traveler Operation of Expedia Group, Inc., where he was responsible for the growth and execution of the $10 billion global Expedia Traveler business. Before Expedia, he served as CEO and President of Inspire Clean Energy, a clean energy technology company that was sold to Shell in 2021. Prior to this, he held numerous senior leadership roles at WarnerMedia, AT&T, and DIRECTV. Mr. Bentley holds a bachelor’s degree in marketing from Vanguard University and a master’s degree in marketing from Northwestern University. Recent Insider Transactions • Jun 05
Independent Director recently sold Mex$150m worth of stock On the 30th of May, Kevin Howell sold around 50k shares on-market at roughly Mex$2,996 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • May 14
NRG Energy, Inc. (NYSE:NRG) entered into a definitive agreement to acquire Portfolio of Natural Gas Generation Facilities And CPower, Inc. from LS Power Development, LLC for $9.3 billion. NRG Energy, Inc. (NYSE:NRG) entered into a definitive agreement to acquire Portfolio of Natural Gas Generation Facilities And CPower, Inc. from LS Power Development, LLC for $9.3 billion on May 12, 2025. The transaction Enterprise Value of approximately $12.0 billion is comprised of $6.4 billion of cash consideration, $2.8 billion in stock consideration to LS Power (24.25 million shares of NRG stock using the 10-day trailing VWAP of $114.98), $3.2 billion of net debt assumed at closing, less approximately $0.4 billion of the NPV of tax benefits generated directly as a result of the transaction. The transaction is not expected to trigger any change of control provisions under such assumed debt. LS Power is expected to own approximately 11% of the pro forma NRG shares outstanding and has committed to a 6-month lock-up period with respect to its equity ownership of NRG common stock. A portion of LS Power’s shares will be held in a voting trust such that it will control less than 10% of the overall voting rights of NRG stock at all times. The acquisition is expected to close in the first quarter of 2026, subject to customary closing conditions and regulatory approvals including Hart-Scott-Rodino (HSR), Federal Energy Regulatory Commission (FERC), and the New York State Public Service Commission (NYSPSC). The acquisition is expected to be immediately accretive to NRG’s Adjusted Earnings Per Share.
Citi and Goldman Sachs & Co. LLC are serving as NRG’s lead M&A advisors. Scotiabank is also serving as M&A advisor to NRG. Citi and Goldman Sachs Bank USA are providing committed financing for the acquisition. White & Case LLP is serving as legal counsel to NRG.
Evercore is serving as lead financial advisor to LS Power. J.P. Morgan, Morgan Stanley & Co. LLC and Solomon Partners Securities, LLC, are serving as financial advisors to LS Power. With respect to CPower, Lazard is serving as lead financial advisor and Harris Williams is serving as financial advisor to LS Power. Milbank LLP and Adam Turteltaub, Giovanni Smedley, Archie Fallon and Antonio Yanez of Willkie Farr & Gallagher LLP are serving as legal counsel to LS Power. Announcement • May 12
NRG Energy, Inc. Reaffirms Earnings Guidance for the Year 2025 NRG Energy, Inc. reaffirmed earnings guidance for the year 2025. For the year, the company expects net income to be in the range of $1,025 million to $1,225 million. Announcement • May 02
NRG Energy, Inc. to Report Q1, 2025 Results on May 12, 2025 NRG Energy, Inc. announced that they will report Q1, 2025 results on May 12, 2025 Announcement • Apr 09
NRG Energy, Inc. Announces Quarterly Dividend, Payable on May 15, 2025 NRG Energy, Inc. announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.44 per share, or $1.76 per share on an annualized basis. The dividend is payable on May 15, 2025, to stockholders of record as of May 1, 2025. Announcement • Apr 07
NRG Energy Inc. Announces Rasesh Patel Retires as President, NRG Consumer, Effective May 19, 2025 NRG Energy Inc. announced that Rasesh Patel, President, NRG Consumer, has decided to retire, effective May 19, 2025. Afterward, Mr. Patel will remain available in an advisory role to ensure a seamless transition. The Company anticipates naming a successor during the second quarter. Mr. Patel joined NRG in March 2023 as President of Smart Home following the acquisition of Vivint Smart Home. In March 2024, he expanded his role to lead all of NRG’s Consumer businesses, including Home Energy and Smart Home. Announcement • Mar 13
NRG Energy, Inc. (NYSE:NRG) entered into a definitive agreement to acquire Six power generation facilities from Rockland Capital, LP for approximately $560 million. NRG Energy, Inc. (NYSE:NRG) entered into a definitive agreement to acquire Six power generation facilities from Rockland Capital, LP for approximately $560 million on March 12, 2025. The acquisition will be funded through corporate debt. The transaction is subject to Hart-Scott-Rodino regulatory approval. The deal is expected to close in the second quarter of 2025. Announcement • Mar 10
NRG Energy, Inc., Annual General Meeting, May 01, 2025 NRG Energy, Inc., Annual General Meeting, May 01, 2025. Announcement • Feb 05
NRG Energy, Inc. to Report Q4, 2024 Results on Feb 26, 2025 NRG Energy, Inc. announced that they will report Q4, 2024 results on Feb 26, 2025 Announcement • Jan 23
NRG Energy, Inc. Announces Quarterly Dividend, Payable on February 18, 2025 NRG Energy, Inc. announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.44 per share, or $1.76 per share on an annualized basis. This dividend represents an 8% increase from the prior year, in line with the Company’s previously announced annual dividend growth rate target of 7-9% per share. The dividend is payable on February 18, 2025, to stockholders of record as of February 3, 2025. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to Mex$2,106, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 9x in the Electric Utilities industry in South America. Reported Earnings • Nov 09
Third quarter 2024 earnings released: US$3.79 loss per share (vs US$1.42 profit in 3Q 2023) Third quarter 2024 results: US$3.79 loss per share (down from US$1.42 profit in 3Q 2023). Revenue: US$7.22b (down 9.1% from 3Q 2023). Net loss: US$784.0m (down 341% from profit in 3Q 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Electric Utilities industry in South America. Declared Dividend • Oct 30
Second quarter dividend of US$0.41 announced Shareholders will receive a dividend of US$0.41. Ex-date: 1st November 2024 Payment date: 15th November 2024 Dividend yield will be 0.8%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 1.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Oct 12
NRG Energy, Inc. Declares Quarterly Dividend on the Common Stock, Payable on November 15, 2024 NRG Energy, Inc. announced that its board of directors declared a quarterly dividend on the company’s common stock of $0.4075 per share, or $1.63 per share on an annualized basis. The dividend is payable on November 15, 2024, to stockholders of record as of November 1, 2024. Announcement • Sep 26
NRG Energy, Inc. to Report Q3, 2024 Results on Nov 08, 2024 NRG Energy, Inc. announced that they will report Q3, 2024 results on Nov 08, 2024 New Risk • Aug 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Shares are highly illiquid. Earnings are forecast to decline by an average of 7.6% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Announcement • Aug 09
Gamut Capital Management, L.P. entered into a definitive agreement to acquire Airtron Heating & Air Conditioning, Inc. from NRG Energy, Inc. (NYSE:NRG) for $500 million. Gamut Capital Management, L.P. entered into a definitive agreement to acquire Airtron Heating & Air Conditioning, Inc. from NRG Energy, Inc. (NYSE:NRG) for $500 million on August 3, 2024. For the year 2023, Airtron had Adjusted EBITDA of $58 million and Net Income of $29 million. The divestiture is an accretive 8.6x multiple on 2023 Adjusted EBITDA. Jeff Morrow will assume the position of Chief executive Officer. The transaction is subject to regulatory approval under the Hart Scott Rodino act and is expected to close by the end of 2024. Current Capital Partners LLC served as exclusive financial advisor and Constantine Skarvelis, Peter Martelli,Steven Choi, Yuli Wang, Melissa Hutson, Mark Schwed, Joanna Schlingbaum, Shellie Freedman, Steven Ort, Anthony Ji, Michael Krasnovsky, and Jack Bernstein of Kirkland & Ellis LLP served as legal counsel to Gamut. Announcement • Jul 20
NRG Energy, Inc. Announces Quarterly Dividend, Payable on August 15, 2024 NRG Energy, Inc. announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.4075 per share, or $1.63 per share on an annualized basis. The dividend is payable on August 15, 2024, to stockholders of record as of August 1, 2024. Announcement • Jul 16
NRG Energy, Inc. to Report Q2, 2024 Results on Aug 08, 2024 NRG Energy, Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Announcement • Apr 19
NRG Energy, Inc. to Report Q1, 2024 Results on May 07, 2024 NRG Energy, Inc. announced that they will report Q1, 2024 results on May 07, 2024 Announcement • Apr 18
NRG Energy, Inc. Announces Quarterly Dividend on Common Stock, Payable on May 15, 2024 NRG Energy, Inc. announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.4075 per share, or $1.63 per share on an annualized basis. The dividend is payable on May 15, 2024, to stockholders of record as of May 1, 2024. Announcement • Mar 27
NRG Energy, Inc. Announces Leadership Changes NRG Energy Inc. announced that Elizabeth Killinger has elected to retire from her role as Executive Vice President, NRG Home. Rasesh Patel has been named President, NRG Consumer, and will oversee the two separate business segments of Smart Home and Home Energy, effective immediately. Mrs. Killinger will remain with NRG as an advisor to the CEO until January 2025. Rasesh Patel has served as Executive Vice President, Smart Home and President of Vivint, since March 2023 following the close of NRG’s acquisition, and served as Chief Operating Officer of Vivint from May 2022 to March 2023. Prior to joining Vivint, he held numerous senior leadership positions with AT&T and DIRECTV. In those roles, Mr. Patel led teams responsible for approximately $35 billion in annual revenue, focused on integrated technology platforms, product solutions, and customer experience. Mr. Patel holds an MBA from UCLA’s AndersonSchool of Management and a bachelor’s degree in electrical and computer engineering from the University of California, Irvine. Recent Insider Transactions • Mar 20
Executive Vice President of Smart Home recently sold Mex$51m worth of stock On the 14th of March, Rasesh Patel sold around 49k shares on-market at roughly Mex$1,044 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Mar 17
NRG Energy, Inc., Annual General Meeting, Apr 25, 2024 NRG Energy, Inc., Annual General Meeting, Apr 25, 2024, at 09:00 Eastern Standard Time. Agenda: To elect thirteen directors; to approve, on a non-binding advisory basis, NRG Energy, Inc.’s executive compensation; to ratify the appointment of KPMG LLP as NRG Energy, Inc.’s independent registered public accounting firm for the 2024 fiscal year; and to transact such other business as may properly come before the Annual Meeting and any adjournment or postponement. 
