NRG Sets 2027 Adjusted EBITDA Range With $5.75 Billion Midpoint

NRG Energy set a 2027 adjusted EBITDA guidance range of $5.5 billion to $6 billion, putting the midpoint at $5.75 billion. The company also outlined $3 billion in share repurchases across 2026 and 2027 and agreed to sell six natural-gas generation assets to LS Power for $4 billion.

The $5.75 billion figure is the range's midpoint, not a separate guidance figure. NRG's 2027 outlook excludes the expected impact of the asset sale, which covers assets with a combined capacity of 4.9 gigawatts.

Under the pro forma repurchase plan, an incremental $1 billion in share buybacks is expected to begin before the end of the fourth quarter of 2026. The full $3 billion plan covers both 2026 and 2027.

The sale agreement sets a $4 billion cash price for the six generation assets. The amount remains subject to working-capital and other closing adjustments.