Filing Flows › NRG Energy (NRG) › Q1 2026 › vs Q4 2025
NRG Energy (NRG) Q1 2026 vs Q4 2025 (quarter over quarter)
NRG Energy's revenue rose $2.5B (+32%) from $7.8B in Q4 2025 to $10.3B in Q1 2026. Operating margin 3.2% against 3.8% (-0.6 pts).
NRG Energy, Q1 2026: revenue $10.3B (+20% year over year), operating margin 3.2%, net earnings $125M, operating cash flow −$169M. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 3.2% | 3.8% | -0.6 pts |
| Net margin | 1.2% | 0.9% | +0.4 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $10.3B | $7.8B | $2.5B | +32% |
| Operating profit | $328M | $297M | $31.0M | +10% |
| Costs & expenses | $9.9B | $7.5B | $2.5B | +33% |
| Pre-tax earnings | $83.0M | $64.0M | $19.0M | +30% |
| Other expense, net | $245M | $233M | $12.0M | +5% |
| Cost of revenue | $8.9B | $6.3B | $2.5B | +40% |
| SG&A | $593M | $717M | −$124M | -17% |
| Other operating costs | $477M | $409M | $68.0M | +17% |
| Income tax benefit | $42.0M | $2.0M | $40.0M | 21× |
| Net earnings | $125M | $66.0M | $59.0M | +89% |
| Operating cash sources | $612M | $223M | $389M | +174% |
| Depreciation & amortization | $277M | $229M | $48.0M | +21% |
| Share-based compensation | $41.0M | $51.0M | −$10.0M | -20% |
| Cash used in operations | $169M | −$123M | $292M | — |
| Working capital & other | $612M | $223M | $389M | +174% |
Questions
How much did NRG Energy's revenue grow quarter over quarter in Q1 2026?
NRG Energy's revenue rose $2.5B (+32%) from $7.8B in Q4 2025 to $10.3B in Q1 2026. Operating margin 3.2% against 3.8% (-0.6 pts).