Filing Flows › NRG Energy (NRG) › Q2 2025
NRG Energy (NRG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
NRG Energy (NRG) reported revenue of $6.7B for the second quarter 2025 (Q2 2025), +1% from a year earlier and -21% from the quarter before. Operating margin was 0.0%, net loss $104M (1.5% of revenue).
NRG Energy, Q2 2025: revenue $6.7B (+1% year over year), operating margin 0.0%, net loss $104M, operating cash flow $451M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7B | -21% | +1% |
| Operating profit | $0 | -100% | — |
| Net earnings | −$104M | -114% | — |
| Operating cash flow | $451M | -47% | -57% |
| Free cash flow | $73.0M | -89% | -92% |
What changed
Revenue was $6.7B in Q2 2025, up 1% year over year and down 21% from the previous quarter. Retail revenue was the largest line at 97% of revenue. Retail revenue added $0.17B year over year (up 3%), 216% of the total change. Other revenue declined 26%.
Operating profit was $0K, a 0.0% margin (down 21.2 points year over year). Operating profit fell $1.4B even though revenue rose $0.08B versus a year earlier, so costs grew faster than sales. Total costs grew 28% against revenue growth of 1%. The fastest-growing cost line was SG&A (+33%). The quarter ended with a net loss of $0.10B, after a profit of $0.75B the previous quarter. Net interest and other expense of $0.15B was the main reason.
Operating cash flow was $0.45B (down 57% year over year). Non-cash charges added back $0.23B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.30B. Capital expenditures of $0.38B left free cash flow of $0.07B.
Questions
What was NRG Energy's revenue in the second quarter 2025?
NRG Energy (NRG) reported revenue of $6.7B for the second quarter 2025 (Q2 2025), +1% from a year earlier and -21% from the quarter before.
Was NRG Energy profitable in the second quarter 2025?
Operating profit was $0 (0.0% of revenue) and net loss $104M.
Source: NRG Energy 10-Q on SEC EDGAR.