Filing Flows › NRG Energy (NRG) › Q3 2025
NRG Energy (NRG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
NRG Energy (NRG) reported revenue of $7.6B for the third quarter 2025 (Q3 2025), +6% from a year earlier and +13% from the quarter before. Operating margin was 5.4%, net earnings $152M (2.0% of revenue).
NRG Energy, Q3 2025: revenue $7.6B (+6% year over year), operating margin 5.4%, net earnings $152M, operating cash flow $484M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.6B | +13% | +6% |
| Operating profit | $414M | — | — |
| Net earnings | $152M | — | — |
| Operating cash flow | $484M | +7% | 16× |
| Free cash flow | $230M | +215% | — |
What changed
Revenue was $7.6B in Q3 2025, up 6% year over year and up 13% from the previous quarter. Retail revenue was the largest line at 95% of revenue. Retail revenue added $0.33B year over year (up 5%), 80% of the total change.
Operating profit was $0.41B, a 5.4% margin (up 16.7 points year over year). Total costs fell 10% while revenue rose 6%. The fastest-growing cost line was Other operating costs (+144%). Net earnings were $0.15B. The effective tax rate was 36.1%.
Operating cash flow was $0.48B (up 1461% year over year), 318% of net earnings. Non-cash charges added back $0.22B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.25B left free cash flow of $0.23B.
Questions
What was NRG Energy's revenue in the third quarter 2025?
NRG Energy (NRG) reported revenue of $7.6B for the third quarter 2025 (Q3 2025), +6% from a year earlier and +13% from the quarter before.
Was NRG Energy profitable in the third quarter 2025?
Operating profit was $414M (5.4% of revenue) and net earnings $152M.
Source: NRG Energy 10-Q on SEC EDGAR.