Filing Flows › Talen Energy (TLN) › Q3 2025
Talen Energy (TLN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Talen Energy (TLN) reported revenue of $812M for the third quarter 2025 (Q3 2025), +25% from a year earlier and +29% from the quarter before. Operating margin was 32.4%, net earnings $207M (25.5% of revenue).
Talen Energy, Q3 2025: revenue $812M (+25% year over year), operating margin 32.4%, net earnings $207M, operating cash flow $489M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $812M | +29% | +25% |
| Operating profit | $263M | +298% | +66% |
| Net earnings | $207M | +188% | +23% |
| Operating cash flow | $489M | — | +409% |
| Free cash flow | $468M | — | +464% |
What changed
Revenue was $812.0M in Q3 2025, up 25% year over year and up 29% from the previous quarter. Energy and other revenues was the largest line at 74% of revenue. Capacity revenues added $116.0M year over year (up 232%), 72% of the total change. Unrealized gain (loss) on derivative instruments (Note 2) declined 56%.
Operating profit was $263.0M, a 32.4% margin (up 8.1 points year over year). Of the extra revenue versus a year earlier, 65% reached operating profit, above the 24% margin then. Total costs grew 12% against revenue growth of 25%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $207.0M, up 23% year over year. The effective tax rate was 31.9%.
Operating cash flow was $489.0M (up 409% year over year), 236% of net earnings. Non-cash charges added back $67.0M of depreciation and amortization and $15.0M of share-based compensation. Working capital and other items added $200.0M. Capital expenditures of $21.0M left free cash flow of $468.0M.
Questions
What was Talen Energy's revenue in the third quarter 2025?
Talen Energy (TLN) reported revenue of $812M for the third quarter 2025 (Q3 2025), +25% from a year earlier and +29% from the quarter before.
Was Talen Energy profitable in the third quarter 2025?
Operating profit was $263M (32.4% of revenue) and net earnings $207M.
Source: Talen Energy 10-Q on SEC EDGAR.