Filing Flows › Talen Energy (TLN) › Q3 2026 › vs Q3 2025
Talen Energy (TLN) Q3 2026 vs Q3 2025 (year over year)
Talen Energy's revenue rose $515M (+63%) from $812M in Q3 2025 to $1.3B in Q3 2026. The biggest changes: Revenue from contracts with customers +$966M (+139%). Operating margin 19.2% against 32.4% (-13.2 pts).
Talen Energy, Q3 2026: revenue $1.3B (+63% year over year), operating margin 19.2%, net earnings $138M, operating cash flow $463M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 19.2% | 32.4% | -13.2 pts |
| Net margin | 10.4% | 25.5% | -15.1 pts |
| Free cash flow margin | 22.3% | 57.6% | -35.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Electricity sales and ancillary services, ISO/RTO | $1.3B | $496M | $788M | +159% |
| Capacity revenues | $323M | $166M | $157M | +95% |
| Physical electricity sales, bilateral contracts, other | $56.0M | $35.0M | $21.0M | +60% |
| Revenue from contracts with customers | $1.7B | $697M | $966M | +139% |
| Revenue | $1.3B | $812M | $515M | +63% |
| Other revenues (net loss) | $336M | −$115M | $451M | — |
| Operating profit | $255M | $263M | −$8.0M | -3% |
| Costs & expenses | $1.1B | $549M | $523M | +95% |
| Pre-tax earnings | $195M | $304M | −$109M | -36% |
| Other expense, net | $60.0M | −$41.0M | $101M | — |
| General & admin | $76.0M | $38.0M | $38.0M | +100% |
| Other operating costs | $996M | $511M | $485M | +95% |
| Net earnings | $138M | $207M | −$69.0M | -33% |
| Income tax | $57.0M | $97.0M | −$40.0M | -41% |
| Depreciation & amortization | $127M | $67.0M | $60.0M | +90% |
| Share-based compensation | $51.0M | $15.0M | $36.0M | +240% |
| Working capital & other | $147M | $200M | −$53.0M | -26% |
| Operating cash flow | $463M | $489M | −$26.0M | -5% |
| Free cash flow (OCF − capex) | $296M | $468M | −$172M | -37% |
| Capital expenditures | $167M | $21.0M | $146M | +695% |
Questions
How much did Talen Energy's revenue grow year over year in Q3 2026?
Talen Energy's revenue rose $515M (+63%) from $812M in Q3 2025 to $1.3B in Q3 2026.
What drove Talen Energy's revenue change in Q3 2026?
Revenue from contracts with customers +$966M (+139%).