Nov 3, 8:08 AM ET
Talen Energy reported third quarter 2026 GAAP net income of $138 million alongside $669 million in Adjusted EBITDA. The company also upsized its share repurchase program to $3.0 billion, including a $1.5 billion accelerated share repurchase, and introduced 2027 guidance projecting roughly 26% growth in Adjusted EBITDA at the midpoint.
- Third quarter 2026 GAAP net income attributable to stockholders was $138 million, down from $207 million in the third quarter of 2025.
- Adjusted EBITDA reached $669 million and Adjusted Free Cash Flow reached $433 million for the third quarter of 2026.
- The board upsized the share repurchase program to $3.0 billion, launching a $1.5 billion accelerated share repurchase program funded partly by a $1.5 billion PJM capacity monetization.
- The company reaffirmed its full-year 2026 Adjusted EBITDA guidance of $2,050 million to $2,200 million and introduced 2027 guidance of $2,500 million to $2,850 million.
Read the filing on SEC.gov ↗
Sep 29, 5:02 PM ET
Talen's board named President Terry Nutt as chief executive effective January 1, 2027, succeeding Mac McFarland, who retires March 1, 2027. The same day, Talen entered $1.5 billion of accelerated share repurchase agreements, funded by selling about $1.5 billion of future PJM capacity revenues, and raised its remaining buyback authorization to $3.0 billion. For shareholders, the buyback reduces the share count, but the company says its adjusted free cash flow forecast for 2H 2026 through 2028 falls from about $4 billion to about $2.8 billion after the capacity sale.
- Terry Nutt becomes CEO and joins the board on January 1, 2027; his base salary is set at $1,200,000, with a target bonus of 135% of base and a long-term incentive target of 700% of base.
- Mac McFarland serves as Senior Advisor from January 1, 2027 until his retirement on March 1, 2027, and will receive $100,000 for those services.
- The ASRs with Goldman Sachs & Co. LLC and Banco Santander cost $1.5 billion, with about 4.0 million shares initially received; the company expects them to be completed by the end of the first quarter of 2027 and says they would repurchase m
- The capacity monetization covers PJM 2027/2028 and 2028/2029 delivery years, with Citi, at SOFR plus 200 basis points; the company targets net leverage of 3.5x by the second half of 2027.
Read the filing on SEC.gov ↗
Aug 5, 4:07 PM ET
Talen Energy reported a second quarter 2026 GAAP net loss attributable to stockholders of $92 million, compared with net income of $72 million a year earlier, mainly due to unrealized derivative losses and higher interest expense. Adjusted EBITDA rose to $374 million from $90 million, and the company raised its 2026 Adjusted EBITDA and Adjusted Free Cash Flow guidance after completing the Cornerstone Acquisition in June.
- Q2 2026 GAAP net loss attributable to stockholders was $92 million, versus net income of $72 million in Q2 2025.
- Q2 2026 Adjusted EBITDA was $374 million, up from $90 million; Adjusted Free Cash Flow was $212 million, compared with a $78 million outflow a year earlier.
- 2026 Adjusted EBITDA guidance raised to $2,025 million to $2,225 million; Adjusted Free Cash Flow guidance raised to $1,200 million to $1,350 million, excluding Keystone as of July 1, 2026.
- Repurchased 550,000 shares for approximately $200 million in Q2 2026, with $1.7 billion of repurchase capacity remaining through December 2028.
Read the filing on SEC.gov ↗
Jun 15, 4:07 PM ET
Talen Energy completed its acquisition of the Lawrenceburg Power Plant in Indiana and the Waterford Energy Center and Darby Generating Station in Ohio from Energy Capital Partners on June 15, 2026. The purchase price combined about $2.55 billion in cash, subject to post-closing adjustments, with 2,399,998 new shares of Talen common stock, and the company amended its credit facilities to support the deal.
- Cash consideration of approximately $2.55 billion, subject to customary adjustments, funded partly by 6.125% notes due 2031 and 6.375% notes due 2033 issued in April 2026
- Stock consideration of 2,399,998 shares of common stock issued to the sellers, subject to a 90-day lock-up on 50% of the shares and a 180-day lock-up on the rest
- Revolving credit facility increased from $900 million to $1.35 billion, and stand-alone letter of credit facility upsized from $1.1 billion to $1.5 billion, with maturity extended to December 2029
- Talen states the acquisition is immediately accretive, adding over 15% to cash flow per share; the filing does not provide a supporting calculation
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.