Talen Energy Reports Third Quarter 2026 Results, Reaffirms 2026 Guidance, and Introduces 2027 Guidance
Key Highlights
- ➤Q3 Adjusted EBITDA $669 million, up $306 million year over year
- ➤Q3 Adjusted Free Cash Flow $433 million, up $210 million year over year
- ➤2027 Adjusted EBITDA guidance $2.5 billion-$2.85 billion, up 26% midpoint
- ➤2027 Adjusted Free Cash Flow guidance $1.5 billion-$1.75 billion, up 27% midpoint
- ➤$1.5 billion ASR launched; total repurchase authorization increased to $3.0 billion
- ➤2026 guidance reaffirmed at $2.05 billion-$2.2 billion EBITDA and $1.225 billion-$1.325 billion FCF
Expert Statements
Mac McFarland, Chief Executive Officer of Talen Energy
“Talen delivered $669 million of Adjusted EBITDA and $433 million of Adjusted Free Cash Flow in the third quarter. With nine months behind us, we are reaffirming the midpoint and are narrowing the range of our 2026 guidance. We are also introducing our 2027 guidance that reflects strong PJM fundamentals and a full year of contributions from our recently acquired assets.”
Terry Nutt, President of Talen Energy
“Share repurchases remain the benchmark against which we evaluate capital allocation. This quarter, we increased our share repurchase program to $3.0 billion, including a $1.5 billion accelerated share repurchase program. We have now repurchased more than one third of the shares outstanding at emergence.”
Terry Nutt, President of Talen Energy
“Growing demand across PJM strengthens the outlook for our fleet and supports our focus on increasing Adjusted Free Cash Flow per share over the coming years.”
Earnings Release Highlights * Third quarter GAAP Net Income (Loss) Attributable to Stockholders of $138 million. * Third quarter Adjusted EBITDA of $669 million and Adjusted Free Cash Flow of $433 million. * Announced $1.5 billion accelerated share repurchase program (“ASR”) expected to be complete by the end of the first quarter 2027. Upsized share repurchase program (“SRP”) to $3.0 billion through December 31, 2028 (including the ASR). * Reaffirming 2026 Adjusted EBITDA and Adjusted Free Cash Flow guidance ranges to $2,050 million - $2,200 million and $1,225 million - $1,325 million, respectively. * Introducing 2027 Adjusted EBITDA and Adjusted Free Cash Flow guidance ranges of $2,500 million - $2,850 million and $1,500 million - $1,750 million, representing approximately 26% and 27% growth at the midpoints compared with 2026 guidance. HOUSTON, Nov. 03, 2026 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen,” “TEC,” the “Company,” “we,” or “our”) (NASDAQ: TLN), a leading independent power producer, today reported its third quarter 2026 financial results and other highlights.
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