Earnings ·
Talen Energy reports Q3 Adjusted EBITDA of $669M and launches $1.5B accelerated share repurchase program
TLNTalen Energy Corp
Talen Energy reported third-quarter GAAP net income attributable to stockholders of $138 million, down from $207 million in the prior-year period. Adjusted EBITDA rose 84% to $669 million and adjusted free cash flow increased to $433 million, driven by higher settled power prices, generation volumes, and capacity revenues following recent acquisitions. The company reaffirmed its 2026 guidance for Adjusted EBITDA ($2,050-$2,200 million) and introduced 2027 guidance reflecting approximately 26% growth at the midpoint. Additionally, Talen announced a $1.5 billion accelerated share repurchase program (ASR), bringing its total authorized buyback capacity to $3.0 billion through December 2028. The ASR is expected to settle by early 2027 and was funded by net proceeds from a $1.3 billion PJM capacity monetization agreement. Talen Energy operates as an independent power producer, owning and managing approximately 15.5 GW of generation infrastructure in the United States.