NASDAQ: TLN
Talen Energy CorpCIK 0001622536 · SIC 4911 · Electric Services
Talen is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 13.1 GW of power infrastructure in the United States, including 2.2 GW of nuclear power and a significant dispatchable fossil fleet. We produce and sell… About this business →
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revenue $747.0M, net income -$92.0M. Talen closes Cornerstone acquisition, adds 2.6 GW capacity; operating income swings to loss
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Talen clears 10,180 MW in PJM 2028/2029 capacity auction at $325/MW-day, securing ~$1.2B
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Talen Energy closes $2.55B acquisition, expands credit facilities by
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Talen Energy refinances $2.6B in credit facilities, cuts interest rates and extends maturity
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revenue $1.13B, net income $63.0M. Talen announces acquisition, issues debt; Q1 results surge on extreme weather
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Talen Energy reports Q1 2026 earnings results
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Millions of Dollars, except share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Energy and other revenues | 722 | 366 | 1,756 | 948 |
| Capacity revenues | 237 | 88 | 444 | 137 |
| Unrealized gain (loss) on derivative instruments (Note 2) | (212) | 176 | (324) | (65) |
| Operating Revenues (Note 3) | 747 | 630 | 1,876 | 1,020 |
| Fuel and energy purchases | (357) | (150) | (920) | (418) |
| Nuclear fuel amortization | (22) | (18) | (46) | (44) |
| Unrealized gain (loss) on derivative instruments (Note 2) | 1 | (84) | (41) | (25) |
| Energy Expenses | (378) | (252) | (1,007) | (487) |
| Operating Expenses | ||||
| Operation, maintenance and development | (210) | (192) | (375) | (338) |
| General and administrative (Includes stock-based compensation of $(70), $(16), $(69) and $(27)) (Note 13) | (98) | (41) | (122) | (75) |
| Depreciation, amortization and accretion (Note 7) | (103) | (70) | (195) | (144) |
| Other operating income (expense), net | (30) | (9) | (39) | (16) |
| Operating Income (Loss) | (72) | 66 | 138 | (40) |
| Nuclear decommissioning trust funds gain (loss), net (Note 6) | 134 | 80 | 112 | 68 |
| Interest expense and other finance charges (Note 10) | (214) | (62) | (333) | (136) |
| Other non-operating income (expense), net | 23 | 13 | 35 | 18 |
| Income (Loss) Before Income Taxes | (129) | 97 | (48) | (90) |
| Income tax benefit (expense) (Note 4) | 37 | (25) | 19 | 27 |
| Net Income (Loss) Attributable to Stockholders | (92) | 72 | (29) | (63) |
| Per Common Share | ||||
| Net Income (Loss) Attributable to Stockholders Basic | (2.00) | 1.58 | (0.63) | (1.38) |
| Net Income (Loss) Attributable to Stockholders Diluted | (2.00) | 1.50 | (0.63) | (1.38) |
| Weighted-Average Number of Common Shares Outstanding Basic (in thousands) | 45,904 | 45,554 | 45,759 | 45,699 |
| Weighted-Average Number of Common Shares Outstanding Diluted (in thousands) | 45,904 | 47,905 | 45,759 | 45,699 |
Condensed Consolidated Balance Sheets (Unaudited)
(Millions of Dollars, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 231 | 689 |
| Restricted cash and cash equivalents (Note 16) | 7 | 63 |
| Accounts receivable (Note 3) | 294 | 196 |
| Inventory, net (Note 5) | 298 | 278 |
| Derivative instruments (Notes 2 and 11) | 131 | 56 |
| Other current assets | 67 | 67 |
| Total current assets | 1,028 | 1,349 |
| Property, plant and equipment, net (Note 7) | 11,928 | 7,546 |
| Nuclear decommissioning trust funds (Notes 6 and 11) | 1,997 | 1,900 |
| Derivative instruments (Notes 2 and 11) | 9 | 4 |
| Other noncurrent assets | 106 | 106 |
| Total Assets | 15,068 | 10,905 |
| Liabilities and Equity | ||
| Long-term debt, due within one year (Notes 10 and 11) | 29 | 29 |
| Accrued interest | 167 | 60 |
| Accounts payable and other accrued liabilities | 347 | 281 |
| Derivative instruments (Notes 2 and 11) | 573 | 101 |
| Stock-based compensation liabilities (Note 13) | 6 | 501 |
| Other current liabilities | 194 | 78 |
| Total current liabilities | 1,316 | 1,050 |
| Long-term debt (Notes 10 and 11) | 9,543 | 6,782 |
| Derivative instruments (Notes 2 and 11) | 150 | 67 |
| Postretirement benefit obligations (Note 12) | 214 | 229 |
| Asset retirement obligations and accrued environmental costs (Note 8) | 497 | 494 |
| Deferred income taxes | 904 | 486 |
| Acquired contract liabilities (Note 17) | 769 | 662 |
| Other noncurrent liabilities | 36 | 42 |
| Total Liabilities | 13,429 | 9,812 |
| Commitments and Contingencies (Note 9) | ||
| Stockholders' Equity (Note 15) | ||
| Common stock ($0.001 par value, 350,000,000 shares authorized) (a) | — | — |
| Additional paid-in capital | 2,533 | 1,709 |
| Accumulated retained earnings (deficit) | (905) | (612) |
| Accumulated other comprehensive income (loss) | (12) | (4) |
| Total Stockholders' Equity | 1,616 | 1,093 |
| Noncontrolling interests | 23 | — |
| Total Equity | 1,639 | 1,093 |
| Total Liabilities and Stockholders' Equity | 15,068 | 10,905 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Millions of Dollars)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net Income (Loss) | (29) | (63) |
| Non-cash reconciliation adjustments: | ||
| Unrealized (gains) losses on derivative instruments (Note 2) | 352 | 103 |
| Depreciation, amortization and accretion (Note 16) | 158 | 141 |
| Nuclear decommissioning trust funds (gain) loss, net (excluding interest and fees) (Note 6) | (85) | (44) |
| Nuclear fuel amortization (Note 7) | 46 | 44 |
| Deferred income taxes | (34) | (66) |
| Stock-based compensation (Note 13) | 69 | 27 |
| Other (Note 16) | 35 | 7 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (59) | (103) |
| Inventory, net | 10 | 78 |
| Other assets | 14 | 15 |
| Accounts payable and accrued liabilities | 20 | (57) |
| Accrued interest | 107 | 12 |
| Collateral received (posted), net | (35) | (58) |
| Cash settlement of stock-based awards (Note 13) | (495) | — |
| Other liabilities | (47) | (101) |
| Net cash provided by (used in) operating activities | 27 | (65) |
| Investing Activities | ||
| Property, plant and equipment expenditures (Note 7) | (181) | (51) |
| Nuclear fuel expenditures (Note 7) | (66) | (50) |
| Nuclear decommissioning trust funds investment purchases (Note 6) | (195) | (1,201) |
| Nuclear decommissioning trust funds investment sale proceeds (Note 6) | 173 | 1,186 |
| Cornerstone Acquisition, net (Note 17) | (2,568) | — |
| Other | 13 | 2 |
| Net cash provided by (used in) investing activities | (2,824) | (114) |
| Financing Activities | ||
| Debt issuances (Note 10) | 4,000 | — |
| Debt repayments (Note 10) | (1,215) | (9) |
| Deferred financing costs | (58) | (9) |
| Revolving credit facility borrowings (Note 10) | 500 | 75 |
| Revolving credit facility repayments (Note 10) | (500) | (5) |
| Share repurchases (Note 15) | (298) | (103) |
| Tax payments related to net-settled stock-based awards (Note 13) | (140) | — |
| Other | (6) | — |
| Net cash provided by (used in) financing activities | 2,283 | (51) |
| Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents | (514) | (230) |
| Beginning of period cash and cash equivalents and restricted cash and cash equivalents | 752 | 365 |
| End of period cash and cash equivalents and restricted cash and cash equivalents | 238 | 135 |
Amounts as printed on the EDGAR/iXBRL face — (Millions of Dollars, except share data); (Millions of Dollars). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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About Talen Energy Corp
Source: Item 1 (Business) from the 10-K filed February 26, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS
Talen is a leading independent power producer and energy infrastructure company dedicated to powering the future. We own and operate approximately 13.1 GW of power infrastructure in the United States, including 2.2 GW of nuclear power and a significant dispatchable fossil fleet. We produce and sell electricity, capacity, and ancillary services into wholesale U.S. power markets, with our generation fleet principally located in the Mid-Atlantic, Ohio, and Montana. Our team is committed to generating power safely and reliably and delivering the most value per megawatt produced. Talen is also powering the digital infrastructure revolution. We are well-positioned to serve this growing industry, as artificial intelligence data centers increasingly demand more reliable power.
Our Operations
Our Fleet
The following discussion provides a brief overview of our fleet. See “