revenue $747.0M, net income -$92.0M. Talen closes Cornerstone acquisition, adds 2.6 GW capacity; operating income swings to loss

Filed August 5, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Completed Cornerstone Acquisition in June 2026 for $3.5B ($2.6B cash, $927M equity), adding 2.6 GW generation capacity and expanding footprint into Ohio and Indiana. Total capacity increased 49% to 15.7 GW.

  Notes: Cornerstone Acquisition verify on EDGAR →
• high

  Issued $4B unsecured notes (6.125% due 2031, 6.375% due 2033) in April 2026 to fund Cornerstone and redeem $1.2B secured notes at 8.63%, incurring $54M in one-time make-whole payments.

  Notes: Unsecured Notes issuance / Secured Notes redemption view on EDGAR →
• high

  Operating income swung income to $(72)M loss year-over-year, driven by $303M unfavorable unrealized derivative losses, partially offset by $149M higher capacity revenue and $149M higher energy margin.

  MD&A: Operating income swing to loss verify on EDGAR →