Talen Energy Q2 FY26 turns to GAAP net loss of USD 92 million; adjusted EBITDA more than doubled to USD 374 million
TLN•Q2 results and adjusted EBITDA
Talen Energy posted a GAAP net loss attributable to stockholders of USD 92 million in Q2 2026, swinging from profit a year earlier.
Adjusted EBITDA rose to USD 374 million, while adjusted free cash flow turned positive at USD 212 million versus negative a year earlier.
Adjusted EBITDA climbed due to higher energy and other revenues and higher capacity revenues, net of fuel and energy purchases.
Cornerstone acquisition and outlook
The company completed the Cornerstone Acquisition in June 2026, adding about 2.6 GW of generation capacity.
Talen Energy raised its 2026 adjusted EBITDA guidance to USD 2.03 billion-USD 2.23 billion and lifted its adjusted free cash flow outlook to USD 1.2 billion-USD 1.35 billion.
