NRG Energy Stock Soars To Record High On Earnings Beat, 5GW Power Project With GE Vernova And Kiewit Corp: Retail’s Exuberant

NRG Energy (NRG) shares soared over 12% to a record high of $115.38 in morning trade Wednesday after the power company posted earnings that came in more than double the expectations. NRG also announced a major project with GE Vernova Inc. (GEV) and Kiewit Corp. to build four natural gas plants exceeding five gigawatts in capacity.

The company reported fourth-quarter earnings per share (EPS) of $3.01, nearly double the consensus estimate of $1.61. 

Revenue came in at $6.86 billion, missing Wall Street's forecast of $7.82 billion, according to Stocktwits data. 

NRG reaffirmed its full-year 2025 EPS guidance of $6.75 to $7.75, which is in line with analyst expectations of $7.37. It also projected adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) between $3.73 billion and $3.98 billion, compared to the consensus estimate of $3.87 billion.

Despite the revenue shortfall, investors cheered the earnings beat and the company’s strategic expansion plans.

NRG said the plants, expected to come online between 2029 and 2032, could be built in Texas or the eastern U.S. 

The company has also entered preliminary agreements with data center developers Menlo Equities and PowLan for 400 megawatts, with the potential to scale up to more than six gigawatts.

Shares of GE Vernova (GEV) also rose over 7% during morning trading, benefiting from the announcement.

NRG operates around a dozen sites capable of supporting large data centers with approximately 7.5 gigawatts of total capacity. 

Robert Gaudette, president of NRG’s business and wholesale operations, said on the company’s earnings call that these locations are ideal for hyperscalers. 

“We are actively engaged in discussions, and they remain our primary focus for near-term execution,” he said.

NRG CEO Larry Coben noted that data center demand remains strong, highlighting the high level of interest from companies. “We have more people beating down our doors,” he said. “All the hyperscalers are either reaffirming or expanding their capital commitments.”

The first 1.2-gigawatt project is expected to start operations in 2029, using two 7HA gas turbines secured under a slot reservation agreement with GE Vernova. 

The company said additional projects could be brought online through 2032, with the potential to expand the model to other U.S. regions and scale up to 10-15 gigawatts.

On Stocktwits, retail sentiment around NRG surged into the ‘extremely bullish’ zone from ‘bullish’ a day earlier, accompanied by a spike in message volume to ‘extremely high’ levels. 

Many users on the platform praised the company’s earnings performance and expansion plans. 

NRG's stock price has more than doubled in value over the past year.

Retail sentiment around GE Vernova also improved, remaining in the ‘bullish’ zone with an uptick in message volume to ‘high’ levels. 

Following the stock’s price surge, some users expressed fear of missing out on the rally, saying they regretted not buying the stock earlier. 

GE Vernova’s stock has nearly quadrupled in value over the past year.

Power-linked stocks broadly advanced on Wednesday after a report said Meta Platforms Inc. was in discussions to build a new data center campus for its AI projects, a development that could cost more than $200 billion.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<