Business
Talen Energy Reports Third Quarter 2024 Results, Raises and Narrows 2024 Guidance and Reaffirms 2025 Guidance
Earnings Release Highlights GAAP Net Income (Loss) Attributable to Stockholders of $168 million for the third quarter 2024 and $916 million
About this update from Talen Energy Corporation
[{"type":"text","content":"Earnings Release Highlights GAAP Net Income (Loss) Attributable to Stockholders of $168 million for the third quarter 2024 and $916 million year-to-date.Adjusted EBITDA of $230 million and Adjusted Free Cash Flow of $97 million for the third quarter 2024; year-to-date Adjusted EBITDA of $606 million and Adjusted Free Cash Flow of $262 million.Raising and narrowing 2024 guidance ranges: Adjusted EBITDA of $750 to $780 million and Adjusted Free Cash Flow of $265 to $285 million. Reaffirming 2025 guidance ranges: Adjusted EBITDA of $925 to $1,175 million and Adjusted Free Cash Flow of $395 to $595 million.Became the 100% owner of the Nautilus JV by completing the strategic purchase of TeraWulf’s remaining equity interest in Nautilus.Repurchased approximately 2.6 million shares of stock at an average price of $117.64 per share during the third quarter 2024.Added to five equity indices, driving substantial passive stock demand. HOUSTON, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen,” the “Company,” “we,” or “our”) (NASDAQ: TLN), an independent power producer dedicated to powering the future, today reported its third quarter 2024 financial and operating results. “Market and regulatory events over the last few months have further underscored how critical existing generation is to serving demand growth, largely driven by electrification and data centers, and to supporting grid reliability. Our fleet continued to run well this quarter, which is reflected in our year-to-date results. We are raising and narrowing our 2024 guidance ranges and reaffirming guidance for 2025,” said Talen President and Chief Executive Officer Mac McFarland. “Progress at the AWS data center campus is accelerating with our acquisition of TeraWulf’s minority share of the Nautilus JV, enabling the campus to access power more quickly and easily. We are obviously disappointed with the FERC’s recent decision on the Susquehanna ISA. That said, we are moving forward with AWS on commercial solutions,” McFarland continued. “We continue to execute on our share repurchase program, which has a remaining capacity of $1.2 billion.” Summary of Financial and Operating Results (Unaudited) (Millions of Dollars Unless Otherwise Stated) Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2024GAAP Net Income...