Talen Energy Corp 2025年季度报告

Washington, D.C. 20549 FORM10-Q (Mark One)☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedSeptember 30, 2025OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number:001-37388 Talen Energy Corporation(Exact name of registrant as specified in its charter) 47-1197305 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 2929 Allen Pkwy, Suite 2200,Houston,TX77019(Address of principal executive offices) (Zip Code) (888)211-6011(Registrant’s telephone number, including area code) Not applicable(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 ofthe Exchange Act. ☒Large accelerated filer☐Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any newor revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of November5, 2025, the registrant had45,687,828shares outstanding of common stock, par value $0.001 per share (“common stock”). TALEN ENERGY CORPORATION AND SUBSIDIARIESQUARTERLY REPORT ON FORM 10-QTABLE OF CONTENTS CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This Quarterly Report on Form 10-Q (this “Report”) contains forward-looking statements concerning expectations, beliefs, plans,objectives, goals, strategies, and (or) future performance or other events, as well as underlying assumptions and other statements, that arenot statements of historical fact. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,”“target,” “project,” “forecast,” “seek,” “will,” “may,” “should,” “could,” “would,” or similar expressions. Although we believe that theexpectations and assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that theseexpectations and assumptions will prove to be correct. Forward-looking statements are subject to many risks and uncertainties. The results,events, or circumstances reflected in forward-looking statements may not be achieved or occur, and actual results, events, or circumstancesmay differ materially from those discussed in forward-looking statements. The risks, uncertainties, and other factors that could cause actual results to differ materially from the forward-looking statements madeby us include those discussed in this Report, as well as the items discussed in the sections entitled “Item 1A. Risk Factors” in this Reportand our most recent Annual Report on Form 10-K for the year ended December 31, 2024 (our “2024 Annual Report”), as updated by ourQuarterly Reports on Form 10-Q for the three months ended March 31, 2025 and June 30, 2025 (our “2025 Quarterly Reports”). Moreover,we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is notpossible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Report. You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statementscontained in this Report primarily on our current expectations and assumptions about future events. Furthermore, statements such as “webelieve” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on informationavailable to us as of the date of this Report. While we believe such information provides a reasonabl