Vistra Corp.'s Stock Analysis

Vistra Corp Reports Third Quarter 2025 Financial Results

Vistra Corp announced its financial results for the third quarter of 2025, reporting a net income of $652 million, which is a decrease of $1,185 million compared to the same quarter in 2024. The decline was mainly due to lower unrealized gains on derivatives and the outage of the Martin Lake Unit 1, although this was partially offset by increased nuclear production tax credit revenue and higher capacity prices. Additionally, the company's Ongoing Operations Adjusted EBITDA rose by $143 million year-over-year, driven by higher realized energy prices.

The company has made significant operational advancements, including plans for two new natural gas power units in the Permian, a 20-year power purchase agreement at the Comanche Peak Nuclear Power Plant, and the acquisition of seven natural gas plants, adding approximately 2,600 MW of capacity. As of September 30, 2025, Vistra reported total available liquidity of approximately $3.7 billion, which includes cash and credit facilities. The company has hedged a significant portion of its expected generation volumes for 2025 and 2026, supporting its narrowed guidance for 2025 and initiated guidance for 2026.

Nov 06, 2025 07:00:18

Vistra Completes $1.9 Billion Acquisition of Energy Assets

Vistra Operations Company LLC, a wholly-owned subsidiary of Vistra Corp, completed its acquisition of seven energy storage and natural gas facilities on October 22, 2025, for a base price of $1.9 billion. This transaction included the assumption of approximately $800 million in existing debt from the acquired companies. The acquisition enhances Vistra's generation capacity by approximately 2,600 megawatts and expands its operational footprint in key markets such as PJM, New England, New York, and California.

The acquisition aligns with Vistra's strategy to grow its diverse generation portfolio and improve its operational capabilities. The company aims to provide reliable and affordable power to customers while integrating the new facilities into its existing operations. Vistra has received all necessary regulatory approvals for this transaction, which underscores its commitment to enhancing its service offerings and operational efficiency in the energy sector.

Oct 28, 2025 16:30:11

Vistra Corp Completes $2 Billion Senior Secured Notes Offering

Vistra Operations Company LLC, a wholly owned subsidiary of Vistra Corp, has completed a private offering of $2 billion in senior secured notes. This offering includes three tranches: $750 million of 4.300% notes due in 2028, $500 million of 4.600% notes due in 2030, and $750 million of 5.250% notes due in 2035. The notes are secured by a first-priority interest in a substantial portion of the issuer's assets and will be guaranteed by subsidiary guarantors. The net proceeds from the offering are approximately $1.979 billion and will be used for refinancing existing debt, general corporate purposes, and related fees and expenses. Interest on the notes will be payable semi-annually starting April 15, 2026, with maturity dates ranging from 2028 to 2035.

The indenture for the secured notes includes provisions for redemption and repurchase in certain circumstances. The issuer may redeem the notes at specified times before their maturity dates at a price equal to the principal amount plus any accrued interest. Additionally, in the event of a change of control or a downgrade in ratings, the issuer must offer to repurchase the notes at a premium. The indenture also imposes certain restrictions on the issuer and its subsidiaries, including limitations on creating liens and asset sales.

Oct 15, 2025 16:01:24

Vistra Corp Extends Credit Agreement Maturity Date to 2026

On October 1, 2025, Vistra Operations Company LLC, a subsidiary of Vistra Corp, amended its existing credit agreement. This amendment extends the maturity date of the revolving credit from October 1, 2025, to September 30, 2026, and modifies the calculation of the Borrowing Base along with related definitions.

The amendment is part of the Commodity Linked Credit Agreement originally dated February 4, 2022, and includes additional conforming changes. Details of the amendment will be included in the company's next periodic report, which may provide further insights into its financial obligations.

Oct 06, 2025 06:01:33

Vistra Corp Secures Long-Term Power Purchase Agreement

Vistra Corp has entered into a 20-year power purchase agreement with a large investment-grade company to supply 1,200 MW of carbon-free power from the Comanche Peak Nuclear Power Plant. Power delivery is expected to commence in the fourth quarter of 2027, reaching full capacity by 2032. This agreement could lead to an estimated 8-10% increase in Adjusted Free Cash Flow before Growth if the customer utilizes the full capacity.

Vistra is a Fortune 500 integrated retail electricity and power generation company based in Texas, operating a diverse fleet of energy facilities. The company emphasizes reliability, affordability, and sustainability in its operations. The announcement of this agreement may influence investor sentiment due to its potential impact on future cash flow and operational stability.

Sep 29, 2025 08:00:18

Vistra Reports Second Quarter 2025 Financial Results and Updates

Vistra Corp reported its financial results for the second quarter of 2025, showing a net income of $327 million and net income from ongoing operations of $370 million. This represents a decrease of $140 million compared to the same quarter in 2024, primarily due to higher plant outage expenses and increased depreciation. Ongoing Operations Adjusted EBITDA for the quarter was $1,349 million, down $63 million from the previous year. The company has hedged approximately 100% of its expected generation volumes for 2025, supporting its guidance for the year.

In addition to its financial performance, Vistra announced a definitive agreement to acquire a 2,600-MW natural gas generation fleet across several electricity markets and received NRC approval for an extension of its Perry Nuclear Power Plant license through 2046. As of June 30, 2025, Vistra had total available liquidity of approximately $2,618 million. The company continues to focus on expanding its fleet of zero-carbon resources, including nuclear, solar, and energy storage, while maintaining a strategic approach to its core business operations.

Aug 07, 2025 07:00:44

Vistra Corp Clears 10,314 MW in Capacity Auction Results

On July 22, 2025, Vistra Corp announced its results from the PJM Capacity Auction for the planning year 2026/2027, clearing approximately 10,314 megawatts (MW) at a weighted average clearing price of $329.17 per megawatt-day. The company operates a diverse fleet of power generation facilities, including natural gas, nuclear, coal, solar, and battery energy storage, serving customers across the United States.

Vistra Corp is recognized as a leading integrated retail electricity and power generation company, focused on reliability, affordability, and sustainability. The company emphasizes a customer-centric approach in its retail business and is based in Irving, Texas. Investors should note that various risks and uncertainties could impact Vistra's financial performance, as detailed in its filings with the Securities and Exchange Commission.

Jul 22, 2025 21:03:52

Vistra Corp Amends Financial Agreements to Increase Funding Capacity

Vistra Corp's subsidiaries, TXU Energy Retail and TXU Energy Receivables, have amended their Receivables Purchase Agreement, increasing the total commitment from $1.0 billion to $1.1 billion and extending the term until July 10, 2026. This amendment aims to enhance the company's liquidity and financial flexibility.

Additionally, the Master Framework Agreement with MUFG Bank has also been amended to extend its term until July 10, 2026. These changes may positively impact Vistra Corp's financial obligations and overall funding capabilities.

Jul 16, 2025 16:35:49

Vistra Corp. Announces Acquisition of Natural Gas Generation Assets

Vistra Corp. has entered into an agreement to acquire seven natural gas generation facilities totaling approximately 2,600 megawatts from Lotus Infrastructure Partners for about $1.9 billion. This acquisition is expected to enhance Vistra's existing generation portfolio and is priced at approximately $743 per kilowatt of capacity. The company plans to finance the transaction through a combination of cash on hand and the assumption of a term loan from Lotus, with the deal anticipated to close in late 2025 or early 2026, pending regulatory approvals.

The acquisition is expected to provide immediate benefits to Vistra's shareholders, including accretion in ongoing operations. The company reiterated its commitment to a capital allocation plan that includes a long-term net leverage target of less than 3x and plans to return capital to shareholders through $300 million in annual dividends and at least $1 billion in share repurchases each year. The transaction is viewed as a strategic move to bolster Vistra's presence in key competitive markets.

May 21, 2025 08:13:53

Vistra Reports Q1 2025 Financial Results and Guidance Update

Vistra Corp. reported a net loss of $268 million for the first quarter of 2025, with cash flow from operations amounting to $599 million. The net loss from ongoing operations was $200 million, while ongoing operations adjusted EBITDA reached $1,240 million, reflecting a $430 million increase compared to the same quarter last year. This performance was attributed to strong retail operations and higher wholesale prices, despite challenges from unrealized mark-to-market losses on derivative positions due to rising energy prices. Vistra reaffirmed its 2025 ongoing operations adjusted EBITDA guidance range of $5.5 billion to $6.1 billion and ongoing operations adjusted free cash flow guidance of $3.0 billion to $3.6 billion.

Additionally, Vistra has executed approximately $5.2 billion in share repurchases since November 2021, reducing its shares outstanding by around 30%. The company maintains a robust liquidity position with approximately $3.9 billion available as of March 31, 2025. Vistra is also advancing its clean energy initiatives, including the construction of new solar and energy storage projects, and has hedged nearly all of its expected generation volumes for 2025. This strategic focus on reliability and sustainability positions Vistra to meet growing power demand while delivering value to shareholders.

May 07, 2025 07:00:34