$VST · Vistra Corp.
Vistra filed an 8-K (Item 2.02) reporting Q3 2026 results. Net income was $1.14B vs $652M a year ago, and Ongoing Operations Adjusted EBITDA rose over 50% to $2.38B. The company narrowed 2026 guidance to $7.1B–$7.5B EBITDA and $4.3B–$4.7B FCFbG, initiated 2027 guidance, and authorized an additional $1.5B buyback.
- Q3 net income $1.14B vs $652M prior year, up $488M.
- Ongoing Ops Adjusted EBITDA $2.38B, up over 50% YoY.
- 2026 EBITDA guidance narrowed to $7.1B–$7.5B.
- 2027 guidance initiated: $7.7B–$8.5B EBITDA, $4.3B–$5.1B FCFbG.
- Board authorized additional $1.5B buyback; ~$2.5B remaining through 2028.
Regular session closed down 6.15% to $112.89, but extended-hours last trade of $118.00 is +4.53% vs the regular close, indicating a positive after-hours reaction to the beat and raised guidance.
A 50% EBITDA jump, raised 2026 guidance, and a new 2027 outlook signal accelerating earnings power from power demand and pricing.
Vistra's results reflect strong power demand and pricing, with record ERCOT and PJM peak demand in July and ~95% fleet commercial availability.
Q3 included a $269M impairment of long-lived assets, including partial impairment of the Moss Landing 350 facility.