The earnings call indicates strong financial performance and growth prospects, supported by strategic acquisitions and operational successes. However, some challenges exist with unplanned outages and potential regulatory issues.

Company Guidance -

Q3 2025

During Vistra's Second Quarter 2025 Earnings Conference Call, the company reaffirmed its guidance for 2025, projecting an adjusted EBITDA range of $5.5 billion to $6.1 billion and adjusted free cash flow before growth between $3 billion and $3.6 billion. The company reported an adjusted EBITDA of $1.349 billion for the quarter. Vistra also highlighted its plans to acquire seven modern natural gas facilities from Lotus Infrastructure Partners, with a combined capacity of approximately 2,600 megawatts, and announced an increase in its 2026 adjusted EBITDA midpoint opportunity to at least $6.8 billion. The company remains committed to its strategic priorities, emphasizing its integrated business model and comprehensive hedging program, which provide increased earnings visibility and downside protection. Vistra is also focused on capital allocation, with plans to return approximately $1.8 billion to shareholders through share repurchases and dividends by the end of 2026, while maintaining a strong balance sheet to achieve investment-grade ratings.

Record Adjusted EBITDA

Achieved adjusted EBITDA of $1.349 billion for the quarter, demonstrating consistent execution across generation, commercial, and retail sectors.

Positive Growth Outlook

Reaffirming 2025 adjusted EBITDA guidance of $5.5 billion to $6.1 billion and adjusted free cash flow before growth of $3 billion to $3.6 billion.

Strategic Acquisition

Plans to acquire 7 modern natural gas facilities from Lotus Infrastructure Partners, totaling 2,600 MW, enhancing the fleet's capabilities.

Strong Retail Performance

Retail segment achieved strong customer count and margin performance, expected to outperform 2024 results.

Increased Free Cash Flow Conversion

Increasing targeted conversion rate of adjusted free cash flow before growth to adjusted EBITDA to at or above 60% starting in 2026.

Successful Relicensing

Successfully relicensed Perry Nuclear Power Plant through 2046, supporting long-term operational goals.

Share Repurchasing

Reduced shares outstanding by approximately 30% since 2021, increasing dividend per share by 50%.

Vistra Energy (DE:0V6) Earnings, Revenues Date & History

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DE:0V6 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	2.34 / -	0.879	―	―	―
Aug 05, 2025	2025 (Q2)	0.75 / 0.69	0.739	-6.98% (-0.05)
May 07, 2025	2025 (Q1)	0.46 / -0.80	-0.125	-541.38% (-0.67)
Feb 27, 2025	2024 (Q4)	1.91 / 0.95	-0.516	284.17% (+1.47)
Nov 07, 2024	2024 (Q3)	1.00 / 0.88	1.414	-37.81% (-0.53)
Aug 08, 2024	2024 (Q2)	1.19 / 0.74	0.99	-25.35% (-0.25)
May 08, 2024	2024 (Q1)	0.53 / -0.12	0.973	-112.81% (-1.10)
Feb 28, 2024	2023 (Q4)	-0.03 / -0.52	-0.636	18.92% (+0.12)
Nov 07, 2023	2023 (Q3)	1.36 / 1.41	1.299	8.87% (+0.12)
Aug 09, 2023	2023 (Q2)	0.75 / 0.99	-2.809	135.25% (+3.80)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:0V6 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	€185.10	€180.00	-2.76%
May 07, 2025	€125.84	€120.70	-4.09%
Feb 27, 2025	€140.43	€124.67	-11.22%
Nov 07, 2024	€115.91	€125.91	+8.63%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.