Strong Operational Performance
Vistra achieved a solid quarterly financial result with ongoing operations adjusted EBITDA of $1.444 billion despite milder Texas weather. The company raised its guidance for 2024 ongoing operations adjusted EBITDA to $5.0 billion to $5.2 billion.
Strategic Acquisitions and Share Repurchase
Vistra announced the acquisition of a 15% minority interest in Vistra Vision, expected to be highly accretive. The company repurchased approximately $400 million of shares in the open market in Q3, contributing to a total of $5.4 billion returned to investors since 2021.
Increased Retail Business Contribution
The retail business is now expected to contribute adjusted EBITDA in the range of $1.3 billion to $1.4 billion annually, up from the previously communicated range of $1 billion to $1.2 billion.
Capital Allocation and Financial Position
Vistra expects an additional $1.5 billion of capital available for allocation through year-end 2026, with net leverage expected to fall below 3x in 2025.