Vistra's earnings call highlighted strong adjusted EBITDA performance, strategic growth through acquisitions, and advancements in energy transition projects. Despite some operational challenges due to unplanned outages and potential regulatory uncertainties, the company projects a positive outlook with increased future EBITDA expectations and successful strategic initiatives.

Company Guidance -

Q3 2025

During Vistra's Second Quarter 2025 Earnings Conference Call, the company provided several key metrics and guidance figures, reflecting a strong financial position and optimistic outlook. Vistra achieved an adjusted EBITDA of $1.349 billion for the quarter, with a reaffirmed guidance for 2025 adjusted EBITDA ranging from $5.5 billion to $6.1 billion, and adjusted free cash flow before growth projected between $3 billion and $3.6 billion. The company is also optimistic about its 2026 adjusted EBITDA midpoint opportunity, raising the expected floor to at least $6.8 billion, excluding contributions from recently acquired assets. Vistra announced plans to acquire seven modern natural gas facilities with a combined capacity of approximately 2,600 megawatts, which are expected to complement its existing fleet and diversify its geographical footprint. Furthermore, Vistra has returned over $6.5 billion to shareholders since 2021 through share repurchases and dividends, with plans to return an additional $1.8 billion by the end of 2026. The company also anticipates significant balance sheet deleveraging, aiming for an upgrade to investment-grade ratings.

Record Adjusted EBITDA Performance

Vistra achieved adjusted EBITDA of $1.349 billion for Q2 2025, maintaining strong financial performance with a reaffirmed guidance for 2025 adjusted EBITDA of $5.5 billion to $6.1 billion.

Natural Gas Facility Acquisition

Vistra plans to acquire 7 modern natural gas facilities from Lotus Infrastructure Partners, adding approximately 2,600 megawatts to their capacity, enhancing geographic diversification and dual fuel capabilities.

Increased 2026 EBITDA Projection

The 2026 adjusted EBITDA midpoint opportunity has been increased to at least $6.8 billion, excluding any contribution from Lotus assets, showing strong future performance outlook.

Strategic Energy Transition Advancements

Vistra continues to execute on solar and energy storage projects, with sites remaining on schedule for commercial operations in 2025 and 2026.

Successful Nuclear Power Plant Relicensing

The Perry Nuclear Power Plant received a license renewal through 2046, ensuring continued operations of this key baseload asset.

Vistra Energy (VST) Earnings, Revenues Date & History

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VST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	2.71 / -	1.023	―	―	―
Aug 05, 2025	2025 (Q2)	0.88 / 0.81	0.86	-5.23% (-0.05)
May 07, 2025	2025 (Q1)	0.54 / -0.93	-0.145	-541.38% (-0.79)
Feb 27, 2025	2024 (Q4)	2.22 / 1.10	-0.6	284.17% (+1.71)
Nov 07, 2024	2024 (Q3)	1.16 / 1.02	1.645	-37.81% (-0.62)
Aug 08, 2024	2024 (Q2)	1.38 / 0.86	1.152	-25.35% (-0.29)
May 08, 2024	2024 (Q1)	0.62 / -0.14	1.132	-112.81% (-1.28)
Feb 28, 2024	2023 (Q4)	-0.04 / -0.60	-0.74	18.92% (+0.14)
Nov 07, 2023	2023 (Q3)	1.59 / 1.65	1.511	8.87% (+0.13)
Aug 09, 2023	2023 (Q2)	0.88 / 1.15	-3.268	135.25% (+4.42)

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

VST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$214.06	$209.60	-2.08%
May 07, 2025	$144.62	$139.32	-3.66%
Feb 27, 2025	$147.75	$129.62	-12.27%
Nov 07, 2024	$125.51	$135.11	+7.65%

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.