Overview
- Vistra reported quarterly revenue of $4.02 billion, falling about $1.7 billion short of analyst expectations, while GAAP net income was $305 million that included a $472 million unrealized hedge loss.
- Ongoing Operations Adjusted EBITDA rose roughly 31% year over year to $1.77 billion, a metric company executives highlighted as the primary measure of performance.
- Management reaffirmed full‑year 2026 Adjusted EBITDA guidance of $6.8 billion to $7.6 billion and said realized energy and capacity prices, plus recent asset contributions, support that outlook.
- The company announced Helix Digital Infrastructure, a new power venture with KKR, the Kuwait Investment Authority and NVIDIA that Vistra will fund up to $1.0 billion and serve as the preferred power provider.
- Vistra also disclosed FERC approval for its pending Cogentrix acquisition, roughly $6.3 billion in available liquidity, heavy hedging coverage for 2026–2028, and about $1.2 billion of remaining buyback authorization which together preserve capital flexibility.