Vistra Corporation reported a third quarter 2025 GAAP net income of $652 million and Ongoing Operations Adjusted EBITDA of $1,581 million. Net income for the quarter decreased by $1,185 million compared to the third quarter of 2024, mainly due to lower unrealized mark-to-market gains on derivative positions and impacts from the Martin Lake Unit 1 outage, partially offset by nuclear production tax credit revenue and higher capacity prices. The company narrowed its 2025 Ongoing Operations Adjusted EBITDA guidance to a range of $5.7 billion to $5.9 billion and raised the midpoint and narrowed the range for Ongoing Operations Adjusted FCFbG to $3.3 billion to $3.5 billion. Vistra also initiated 2026 guidance, projecting Ongoing Operations Adjusted EBITDA between $6.8 billion and $7.6 billion and Ongoing Operations Adjusted FCFbG between $3.9 billion and $4.7 billion. During the period, approximately 2,600 MW of capacity was added to the company's portfolio across the Midwest, Northeast, and California markets.