Vistra reported Q4 2025 net income of USD 233 million and FY 2025 net income of USD 944 million, which included an unrealized loss from hedges expected to settle in future years of USD 808 million. Cash flow from operations was USD 4.07 billion for FY 2025. Ongoing Operations Adjusted EBITDA was USD 1.74 billion in Q4 2025 and USD 5.91 billion for FY 2025, while FY 2025 Ongoing Operations Adjusted FCFbG was USD 3.59 billion. For 2026, Vistra issued guidance for Ongoing Operations Adjusted EBITDA of USD 6.8 billion to USD 7.6 billion and Ongoing Operations Adjusted FCFbG of USD 3.93 billion to USD 4.73 billion, excluding any potential impact from the planned Cogentrix acquisition. Business highlights included PPAs for about 3,800 MW of nuclear power with AWS at Comanche Peak and nuclear energy, capacity and uprates agreements with Meta covering more than 2,600 MW across PJM nuclear facilities, supporting subsequent 20-year license renewals for all four nuclear units. Vistra also announced plans to acquire Cogentrix Energy (about 5,500 MW of natural gas-fired capacity) with an expected mid-to-late 2026 close, and said it completed a 2,600-MW acquisition from Lotus Infrastructure Partners in November 2025. As of Feb. 18, 2026, Vistra had executed about USD 5.9 billion in share repurchases since November 2021, had about 337 million shares outstanding (a roughly 30% reduction vs. Nov. 2, 2021), and had about USD 1.8 billion remaining under its repurchase authorization.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Vistra Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-073364), on February 26, 2026, and is solely responsible for the information contained therein.