Overview

• Power generation firm's Q4 adjusted EBITDA beat analyst expectations

• Net income for Q4 decreased compared to last year

• Company plans to acquire Cogentrix Energy, adding 5,500 MW capacity

Outlook

• Vistra projects 2026 EBITDA between $6.8 bln and $7.6 bln

• Company expects 2026 FCFbG between $3.925 bln and $4.725 bln

• Vistra has hedged 100% of 2026 expected generation volumes

Result Drivers

• POWER PURCHASE AGREEMENTS - Vistra secured industry-leading PPAs for nuclear power with AWS and Meta, supporting long-term growth

• ACQUISITIONS - Successful acquisition of 2,600 MW from Lotus and plans to acquire Cogentrix Energy's 5,500 MW portfolio contributed to growth

• HEDGING IMPACT - Unrealized losses from hedging transactions affected net income but are expected to benefit future periods

Company press release: ID:nPn1jmDVSa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the electric utilities peer group is "buy"

• Wall Street's median 12-month price target for Vistra Corp is $229.50, about 30.9% above its February 25 closing price of $175.36

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 23 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)