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Sep 30, 2021
Vistra Q3 2021 Earnings Report
Vistra's financial performance remained strong, with net income and adjusted EBITDA from ongoing operations reported, and long-term capital allocation plans announced.
Key Takeaways
Vistra reported a net income of $10 million and net income from ongoing operations of $16 million for the third quarter of 2021. The ongoing operations adjusted EBITDA was $1,177 million. The company announced plans to return at least $7.5 billion to common stockholders through year-end 2026.
Net Income was $10 million and Net Income from Ongoing Operations was $16 million.
Ongoing Operations Adjusted EBITDA was $1,177 million.
The company announced a $2 billion share repurchase program.
Vistra expects to commit $300 million annually toward its common dividend program.
Revenue by Segment
Forward Guidance
Vistra raised and narrowed its 2021 Ongoing Operations Adjusted EBITDA guidance range to $1,890 to $2,090 million and revised and narrowed its 2021 Ongoing Operations Adjusted FCFbG guidance range to $100 to $300 million. Vistra is initiating its 2022 Ongoing Operations guidance ranges, forecasting Ongoing Operations Adjusted EBITDA of $2,810 to $3,310 million and Ongoing Operations Adjusted FCFbG of $2,070 to $2,570 million.
Positive Outlook
- Vistra is raising and narrowing its 2021 Ongoing Operations Adjusted EBITDA1 guidance range to $1,890 to $2,090 million.
- Vistra is revising and narrowing its 2021 Ongoing Operations Adjusted FCFbG1 guidance range to $100 to $300 million.
- Vistra is initiating its 2022 Ongoing Operations guidance ranges, forecasting Ongoing Operations Adjusted EBITDA1 of $2,810 to $3,310 million.
- Vistra is forecasting Ongoing Operations Adjusted FCFbG1 of $2,070 to $2,570 million.
- Vistra's 2022 guidance ranges include the negative impact of ~$185 million from bill credits applied to large commercial and industrial customers that curtailed during Uri and the negative impact of ~$55 million from the execution of NPV-positive, long-dated contracts with retail customers.
Challenges Ahead
- Vistra's 2022 guidance ranges include the negative impact of ~$185 million from bill credits applied to large commercial and industrial customers that curtailed during Uri.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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