Vistra Q4 2024 Earnings Report

Key Takeaways

Vistra delivered strong Q4 2024 results, reporting significant year-over-year growth in net income and adjusted EBITDA. The company benefited from the Energy Harbor acquisition and increased revenues from nuclear production tax credits.

Net income of $490 million, compared to a loss of $184 million in Q4 2023.

Revenue grew 21.82% YoY, reaching $4.431 billion.

Ongoing operations adjusted EBITDA more than doubled YoY to $1.985 billion.

Strong liquidity position with $1.188 billion in cash and equivalents.

Total Revenue

$4.43B

Previous year: $3.08B

+44.0%

EPS

$1.45

Previous year: -$0.55

-363.6%

Adjusted EBITDA

$1.99B

Previous year: $965M

+105.7%

Ongoing Operations Net Income

$542M

Previous year: -$155M

-449.7%

Ongoing Operations Adjusted EBITDA

$1.99B

Previous year: $965M

+105.7%

Cash and Equivalents

$1.19B

Previous year: $3.49B

-65.9%

Free Cash Flow

$2.89B

Previous year: -$327M

-983.2%

Vistra Revenue

Vistra EPS

Vistra Revenue by Segment

Forward Guidance

Vistra reaffirmed its 2025 guidance, expecting strong financial performance supported by its comprehensive hedging program and clean energy investments.

Positive Outlook

2025 Adjusted EBITDA guidance range of $5.5 billion to $6.1 billion.
2025 Adjusted Free Cash Flow before Growth guidance of $3.0 billion to $3.6 billion.
100% of expected 2025 generation volumes hedged.
Expansion in clean energy investments, including solar and nuclear.
Continued cost efficiencies and operational improvements.

Challenges Ahead

Potential volatility in power markets could impact earnings.
Regulatory risks related to clean energy expansion.
High debt levels despite strong liquidity.
Integration risks from the Energy Harbor acquisition.
Uncertainty in long-term power demand trends.