NYSE$VST

Vistra Corp · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported first quarter 2023 financial results, highlighting net income and adjusted EBITDA.

Vistra reported a strong first quarter with a Net Income of $698 million and Ongoing Operations Adjusted EBITDA of $554 million. The company is progressing with its strategic priorities, including the acquisition of Energy Harbor Corp., and continues its share repurchase program.

  • Recorded first quarter 2023 Net Income of $698 million and Net Income from Ongoing Operations of $725 million and achieved Ongoing Operations Adjusted EBITDA of $554 million.
  • Reaffirmed 2023 Ongoing Operations Adjusted EBITDA and Ongoing Operations Adjusted FCFbG guidance ranges.
  • Made progress towards closing the acquisition of Energy Harbor Corp., which is expected in fourth quarter 2023.
  • Continued to execute on the $4.25 billion share repurchase program, repurchasing ~$2.7 billion from Nov. 2, 2021 through May 4, 2023, representing a repurchase of ~23% of the shares outstanding.

Headline financials

Total Revenue

$4.43B

Previous: $3.13B+41.6%
EPS (adj)

$1.71

Previous: -$0.72+337.5%
Ongoing Operations Net Income

$725M

Previous: -$222M+426.6%
Capital Expenditures

-$484M

Previous: -$373M-29.8%
Free Cash Flow

$215M

Previous: -$658M+132.7%
Net Income

$699M

Previous: -$285M+345.3%
Operating Income

$1.13B

Previous: -$288M+492.7%
Gross Profit

$4.43B

Previous: $3.13B+41.6%
Cash & Equivalents

$518M

Previous: $1.02B-49.3%
Total Assets

$31.1B

Previous: $32.8B-5.2%
Stock-Based Comp

$22M

Previous: $14M+57.1%

Revenue & EPS history

Vistra · Revenue · Quarterly

$4.43B

Q1 2023+41.6%vs Q1 2022
Beat estimate in 5 of 14 quarters(36%)
ActualEstimate

Revenue by segment

Vistra · $349M total across 6 segments · Q1 2023

  • Texas
    $383M+124.0%
  • West
    $46M+84.0%
  • East
    $1M-99.3%
  • Corporate and Other
    -$11M
  • Retail
    -$29M-117.8%
  • Asset Closure
    -$41M-583.3%

Forward guidance

Vistra reaffirmed its 2023 guidance ranges of Ongoing Operations Adjusted EBITDA of $3,400 million to $4,000 million and Ongoing Operations Adjusted FCFbG of $1,750 million to $2,350 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.3%

Avg return

Earnings day

+0.3%

Avg return

5 days after

+2.0%

Avg return

30 days after

50%

19 / 38 earnings

Positive

+14.0%

Q1 2024

Best reaction

-23.5%

Q4 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.2%-7.3%-6.0%
Q4 2025-0.9%-7.8%-11.3%
Q3 2025-2.6%-5.4%-11.7%
Q2 2025+2.4%+4.3%-6.4%
Q1 2025-3.7%+0.9%+19.9%
Q4 2024-12.3%-14.3%-19.7%
Q3 2024+12.5%+12.7%+26.9%
Q2 2024+6.3%+8.8%-0.3%
Q1 2024+14.0%+10.3%+4.1%
Q4 2023+7.0%+11.8%+36.6%
Q3 2023-1.9%-2.4%+5.2%
Q2 2023+6.5%+5.2%+18.2%
Q1 2023+7.9%+4.9%+6.2%
Q4 2022-3.2%+10.9%+9.1%
Q3 2022+2.6%+1.4%+3.3%
Q2 2022-3.5%-1.8%-2.6%
Q1 2022-5.0%-4.4%+1.7%
Q4 2021+5.3%+2.5%+4.9%
Q3 2021+2.8%+1.2%+7.8%
Q2 2021-1.9%-2.2%+1.1%
Q1 2021-3.7%-3.5%-7.2%
Q4 2020-23.5%-27.8%-25.9%
Q3 2020+0.5%+2.8%+4.1%
Q2 2020+0.4%+2.3%-2.8%
Q1 2020-3.9%-0.4%+6.9%
Q4 2019-2.2%+2.2%-20.4%
Q3 2019-5.9%-5.0%-10.7%
Q2 2019+0.8%+2.4%+15.8%
Q1 2019-3.4%-7.6%-13.5%
Q4 2018+1.5%-2.6%-0.5%
Q3 2018+8.1%+7.0%+1.6%
Q2 2018+3.8%+0.7%+1.6%
Q1 2018+2.9%-0.6%+5.2%
Q4 2017-0.2%+3.0%+11.1%
Q3 2017+1.3%-1.3%-2.0%
Q2 2017+5.2%+5.5%+10.3%
Q1 2017-0.3%-0.6%+10.7%
Q4 2016-0.9%+4.5%+5.2%
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014

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