Vistra Corp · Q3 2020 earnings

Briefing

Reported third quarter results above expectations and reaffirmed 2020 and 2021 guidance.

Vistra reported a net income of $442 million and an Ongoing Operations Adjusted EBITDA of $1,185 million for the third quarter of 2020, exceeding expectations. The company reaffirmed its 2020 and 2021 Ongoing Operations Adjusted EBITDA and Adjusted Free Cash Flow before Growth guidance ranges.

• Delivered third quarter 2020 Net Income of $442 million and Net Income from Ongoing Operations of $502 million.
• Third quarter 2020 Ongoing Operations Adjusted EBITDA was $1,185 million—results above expectations for the quarter.
• Reaffirmed 2020 Ongoing Operations Adjusted EBITDA and Ongoing Operations Adjusted Free Cash Flow before Growth guidance ranges, as raised and narrowed on Sept. 29, of $3,485 to $3,685 million and $2,375 to $2,575 million, respectively.
• Reaffirmed 2021 Ongoing Operations Adjusted EBITDA and Ongoing Operations Adjusted FCFbG guidance ranges, initiated on Sept. 29, of $3,075 to $3,475 million and $1,765 to $2,165 million, respectively.

Headline financials

Revenue & EPS history

Vistra is reaffirming both its 2020 and 2021 Ongoing Operations guidance ranges, forecasting 2020 Ongoing Operations Adjusted EBITDA of $3,485 to $3,685 million, 2020 Ongoing Operations Adjusted FCFbG of $2,375 to $2,575 million, 2021 Ongoing Operations Adjusted EBITDA of $3,075 to $3,475 million, and 2021 Ongoing Operations Adjusted FCFbG of $1,765 to $2,165 million.