Vistra Corp. (VST) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this company have returned +10.8% over the past month versus the Zacks S&P 500 composite's +3% change. The Zacks Utility - Electric Power industry, to which Vistra belongs, has lost 0.7% over this period. Now the key question is: Where could the stock be headed in the near term?While media ...

Vistra Corp. (VST) reported $6.29 billion in revenue for the quarter ended September 2024, representing a yearover-year increase of 53.9%. EPS of $5.25 for the same period compares to $1.25 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $4.96 billion, representing a surprise of +26.75%. The company delivered an EPS surprise of +323.39%, with the consensus EPS estimate being $1.24. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Vistra (VST) reported third-quarter 2024 earnings of $5.25 per share, which beat the Zacks Consensus Estimate of $1.24 by 323.4%. The bottom line also increased 320% from the year-ago quarter’s figure of $1.25.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Total Revenues of VSTSales for the quarter totaled $6.29 billion, which surpassed the Zacks Consensus Estimate of $4.96 billion by 26.7%. The top line also increased 53.8% from $4.09 billion recorded in the year-ago quarter.VST’s ...

Financial Performance - Operating revenues for Q3 2024 increased to $6.288 billion, up from $4.086 billion in Q3 2023, representing a 53.9% growth[12] - Net income for Q3 2024 rose to $1.837 billion, compared to $502 million in Q3 2023, a 266% increase[12] - Net income per diluted share for Q3 2024 was $5.25, up from $1.25 in Q3 2023[12] - Total comprehensive income for Q3 2024 was $1.838 billion, compared to $500 million in Q3 2023[13] - Net income for the quarter ending June 30, 2024, was $467 million, driven by strong performance across key segments[20] - Net income attributable to Vistra for the nine months ended September 30, 2024 was $2.218 billion, compared to $1.677 billion for the same period in 2023[77] - Diluted earnings per share for the nine months ended September 30, 2024 was $5.86, up from $4.13 in the same period in 2023[77] - Revenues for the three months ended September 30, 2024, were $6.288 billion, a 29% increase from $4.872 billion in the same period in 2023[48] - Net income for the three months ended September 30, 2024, was $1.837 billion, a 385% increase from $379 million in the same period in 2023[48] Cash Flow and Capital Expenditures - Cash provided by operating activities for the nine months ended September 30, 2024, was $3.210 billion, down from $4.572 billion in the same period in 2023[14] - Capital expenditures, including nuclear fuel purchases and LTSA prepayments, totaled $1.648 billion for the nine months ended September 30, 2024[14] - Cash, cash equivalents, and restricted cash at the end of September 2024 stood at $940 million, down from $3.225 billion at the end of September 2023[15] - Cash and cash equivalents decreased to $905 million as of September 30, 2024, from $3.485 billion as of December 31, 2023[16] Acquisitions and Mergers - The company completed the Energy Harbor acquisition for $3.065 billion (net of cash acquired) in 2024[14] - The Energy Harbor Merger was completed on March 1, 2024, with a total purchase price of $4.596 billion, including $3.1 billion in cash consideration and $1.496 billion in fair value of net assets contributed to Vistra Vision[43] - Vistra maintained an 85% ownership interest in Vistra Vision post-merger, with the remaining 15% recorded as a noncontrolling interest[44] - The fair value of identifiable assets acquired in the Energy Harbor Merger was $8.923 billion, with adjustments of $138 million during the measurement period[45] - The fair value of identifiable liabilities assumed in the Energy Harbor Merger was $3.735 billion, with adjustments of $63 million during the measurement period[45] - Goodwill of $219 million was recorded as a result of the Energy Harbor Merger, representing expected synergies from combining operations[46] - Acquisition costs for the Energy Harbor Merger totaled $1 million for the three months ended September 30, 2024, compared to $8 million in the same period in 2023[49] Stock Repurchases and Dividends - Stock repurchases amounted to $1.021 billion for the nine months ended September 30, 2024[14] - Stock repurchases totaled $1,022 million from December 31, 2023, to September 30, 2024, reducing treasury stock[20] - Dividends declared on common stock amounted to $230 million for the nine months ending September 30, 2024[20] - Dividends declared on preferred stock totaled $135 million for the nine months ending September 30, 2024[20] - The Board authorized an additional $1.0 billion for share repurchases under the Share Repurchase Program in October 2024[40] Debt and Financing - The company issued $2.200 billion in long-term debt during the nine months ended September 30, 2024[14] - Long-term debt, less amounts due currently, increased to $13.945 billion as of September 30, 2024, from $12.116 billion as of December 31, 2023[16] - Long-term debt including debt due currently was $14.730 billion as of September 30, 2024, up from $14.402 billion at December 31, 2023[92] - Accounts receivable financing increased to $750 million as of September 30, 2024, compared to none at December 31, 2023[92] - Vistra Operations' total long-term debt as of September 30, 2024, is $14.73 billion, with $13.945 billion excluding amounts due currently[94][96] - Vistra Operations' credit facilities total $7.928 billion, including $5.656 billion in senior secured revolving credit commitments and term loans[97][98] - The Revolving Credit Facility was amended in October 2024, increasing revolving credit commitments to $3.44 billion and extending the maturity date to October 11, 2029[98] - The Term Loan B-3 Facility has a weighted average interest rate of 6.85% on outstanding borrowings of $2.481 billion as of September 30, 2024[100] - Vistra Operations' Commodity-Linked Facility was amended in October 2024, increasing aggregate available commitments to $1.75 billion and extending the maturity date to October 1, 2025[105] - The borrowing base of the Commodity-Linked Facility is $633 million as of September 30, 2024, with the potential to increase to $3.0 billion[105] - Vistra Operations' senior secured notes total $3.894 billion as of September 30, 2024, down from $5.65 billion as of December 31, 2023[94] - Vistra Operations' senior unsecured notes total $7.3 billion as of September 30, 2024, up from $6.3 billion as of December 31, 2023[94] - The applicable interest rate margin for the Revolving Credit Facility is 1.725%, with a fee of 27.0 basis points on undrawn amounts as of September 30, 2024[99] - The applicable interest rate margin for the Commodity-Linked Facility is 1.725%, with a fee of 27.0 basis points on undrawn amounts as of September 30, 2024[108] - Vistra Zero entered into a $700 million senior secured term loan (Term Loan B Facility) on March 26, 2024, with net proceeds of $690 million used for working capital and general corporate purposes[110] - The weighted average interest rate on the Term Loan B Facility was 7.60% as of September 30, 2024, with quarterly payments of $1.75 million required[111] - Vistra Operations issued $500 million of 6.000% senior secured notes due 2034 in April 2024, with net proceeds of approximately $495 million used for general corporate purposes[117] - Vistra Operations issued $1.0 billion of 6.875% senior unsecured notes due 2032 in April 2024, with net proceeds of approximately $990 million used for general corporate purposes[121] - Vistra Operations repurchased $759 million of senior secured notes in January 2024, recording an extinguishment gain of $6 million[124] - The Board authorized the voluntary repayment or repurchase of up to $1.0 billion of outstanding debt, with authorization expiring on December 31, 2024[125] - The Receivables Facility was amended to increase the purchase limit from $750 million to $1.0 billion in April 2024, with outstanding borrowings totaling $750 million as of September 30, 2024[126][128] - The Repurchase Facility was renewed until July 2025 with a facility size of $125 million[129] - There were no outstanding borrowings under the Repurchase Facility as of September 30, 2024 and December 31, 2023[131] Equity and Retained Earnings - Total equity increased to $5.455 billion as of September 30, 2024, from $5.322 billion as of December 31, 2023[18] - Retained deficit improved to $(759) million as of September 30, 2024, from $(2.613) billion as of December 31, 2023[18] - Redeemable noncontrolling interest was $3.198 billion as of September 30, 2024, compared to $0 as of December 31, 2023[17] - Total equity increased from $5,322 million at December 31, 2023, to $7,307 million at June 30, 2024, reflecting growth in retained earnings and additional paid-in capital[20] - Equity issued to acquire Energy Harbor contributed $2,307 million to total equity in Q1 2024[20] - Accumulated other comprehensive income increased by $1 million in Q3 2024, reflecting favorable market conditions[20] - Noncontrolling interest in subsidiaries decreased by $3,198 million in Q3 2024 due to modifications in ownership structure[20] - Retained deficit improved significantly, decreasing from $(2,613) million at December 31, 2023, to $(759) million at September 30, 2024[20] - Additional paid-in capital increased by $1,389 million from December 31, 2023, to September 30, 2024, primarily due to equity issuance and stock-based compensation[20] Revenue and Segment Performance - Retail energy charge revenue in ERCOT for the three months ended September 30, 2024, was $2.5 billion, contributing significantly to total revenue from contracts with customers[55] - Total other revenues for the three months ended September 30, 2024, were $1.947 billion, including $1.960 billion of unrealized net gains from mark-to-market valuations of commodity positions[55] - Intersegment sales for the three months ended September 30, 2024, included $1.456 billion in the Texas segment, $57 million in the East segment, and $68 million in the Sunset segment[56] - Retail energy charge in ERCOT generated $2.667 billion in revenue for the three months ended September 30, 2023[58] - Total revenue from contracts with customers for the three months ended September 30, 2023 was $4.789 billion[58] - Wholesale generation revenue from ISO/RTO capacity was $1.289 billion for the three months ended September 30, 2023[58] - Retail energy charge in ERCOT generated $6.241 billion in revenue for the nine months ended September 30, 2024[61] - Total revenue from contracts with customers for the nine months ended September 30, 2024 was $11.099 billion[61] - Wholesale generation revenue from ISO/RTO capacity was $1.290 billion for the nine months ended September 30, 2024[61] - Unrealized net gains from mark-to-market valuations of commodity positions totaled $1.571 billion for the nine months ended September 30, 2024[62] - Intersegment unrealized net gains in the Texas segment were $547 million for the nine months ended September 30, 2024[62] - Intersegment unrealized net losses in the East segment were $114 million for the nine months ended September 30, 2024[62] - Retail energy charge in ERCOT generated $6,079 million in revenue[64] - Wholesale generation revenue from ISO/RTO amounted to $1,242 million[64] - Total revenue from contracts with customers reached $10,924 million[64] - Unrealized net gains from mark-to-market valuations totaled $1,020 billion[65] - Remaining performance obligations for 2024-2029 and thereafter total $3,052 million[66] Assets and Liabilities - Total assets increased to $37.878 billion as of September 30, 2024, compared to $32.966 billion as of December 31, 2023[16] - Trade accounts receivable increased to $2.179 billion as of September 30, 2024, from $1.674 billion as of December 31, 2023[16] - Inventories increased to $949 million as of September 30, 2024, from $740 million as of December 31, 2023[16] - Goodwill increased to $2.802 billion as of September 30, 2024, up from $2.583 billion at December 31, 2023, primarily due to the Energy Harbor Merger[78] - Identifiable intangible assets subject to amortization totaled $816 million as of September 30, 2024, up from $523 million at December 31, 2023[80] - Estimated amortization expense of identifiable intangible assets for 2024 is $313 million, with $222 million projected for 2025[85] - Total assets measured at fair value increased to $8,184 million as of September 30, 2024, from $6,173 million as of December 31, 2023[152] - Total liabilities measured at fair value decreased to $4,704 million as of September 30, 2024, from $6,946 million as of December 31, 2023[152] - Trade accounts receivable as of September 30, 2024, stood at $2,179 million[67] - Allowance for uncollectible accounts increased by $132 million in 2024[68] Derivatives and Risk Management - Vistra has entered into interest rate swaps with notional amounts of $3,000 million (fixed), $700 million (variable), and $1,625 million (fixed), expiring between July 2026 and December 2030[135][136] - As of September 30, 2024, Vistra's derivative contractual assets and liabilities totaled $3,690 million in assets and $4,654 million in liabilities, resulting in a net liability of $964 million[139] - Commodity contracts contributed $1,206 million to operating revenues and $128 million to fuel, purchased power costs, and delivery fees for the three months ended September 30, 2024[140] - Interest rate swaps resulted in a $73 million loss in interest expense and related charges for the three months ended September 30, 2024[140] - Gross notional amounts of natural gas derivatives were 4,775 million MMBtu as of September 30, 2024, down from 5,335 million MMBtu as of December 31, 2023[145] - Electricity derivatives had a gross notional amount of 786,155 GWh as of September 30, 2024, compared to 800,001 GWh as of December 31, 2023[145] - Financial transmission rights derivatives totaled 243,755 GWh as of September 30, 2024, down from 250,895 GWh as of December 31, 2023[145] - Interest rate swaps with variable/fixed rates had a gross notional amount of $4,625 million as of September 30, 2024, compared to $5,225 million as of December 31, 2023[145] - Derivative contract liabilities fair value decreased to $1,369 million as of September 30, 2024, from $1,890 million as of December 31, 2023[147] - Total credit risk exposure related to derivative contracts was $4.077 billion as of September 30, 2024, with net exposure of $827 million after netting arrangements and collateral[148] - The banking and financial sector represented 75% of total credit risk exposure and 25% of net exposure as of September 30, 2024[148] - NDT debt securities had an average coupon rate of 3.96% as of September 30, 2024, with $1.011 billion maturing in one to five years, $616 million in five to 10 years, and $478 million after 10 years[153] - Natural gas to power correlation ranged from 10% to 100%, with an average of 55% as of September 30, 2024[156] - Power and natural gas volatility ranged from 5% to 710%, with an average of 359% as of September 30, 2024[157] - Illiquid delivery periods for hub power prices and Heat Rates ranged from $35 to $20 MWh, with an average of $7 MWh as of September 30, 2024[159] - Electricity purchases and sales fair value was $773 million in assets and $1,235 million in liabilities, resulting in a net value of $(462) million as of September 30, 2024[160] - Total net liabilities for electricity purchases and sales contracts amounted to $824 million, with assets at $449 million and liabilities at $1,273 million[161] - The average hourly price curve shape for electricity contracts ranged from $85 to $44 per MWh, with an average of $44[161] - Natural gas to power correlation ranged from 10% to 100%, with an average of 55%[161] - Power and natural gas volatility ranged from 10% to 870%, with an average of 441%[161] - The net liability balance at the end of the period was $517 million, down from $1,284 million at the beginning of the period[164] - Unrealized valuation gains for the period were $361 million, compared to losses of $486 million in the previous period[164] Legal and Regulatory Matters - The company faces litigation related to natural gas index pricing manipulation claims dating back to 2000-2002, with a class certification appeal pending in the Seventh Circuit Court[183] - A complaint filed by the Illinois Attorney General against IG&E alleges improper marketing and overcharging, with claims now limited to the period starting May 2017[184] - The company is involved in legal proceedings related to Ohio House Bill 6, with civil RICO complaints pending against Energy Harbor companies[185] - The Texas Supreme Court reversed a lower court decision, upholding the PUCT's pricing orders related to Winter Storm Uri[187] - Multiple personal injury and

| --- | --- | --- | --- | --- | |------------------|----------------------------|-------|--------------|-----------------| | | | | | | | | | | | | | VISTRA | | | | | | | | | | ...... | | | Third Quarter 2024 Results | | .......... | ..... .... | | November 7, 2024 | | | ............ | .... .... | | | | | .......... | ......... ... . | | --- | --- | --- ...

Financial Data and Key Metrics Changes - The ongoing operations adjusted EBITDA for Q3 2024 was reported at $1.444 billion, despite milder weather conditions in Texas [9] - The guidance for 2024 ongoing operations adjusted EBITDA has been raised to a range of $5.0 billion to $5.2 billion, with a midpoint above the previous upper end [10] - The ongoing operations adjusted free cash flow before growth guidance for 2024 has also been raised to $2.65 billion to $2.85 billion [10][37] - For 2025, the ongoing operations adjusted EBITDA guidance is set at $5.5 billion to $6.1 billion, with a midpoint of $5.8 billion, higher than the previous range [12] Business Line Data and Key Metrics Changes - The retail business is expected to contribute adjusted EBITDA in the range of $1.3 billion to $1.4 billion annually, up from previous expectations of $1 billion to $1.2 billion [39] - The inclusion of Energy Harbor contributed approximately $165 million to generation and $35 million to retail in Q3 2024 [36] Market Data and Key Metrics Changes - The company noted robust load growth in both PJM and ERCOT markets, exceeding historical rates and trending towards long-term forecasts [31] - The demand growth is driven by factors such as large chip manufacturing facilities, electrification in the Permian Basin, and data center expansions [30] Company Strategy and Development Direction - The company maintains four key strategic priorities, focusing on an integrated business model and comprehensive hedging program to enhance financial performance visibility [19] - The acquisition of the Vistra Vision 15% minority interest is viewed as an attractive investment in carbon-free assets and retail franchise [26] - The company plans to allocate approximately $700 million in 2024 and 2025 for development projects, including solar projects for major clients [45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to changing market conditions and emphasized the importance of resource adequacy discussions with stakeholders [75][60] - The company is optimistic about the long-term demand growth and is actively pursuing opportunities to meet this demand [68][66] Other Important Information - The company has returned approximately $5.4 billion to investors through share repurchases and dividends since Q4 2021 [23] - The net debt at the end of Q3 was approximately 2.7 times ongoing operations adjusted EBITDA, expected to rise slightly above 3 times with the recent acquisition but anticipated to fall below 3 times by 2025 [25][43] Q&A Session Summary Question: Impact of Susquehanna ISA rejection on customer conversations - Management acknowledged disappointment with the ruling but emphasized ongoing discussions and multiple paths forward for co-located deals [53][54] Question: Thoughts on additionality in ERCOT - Management indicated that resource adequacy is a concern and that they are actively discussing how to add resources to meet load growth [57][60] Question: Interest in co-location at gas plants in ERCOT - Management confirmed ongoing discussions with developers about co-location deals and new generation builds [66] Question: Timing of Comanche Peak discussions - Management noted that discussions are ongoing and that the site remains attractive due to its speed-to-market advantage [70] Question: Availability of resources during peak times in ERCOT - Management confirmed that solutions are being explored to ensure generation availability during sensitive periods [72] Question: Thoughts on new build gas and coal fleet post-election - Management stated that policy predictions are challenging, but they remain flexible and open to opportunities across their diversified portfolio [74] Question: Meaningful EBITDA impact from data center deals by 2026-2027 - Management indicated that significant impacts are unlikely in the near term due to the lengthy development processes involved [97] Question: Pricing differential between nuclear and gas assets - Management refrained from sharing specific pricing differences but noted that customers consider various factors, including carbon-free attributes [99] Question: Transmission capacity around PJM assets - Management confirmed that studies have shown co-location is feasible without negative impacts on the grid, emphasizing the speed-to-market advantage [103]

Key TakeawaysVistra shares are higher after the its third-quarter results comfortably topped expectations. The electricity provider has been the best-performing stock in the S&P 500 this year. Vistra has seen enthusiasm about using nuclear capacity to power energy-intensive AI processes. Vistra Corp (VST) shares climbed after the company posted third-quarter earnings that smashed expectations after the market closed Wednesday.  The Texas-based electricity provider reported revenue of $6.29 billion, up 54% ...

Exhibit 99.1 Vistra – Press Release Nov. 7, 2024, Page 1 NEWS RELEASE Vistra Reports Third Quarter 2024 Results, Raises and Narrows 2024 Guidance, and Initiates 2025 Guidance Earnings Release Highlights • GAAP third quarter 2024 Net Income of $1,837 million and Cash Flow from Operations of $1,702 million. • Net Income from Ongoing Operations 1 of $1,855 million and Ongoing Operations Adjusted EBITDA1 of $1,444 million. • Raised and narrowed 2024 Ongoing Operations Adjusted EBITDA1 and Ongoing Operations Adj ...

Earnings Performance - Vistra Corp (VST) is expected to report a 21.4% increase in third-quarter 2024 revenues to $4.96 billion, but a 0.8% year-over-year decline in earnings per share to $1.24 [2] - The Zacks Consensus Estimate for VST's third-quarter earnings has been revised downward by 31.9% over the past 60 days [2] - VST has consistently missed earnings expectations in the last four quarters, with an average negative surprise of 83.33% [4][5] Financial Metrics and Valuation - VST's total debt to capital ratio stands at 68.5%, significantly higher than the industry average of 60.05% [9] - The company is trading at a forward 12-month P/E multiple of 21.11X, compared to the industry average of 15.95X [14] - VST shares have declined 7.1% in the last month, underperforming the industry's 0.1% decline [12] Operational Factors - VST's operating costs and SG&A expenses increased by 30% and 21.6%, respectively, in the first six months of 2024, potentially impacting third-quarter earnings [8] - The company is benefiting from increasing demand for clean electricity, particularly from U.S. data centers and Permian electrification [10] - VST's share repurchase program, aiming to buy back $2.25 billion worth of shares between 2024 and 2025, is expected to positively impact earnings per share [11] Strategic Initiatives - VST is expanding its generation capabilities through organic growth and acquisitions, including the Energy Harbor Corporation deal, which is expected to generate $150 million in annual synergies by 2026 [16] - The company is increasing its clean energy generation capacity to meet rising demand in its service area [18]

A nuclear power company has outperformed every stock in the S&P 500 so far this year. For the last two years, artificial intelligence (AI) has proven to be a generational influence for the stock market. It seems that every other week the S&P 500 or Nasdaq Composite are setting record highs -- and excitement around AI has a lot to do with that. Naturally, large technology companies have been at the center of the AI storyline. Known as the "Magnificent Seven," Microsoft, Nvidia, Apple, Tesla, Meta Platforms, ...