Summary by Moomoo AI
Vistra Corp. delivered robust Q2 2024 results with Net Income of $467 million and Ongoing Operations Adjusted EBITDA of $1.414 billion, up $406 million YoY. The improvement was driven by Energy Harbor acquisition integration, successful fleet optimization, and strong retail performance in Texas. The company reaffirmed its 2024 Adjusted EBITDA guidance of $4.8 billion midpoint.The company announced significant strategic developments, including two major renewable power purchase agreements - a 200 MW deal with Amazon in Texas and a 405 MW agreement with Microsoft in Illinois. Additionally, Vistra received NRC approval to extend Comanche Peak nuclear plant's operating licenses by 20 years through 2050/2053, and plans to add up to 2,000 MW of gas-fueled capacity in Texas.Looking ahead, Vistra raised its 2025 Ongoing Operations Adjusted EBITDA midpoint opportunity by $200 million to $5.2-5.7 billion, supported by strong hedge positions and recent PJM capacity auction results. The company maintains its 2026 midpoint opportunity above $6 billion and plans to spend at least $2.25 billion on share repurchases through 2025.
