Summary by Moomoo AI
Vistra delivered strong Q3 2024 results with Net Income of $1.84 billion and Ongoing Operations Adjusted EBITDA of $1.44 billion, despite milder Texas weather compared to 2023. The company raised and narrowed its 2024 guidance, projecting Adjusted EBITDA of $5.0-5.2 billion and Adjusted Free Cash Flow before Growth of $2.65-2.85 billion.The company announced plans to acquire the remaining 15% minority interest in Vistra Vision for $3.1 billion, which will increase its ownership of zero-carbon nuclear, energy storage and solar assets. Additionally, Vistra secured two major power purchase agreements totaling over 600 MW with Amazon and Microsoft, while receiving NRC approval to extend Comanche Peak's operating licenses through 2050/2053.Looking ahead, Vistra initiated 2025 guidance with projected Adjusted EBITDA of $5.5-6.1 billion and Adjusted FCFbG of $3.0-3.6 billion. The company's Board authorized an additional $1.0 billion share repurchase program expected to be completed by 2026, building on the $4.58 billion in repurchases executed since November 2021.
