VST · Full Picture

Vistra Corp. — the full picture

Trailing window · 2026-05-11 to 2026-08-09

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Revenue Performance and Mix · Revenue growth & mixPriority 73
    +169.1% operating_income (realized); 2 sources (news, press_release); quote_verified
    Ongoing Operations Adjusted EBITDA increased by more than 30% year-over-year for the quarter.
  2. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 69
    2 sources (news, press_release); 2 forward row(s); quote_verified
    Vistra announced Helix Digital Infrastructure alongside KKR, KIA, and NVIDIA with an initial commitment from Vistra of up to $1.0 billion.
  3. Guidance / Outlook · Guidance & outlookPriority 69
    2 sources (news, press_release); 6 forward row(s); quote_verified
    Despite the revenue miss, Vistra saw a 31% increase in Ongoing Operations Adjusted EBITDA to $1.77 billion and reaffirmed its full-year 2026 guidance.
  4. Net Income and Profitability · Operating income & profitabilityPriority 66
    +44.0% operating_income (realized); quote_verified
    For the quarter ended June 30, 2026, Vistra reported Net Income of $305 million and Ongoing Operations Adjusted EBITDA of $1,767 million.
  5. Operating Expense Trends · Operating expenses (SG&A)Priority 66
    -86.2% operating_income (realized); quote_verified
    Fuel, purchased power costs, and delivery fees for the three months ended June 30, 2026: $(1,774) million.
  6. Capital Return Program · Buybacks & dividendsPriority 64
    2 sources (news, press_release); 2 forward row(s); quote_verified
    Approximately $1.2 billion of the share repurchase authorization remained available as of Aug. 3, 2026, which Vistra expects to complete no later than year-end 2027.
  7. Operating Income and Margins · Operating income & profitabilityPriority 63
    -11.8% operating_income (realized); quote_verified
    For the three months ended June 30, 2026, unrealized net (gain) loss resulting from commodity hedging transactions totaled $472 million consolidated.
  8. Capital Expenditures · Capital expenditurePriority 61
    1 forward row(s); quote_verified
    2026 guidance projects capital expenditures including nuclear fuel purchases and LTSA prepayments of $(1,536) million.
  9. Operating Cash Flow Trends · Cash flow generationPriority 59
    1 forward row(s); quote_verified
    2026 guidance forecasts cash provided by operating activities for Ongoing Operations of $5,998 million to $6,798 million.
  10. Data Center / Load Growth · Demand, orders & backlogPriority 57
    2 sources (news, press_release); quote_verified
    SpaceX plans to secure up to 20 gigawatts of power capacity for its AI-focused operations.
  11. Liquidity and Cash Position · Liquidity & cash positionPriority 53
    quote_verified
    Issuances of debt for the six months ended June 30, 2026: $6,422 million.
  12. AI Infrastructure Investment · Strategic & business-model shiftsPriority 52
    qualitative only

Threads by pillar

Revenue & Demand Priority 76 · 3 threads

Costs & Margins Priority 76 · 6 threads

Capital & Balance Sheet Priority 76 · 5 threads

Strategy & Portfolio Priority 74 · 3 threads

Legal, Regulatory & Policy Priority 40 · 1 thread

Guidance & Outlook Priority 69 · 1 thread

Macro & Market Conditions Priority 24 · 1 thread

Unclassified Priority 42 · 1 thread

Expected impact by metric

metricforward netforward grossrealized
net_income——+17.7%
operating_income——+115.1%