VST · 8-K · 20260807PR000017
Revenue Performance and Mix
Vistra Corp. · 2026-08-07 · Importance 58 · Surprise 56 · No source text
Second-quarter operating revenues decreased to $4,017 million from $4,250 million, a $233 million or 5.5% year-over-year decline. Six-month operating revenues increased to $9,657 million from $8,183 million, up $1,474 million or 18.0%. Second-quarter Ongoing Operations Adjusted EBITDA rose $418 million, or more than 30%, to $1,767 million, driven primarily by higher realized energy and capacity prices and three months of contributions from plants acquired from Lotus. Segment Adjusted EBITDA increased in Texas to $311 million from $142 million, East to $642 million from $418 million, and West to $68 million from $49 million, while Retail increased to $773 million from $756 million.
Key facts
- Ongoing Operations Adjusted EBITDA increased by more than 30% year-over-year for the quarter. source
- Ongoing Operations Adjusted EBITDA for Q2 2026 increased by $418 million compared to Q2 2025, driven primarily by higher realized energy and capacity prices and three months' contribution from the plants acquired from Lotus. source
- Ongoing Operations Adjusted EBITDA for Q2 2026: $1,767 million. source
- Ongoing operations Adjusted EBITDA for the six months ended June 30, 2026: $3,261 million. source
- Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68 million, Corporate and Other $(27) million, Asset Closure $(23) million. source
- Operating revenues for the three months ended June 30, 2026: $4,017 million. source
- For the three months ended June 30, 2026, EBITDA before Adjustments by segment included: Retail $504 million, Texas $795 million, East $112 million, West $38 million, Eliminations/Corp and Other $(38) million, Ongoing Operations Consolidated $1,411 million. source
- For the six months ended June 30, 2026, adjusted EBITDA by segment: Retail $841 million, Texas $897 million, East $1,443 million, West $124 million, Eliminations/Corp and Other $(44) million, Ongoing Operations Consolidated $3,261 million, Asset Closure $(42) million, Vistra Corp. Consolidated $3,219 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +80.1% | For the six months ended June 30, 2026, adjusted EBITDA by segment: Retail $841 million, Texas $897 million, East $1,443 million, West… |
| operating_income | positive | realized | +35.1% | For the three months ended June 30, 2026, EBITDA before Adjustments by segment included: Retail $504 million, Texas $795 million, East… |
| operating_income | positive | realized | +19.2% | Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68… |
| operating_income | positive | realized | +16.0% | Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68… |
| operating_income | positive | realized | +10.4% | Ongoing Operations Adjusted EBITDA for Q2 2026 increased by $418 million compared to Q2 2025, driven primarily by higher realized energy… |
| operating_income | positive | realized | +7.7% | Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68… |
| operating_income | positive | realized | +1.7% | Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68… |
| operating_income | negative | realized | -0.7% | Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68… |
| operating_income | negative | realized | -0.6% | Adjusted EBITDA by segment for the quarter ended June 30, 2026: Retail $773 million, Texas $311 million, East $642 million, West $68… |
| revenue | unclear | realized | — | Operating revenues for the three months ended June 30, 2026: $4,017 million. |