Vistra reports second quarter 2026 net income of $305 million

On August 7, 2026, Vistra reported net income of $305 million for the quarter ended June 30, 2026, down $22 million from the second quarter of 2025. The company said the decline was driven primarily by a $488 million increase in unrealized mark-to-market losses on derivative positions, mostly offset by higher realized prices and capacity revenue and three months of contribution from the plants acquired from Lotus.

Ongoing Operations Adjusted EBITDA rose $418 million to $1.767 billion, driven primarily by higher realized energy and capacity prices and three months of contribution from the plants acquired from Lotus. Vistra said its GAAP net income for the quarter included an unrealized loss of $472 million on hedges that it expects to settle in future years.

Vistra reaffirmed its 2026 Ongoing Operations Adjusted EBITDA guidance range of $6.8 billion to $7.6 billion and its Ongoing Operations Adjusted FCFbG range of $3.925 billion to $4.725 billion. Vistra said these ranges exclude any benefits from the pending Cogentrix acquisition and the signed power purchase agreements with Meta, part of which it expects to contribute to Adjusted EBITDA in 2027.

Vistra announced Helix Digital Infrastructure alongside KKR, Kuwait Investment Authority and NVIDIA, with an initial commitment from Vistra of up to $1 billion. Vistra also received Federal Energy Regulatory Commission approval of the pending Cogentrix Energy acquisition.

Vistra said that as of August 3, 2026, it had hedged approximately 100% of expected generation volumes for 2026, approximately 94% for 2027 and approximately 72% for 2028. Vistra also said it expects to complete the remaining share repurchase authorization of about $1.2 billion no later than year-end 2027.