Vistra Corp. earnings overview

VST FY2026 Q1 · Calendar Q2 2026

Vistra Corp.

Vistra delivered record calendar-Q1 adjusted EBITDA of $1.494 billion, up roughly 20% year-over-year, with EPS of $2.87 versus $1.32 estimated (a 117% surprise) and revenue of $5.64 billion versus $5.22 billion expected. Management attributed the performance to strong generation and diversified retail operations despite mild weather and a winter storm. Both 2026 and 2027 guidance were reaffirmed, with the outlook explicitly excluding the pending 5,500 MW Cogentrix acquisition and new Meta PPAs, making current guidance a conservative baseline. Despite the beat, the stock declined 2.4% on the report day (versus a 0.3% benchmark move) on roughly 2x normal volume, with a further 3.4% drift in subsequent sessions. At $142.81, shares trade well below the $221.78 consensus target. The divergence between reported fundamentals and market pricing warrants attention as Cogentrix closes and Meta…