Vistra Corp. · VST · Next earnings

Vistra Corp. reports Thursday, Nov 5, 2026

VST reports before market open with consensus EPS at $2.88 and revenue at $7.15B. Last quarter: Vistra Q1 2026: Record $1.49B EBITDA Beat, Cogentrix Acquisition Pending

Reports Before market open46 days awayDate estimated Utilities

What the street expects

Consensus for the coming report
Consensus EPS $2.88 Calendar consensus
Consensus revenue $7.15B Calendar consensus
Report date Nov 5, 2026 Thursday, date estimated
Session Before market open 46 days away

Where VST left off: FY2026 Q1

Full report

Vistra Q1 2026: Record $1.49B EBITDA Beat, Cogentrix Acquisition Pending

EPS surprise +117.4% Reported $2.87 vs $1.32
Revenue surprise +8.1% Reported $5.64B vs $5.22B
Stock move -2.7% Event window
Subsequent drift -3.4% Up to 20 sessions

Guidance for 2026 and 2027 was reaffirmed. Management explicitly stated that current outlook excludes the pending Cogentrix acquisition (5,500 MW natural gas portfolio, expected to close in H2 2026) and new Meta PPAs. Guidance will be updated upon Cogentrix close. Capex outlook remains increasing, consistent with the prior quarter. The prior quarter noted a free cash flow per share target of $22-$25 by 2030 if excess cash is allocated to share repurchases.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Volatile weather patterns affecting generation availability and performance.
  • Regulatory uncertainty around FERC colocation rules, PJM Renewable Backstop Procurement, and ERCOT batch process.
  • Potential delays in interconnection queues for new load connections.
  • Battery storage economics and market returns relative to dispatchable resources.
  • Execution and integration risk on the Cogentrix acquisition.

Questions analysts left open

  • Impact of FERC PJM colocation order on future PPA structures and economics.
  • ERCOT batch 0 load forecasts and classification of non-firm versus CLR capacity.
  • Bridge power options and technology choices including gas and aero-derivatives.
  • Capacity hedging strategies in MISO and PJM markets.
  • Battery storage valuation and IRR compared to dispatchable resources.

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Recent VST quarters

All VST earnings
-2.7%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.