Welcome to our dedicated page for Vistra news (Ticker: VST), a resource for investors and traders seeking the latest updates and insights on Vistra stock.
Vistra Corp. (NYSE: VST) is a leading integrated retail electricity and power generation company based in Irving, Texas. With operations spanning 20 states and the District of Columbia, Vistra is committed to providing reliable and affordable energy solutions to approximately 5 million customers, including nearly a third of all Texas electricity consumers.
Vistra's diverse generation portfolio is robust, including nearly 41 gigawatts of nuclear, coal, natural gas, and solar power, supported by one of the largest utility-scale battery projects in the world. The company's power generation assets in Texas alone comprise about 18,000 MW, with a mix of nuclear, coal, and natural gas facilities, as well as significant renewable energy purchases from wind and solar sources.
Recent significant developments include the acquisition of Energy Harbor, which was finalized in March 2024 after receiving the last regulatory approval from the Federal Energy Regulatory Commission (FERC). This acquisition expanded Vistra's zero-carbon generation portfolio by adding over 4,000 MW of nuclear power and approximately 1 million additional retail customers.
Financially, Vistra demonstrates strong performance and stability, with positive cash flows and strategic growth initiatives. The company reported a net income of $1,492 million for the full year 2023, significantly improving over the previous year. Vistra's hedging strategies and comprehensive approach to risk management underscore its ability to navigate market uncertainties and deliver consistent financial results.
Vistra is also at the forefront of energy transformation, with ongoing investments in solar and battery storage projects. In 2024, Vistra announced plans to add up to 2,000 MW of natural gas power capacity in Texas, aimed at bolstering grid reliability amidst increasing power demand driven by economic growth and electrification in various sectors.
The company’s retail arm, TXU Energy, is the #1 electricity choice in Texas, providing innovative plans like TXU Energy Free EV Miles℠, supporting the transition to electric vehicles by offering free home EV charging backed by 100% renewable sources.
Vistra's commitment to operational excellence, customer-centric solutions, and sustainable energy practices makes it a pivotal player in the US energy sector. With a vision for future growth and a strong foundation built on over a century of expertise, Vistra continues to drive forward the energy landscape.
Vistra (NYSE: VST) announces the transition of Curt Morgan from CEO to a new leadership role effective August 1, 2022. Jim Burke, the current president and CFO, will take over as CEO, following a formal succession planning process. Morgan, who has led the company since 2016, highlighted significant transformations during his tenure, including a transition towards renewable energy. The company plans to announce Burke's successor as CFO before his new role begins. This leadership change aims to ensure continued strategic direction and value for its stakeholders.
Vistra reported a 2021 net loss of $(1,264) million, significantly impacted by the Winter Storm Uri. Despite this, the company's Ongoing Operations Adjusted EBITDA was $1,941 million, slightly above guidance. Operating cash flow was $(206) million, while Adjusted Free Cash Flow before growth stood at $179 million. Vistra reaffirmed its 2022 EBITDA guidance of $2,810 to $3,310 million and Free Cash Flow guidance of $2,070 to $2,570 million. The firm also executed $764 million in share repurchases under a $2 billion program and introduced a dividend program starting Q1 2022, reflecting a 13% increase.
Vistra (NYSE: VST) has declared a quarterly dividend of $0.17 per share, totaling $75 million for Q1 2022, a 13% increase from the previous year. This dividend is payable on March 31, 2022, with a record date of March 22, 2022, and an ex-dividend date of March 21, 2022. The CEO noted an annual allocation of $300 million for dividends, enhancing shareholder returns. Additionally, a semi-annual dividend of $40.00 per share for Series A preferred stock will be paid on April 15, 2022.
Texas Brine Company and Pure Salt Baytown, leaders in brine production, signed a renewable energy contract with TXU Energy to power their Gulf Coast facilities using 100% renewable resources. This agreement will supply approximately 60 million kilowatt hours of clean energy, reducing CO2 emissions by 26,000 metric tons, equivalent to the annual consumption of 4,670 homes. The move aligns with their commitment to sustainability and the Responsible Care© initiative.
Priority Power has facilitated a 100% renewable energy contract between United Salt and TXU Energy to power United Salt's Hockley, TX facility and Houston headquarters. This agreement will provide approximately 25 million kilowatt hours of renewable energy over the contract's duration, reducing carbon emissions by about 10,000 metric tons—equivalent to the annual electricity consumption of 1,900 homes. United Salt aims to enhance its sustainability initiatives, with executives highlighting the deal's significance for both environmental impact and business growth.
The Retail Energy Advancement League (REAL) has appointed Christopher Ercoli as President and CEO to spearhead advocacy for modernizing retail energy markets. Ercoli's prior experience includes leading policy initiatives at Brookfield Renewable and working with Tesla on energy markets. The organization aims to provide consumers with energy choice, reducing reliance on monopoly suppliers, and promoting clean energy goals. REAL's founding members include NRG Energy and Vistra. This coalition seeks to empower consumers in their energy decisions.
Vistra (NYSE: VST) will announce its fourth quarter and full year 2021 financial results on February 25, 2022. This will take place during a live conference call starting at 8 a.m. ET. Interested parties can access the live webcast through the investor relations section of Vistra's website at www.vistracorp.com. A replay will be available for one year after the call for those unable to participate.
Vistra (NYSE: VST) plans to expand its Moss Landing Energy Storage Facility in California with a new 350 MW/1,400 MWh battery system, adding to the existing 400 MW/1,600 MWh capacity. The expansion is supported by a 15-year agreement with PG&E, pending CPUC approval. This will boost total capacity at Moss Landing to 750 MW/3,000 MWh, making it the largest of its kind globally. Construction is set to begin in May 2022, with commercial operations expected by June 2023. Vistra aims to grow its zero-carbon portfolio to 7,300 MW by 2026.
Vistra Corp. (NYSE: VST) announced an upsized private offering of 1,000,000 shares of its 7.0% Series B Fixed-Rate Reset Cumulative Redeemable Green Perpetual Preferred Stock, priced at $1,000 per share, aimed at qualified institutional buyers. The offering is expected to generate $1 billion in gross proceeds, set to close on Dec. 10, 2021. CEO Curt Morgan emphasized the offering supports Vistra's capital allocation plan, including a $7.5 billion return of capital and $3 billion debt reduction. Proceeds will also fund Vistra's green energy initiatives, aiming for 7,300 MW of solar generation by 2026.
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