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 reported a second-quarter 2022 net loss of $(1,357) million, driven by non-cash, unrealized hedging losses of $(1,987) million due to increased forward power prices. Despite this, Ongoing Operations Adjusted EBITDA reached $761 million, and the company is on track to meet its full-year guidance for Adjusted EBITDA and Free Cash Flow. Vistra executed $1.6 billion of its $2 billion share repurchase program and announced an additional $1.25 billion in buybacks. The company also increased its dividend by 23% and achieved significant residential customer growth for TXU Energy.
Vistra has declared a third quarter dividend of $0.184 per share, totaling approximately $75 million for this quarter. The cumulative dividend for 2022 reaches $225 million, marking a 23% rise from Q3 2021. The common dividend is payable on Sept. 30, 2022, with an ex-dividend date of Sept. 20, 2022. Additionally, a semi-annual dividend of $40.00 per share for the Series A Preferred Stock will be paid on Oct. 17, 2022. This reflects strong shareholder returns amid Vistra’s robust operational strategy.
Vistra has appointed Kris Moldovan as its new chief financial officer effective August 1, 2022. He succeeds Jim Burke, who will become the company's chief executive officer on the same date. Moldovan, a company veteran since 2006, has played a critical role in finance and capital allocation. His appointment reflects a strategy to enhance leadership as the company approaches its clean energy transformation. Moldovan holds degrees in engineering, law, and finance, showcasing a strong background to lead the financial operations of Vistra.
Vistra (NYSE: VST) plans to release its second quarter 2022 financial results on August 5, 2022, with a live conference call at 8 a.m. ET. Investors can listen to the webcast via the company's website or by phone after registering here. A replay will be available on the site for one year. Vistra is a major provider of electricity and natural gas, serving 4.3 million customers across 20 states and the District of Columbia.
Vistra (NYSE: VST) announced its results from the PJM capacity auction for 2023/2024, clearing 6,868 megawatts (MW) at a weighted average clearing price of $37.20 per megawatt-day, generating approximately $94 million in revenue. Including additional revenue from retail sales, total estimated revenues are projected to be $164-169 million. The auction results demonstrate Vistra's strong market position, with significant cleared capacity across various zones, reinforcing its role as a major player in the U.S. energy market.
Vistra (NYSE: VST) announced that its Emerald Grove Solar Facility in Crane County, Texas, is now online and operational, contributing to its zero-carbon power generation portfolio. This 108-megawatt solar project is part of a $1 billion investment to enhance renewable energy in Texas. The facility can power approximately 54,000 homes, supporting demand during the upcoming summer. With this addition, Vistra's renewable capacity approaches 3,300 MW, with plans to reach more than 7,300 MW by 2026.
TXU Energy, a subsidiary of Vistra (NYSE: VST), announced a $250,000 donation to support the community of Uvalde following the tragic Robb Elementary School shooting. This aid is aimed at assisting victims' families and funding essential services. The donation includes $100,000 to the Community Foundation of the Texas Hill Country, $100,000 to the United Way of San Antonio and Bexar County for mental health resources, and $50,000 to Uvalde Memorial Hospital. TXU Energy expresses deep sympathy and commitment to community support during this crisis.
TXU Energy launched its 24th annual Beat the Heat program to support vulnerable Texans amid extreme summer heat. The initiative includes providing $100,000 in donations for new air conditioning units and fans, alongside energy conservation tips and financial assistance information. Key donations include $25,000 to The Senior Source for air conditioning units in Dallas and $10,000 to BakerRipley for fans in Houston. The program collaborates with social service agencies and promotes available bill-payment assistance options for customers.
Vistra has launched the DeCordova Energy Storage Facility in Granbury, Texas, boasting a capacity of 260 megawatts, marking it as the state's largest battery energy storage project. This facility is part of Vistra's commitment to zero-carbon generation, contributing to a $1 billion investment in clean energy in Texas. It can store enough electricity to power approximately 130,000 homes and provides dispatchable, emission-free power to the ERCOT grid. The project also enhances reliability by integrating with an existing natural gas plant, ensuring continuous operation.
SEKISUI Specialty Chemicals announced a 5-year renewable energy agreement with TXU Energy to source power from the Indian Mesa wind farm in Texas, starting April 2022. The wind farm has a capacity of 92 MWs, generating approximately 210,000 MWhs annually for the Texas grid. This initiative aligns with SEKISUI's Vision 2030, committing to 100% renewable energy to enhance sustainability efforts and reduce its carbon footprint. This partnership supports SEKISUI's ESG goals and contributes to the United Nation's Sustainable Development Goals.
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