Vistra reports Q2 revenue $3.85B vs. $3.19B last year

“The Vistra team continued to execute throughout the second quarter, and we are pleased to report strong results despite continued mild summer weather in Texas and lower wholesale prices across competitive markets. This stability showcases our team’s ability to perform in a variety of market conditions,” said Jim Burke, president and chief executive officer of Vistra. “Based on our performance year-to-date and the projections we see for the balance of the year, we’re confident that we will achieve Ongoing Operations Adjusted EBITDA results toward the upper end of our guidance range for 2024. Additionally, given our strong hedge profile and the recent PJM capacity auction results, we are increasing the range of our midpoint opportunity for 2025 Ongoing Operations Adjusted EBITDA by $200 million to $5,200 million to $5,700 million. We believe the strength of our business model, through the combination of a best-in-class retail business with a large, diversified generation fleet, enables durable results for years to come.” Burke continued, “While the team continues to deliver consistent operating and financial results, we also remain focused on executing our long-term growth initiatives. We’ve started construction on two new solar facilities, a 200 MW site backed by Amazon in Texas and a 405 MW site backed by Microsoft in Illinois. In addition, assuming successful implementation of market reforms, proper market signals, and other factors, we are planning to develop up to 2,000 MW of gas-fueled electric capacity in our home state to enhance grid reliability for customers.”