Vistra Corp (NYSE:VST) has reported a decrease in net income from $678 million in Q3 2022 to $502 million in Q3 2023, attributed to higher unrealized hedging losses. This was despite strong performances across the company's generation, retail, and commercial activities. The ongoing operations net income for the same period stood at $519 million, with adjusted EBITDA at $1,613 million.
The energy company experienced an unprecedented summer in Texas that led to an additional 2.5 terawatt hours of production over any quarter in the past decade, setting ten peak demand records. CEO Jim Burke underscored these achievements, which came despite the decline in net income.
Since Q4 2021, Vistra's capital allocation program has returned approximately $3.785 billion to shareholders. The company also offered its future financial outlook, projecting ongoing operations adjusted EBITDA between $3,700 million and $4,100 million for 2024.
In line with its commitment to the clean energy transition, Vistra is strategically investing in solar and battery storage developments. As of the end of Q3 2023, Vistra reported a total available liquidity of about $4,420 million.
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