Vistra reported a net loss of $(268) million for Q1 2025, a net loss from ongoing operations of $(200) million, and ongoing operations adjusted EBITDA of $1,240 million. For Q1 2024, net income was $18 million and ongoing operations adjusted EBITDA was $810 million.

1. 01

   Vistra reported a net loss of $(268) million for Q1 2025, a net loss from ongoing operations of $(200) million, and ongoing operations adjusted EBITDA of $1,240 million. For Q1 2024, net income was $18 million and ongoing operations adjusted EBITDA was $810 million.

2. 02

   Vistra said net loss for Q1 2025 increased by $286 million compared to the prior-year quarter, citing unrealized mark-to-market losses on derivative positions as energy prices increased in the forward periods as the primary factor. Ongoing operations adjusted EBITDA increased by $430 million, driven by retail performance, higher wholesale prices, and the inclusion of two additional months of Energy Harbor results, the company said.

3. 03

   Vistra reaffirmed its 2025 ongoing operations adjusted EBITDA guidance range of $5.5 billion to $6.1 billion and its ongoing operations adjusted FCFbG guidance range of $3.0 billion to $3.6 billion. As of May 2, 2025, the company had hedged approximately 100% of its expected generation volumes for 2025 and approximately 90% for 2026.

4. 04

   Vistra reported that cash provided by operating activities for Q1 2025 was $599 million and share repurchase expenditures were $337 million. Since November 2021, the company executed approximately $5.2 billion in share repurchases, and as of May 2, 2025, approximately $1.5 billion remained available under its share repurchase authorization.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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