Vistra Q1 net income rises to $1,029 million; 2026 guidance reaffirmed
Vistra reported first-quarter 2026 GAAP net income of $1,029 million, compared with a net loss of $268 million a year earlier, and Ongoing Operations Adjusted EBITDA of $1,494 million, up from $1,240 million. The net income figure includes a $723 million unrealized gain from hedges expected to settle in future years, while Retail Adjusted EBITDA fell to $68 million from $184 million amid mild weather. The company reaffirmed its 2026 Adjusted EBITDA and Adjusted FCFbG guidance ranges, so shareholders see no change to full-year targets.
Key points
- GAAP net income of $1,029 million in Q1 2026, versus a net loss of $268 million in Q1 2025; includes a $723 million unrealized hedge gain
- Ongoing Operations Adjusted EBITDA of $1,494 million, up $254 million year over year; Texas $586 million, East $801 million, Retail $68 million
- 2026 guidance reaffirmed: Adjusted EBITDA of $6.8 billion to $7.6 billion and Adjusted FCFbG of $3.925 billion to $4.725 billion, excluding the pending Cogentrix acquisition and Meta agreements
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:30 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.