Vistra Third-Quarter Earnings and Revenues Surpass Estimates

Vistra VST reported third-quarter 2024 earnings of $5.25 per share, which beat the Zacks Consensus Estimate of $1.24 by 323.4%. The bottom line also increased 320% from the year-ago quarter’s figure of $1.25.

Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.

Total Revenues of VST

Sales for the quarter totaled $6.29 billion, which surpassed the Zacks Consensus Estimate of $4.96 billion by 26.7%. The top line also increased 53.8% from $4.09 billion recorded in the year-ago quarter.

VST’s Operational Highlights

Fuel, purchased power costs and delivery fees amounted to $2.2 billion, up 4.6% from the year-ago quarter’s $2.1 billion.

Operating costs for the quarter totaled $616 million, up 49.9% from the year-ago quarter’s $411 million.

Selling, general and administrative expenses amounted to $411 million, up 15.1% from the year-ago quarter’s $357 million.

Operating income totaled $2.59 billion compared with $0.83 billion in the year-ago quarter.

Interest expenses and related charges amounted to $332 million compared with $143 million in the prior-year period.

As of Nov. 4, 2024, Vistra executed $4.58 billion in share repurchases since November 2021. The company’s board of directors authorized an additional $1 billion of share repurchases, which is expected to be utilized by the end of 2026.

VST’s Financial Highlights

Cash and cash equivalents totaled $0.94 billion as of Sept. 30, 2024, compared with $3.2 billion as of Sept. 30, 2023.

Net cash flow provided by operating activities in the first nine months of 2024 totaled $3.2 billion compared with $4.6 billion a year ago.

Total capital expenditures for the first nine months of 2024 totaled $1.6 billion compared with $1.3 billion recorded a year ago.

VST’s Guidance

The company lowered its guidance for 2024 ongoing operations adjusted EBITDA and ongoing operations adjusted Free Cash Flow Before Growth (FCFbG) to $5.0-$5.2 billion and $2.65-$2.85 billion, respectively, excluding any potential benefit from the nuclear production tax credit.

It expects 2025 ongoing operations adjusted EBITDA and ongoing operations adjusted FCFbG to be in the band of $5.5-$6.1 billion and $3.0-$3.6 billion, respectively.

VST’s Zacks Rank

The company currently has a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Releases

NextEra Energy, Inc.’s NEE reported third-quarter 2024 adjusted earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 98 cents by 5.1%.

The company’s long-term (three to five years) earnings growth rate is 8.12%. The Zacks Consensus Estimate for 2024 earnings is pegged at $3.41 per share, which implies a year-over-year improvement of 7.6%.

Avangrid, Inc. AGR reported third-quarter 2024 earnings of 55 cents per share, which surpassed the Zacks Consensus Estimate of 33 cents by 66.7%.

AGR’s long-term earnings growth rate is 6%. The Zacks Consensus Estimate for 2024 earnings is pegged at $2.34 per share, which calls for a year-over-year improvement of 12%.

Pinnacle West Capital Corporation PNW reported third-quarter 2024 earnings of $3.37 per share, which beat the Zacks Consensus Estimate of $3.35 by 0.6%.

PNW’s long-term earnings growth rate is 8.22%. The company delivered an average earnings surprise of 246.2% in the trailing four quarters.

 

Free: 5 Stocks to Buy As Infrastructure Spending Soars

Trillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.

In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research