Vistra jumps after Q1 2026 results, reaffirms full-year 2026 guidance
Vistra reported first-quarter 2026 results today, posting GAAP net income of $1.029 billion and ongoing operations adjusted EBITDA of $1.494 billion. The company reaffirmed 2026 adjusted EBITDA guidance of $6.8–$7.6 billion and adjusted free cash flow before growth guidance of $3.925–$4.725 billion.
1) What happened today (May 7, 2026)
Vistra released its first-quarter 2026 earnings report today, disclosing GAAP net income of $1.029 billion (including a large unrealized gain from hedges expected to settle in future years) and ongoing operations adjusted EBITDA of $1.494 billion. The update also highlighted that Vistra reaffirmed its full-year 2026 guidance ranges for ongoing operations adjusted EBITDA and ongoing operations adjusted free cash flow before growth.
2) Key numbers investors focused on
The company reaffirmed 2026 guidance ranges of $6.8–$7.6 billion for ongoing operations adjusted EBITDA and $3.925–$4.725 billion for ongoing operations adjusted free cash flow before growth. It also disclosed hedging levels as of May 1, 2026: about 98% of expected generation volumes for 2026, about 89% for 2027, and about 65% for 2028.
3) Other notable same-day catalyst details
The release noted Vistra’s corporate issuer credit rating was upgraded to investment grade at a second major credit rating agency. Vistra also reiterated progress on capital allocation, including cumulative share repurchases since 2021 and remaining authorization.