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Vistra Third-Quarter Earnings and Revenues Surpass Estimates
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Vistra (VST - Free Report) 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.
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).
NextEra Energy, Inc.’s (NEE - Free Report) 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 - Free Report) 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 - Free Report) 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.
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Vistra Third-Quarter Earnings and Revenues Surpass Estimates
Vistra (VST - Free Report) 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.
Vistra Corp. Price, Consensus and EPS Surprise
Vistra Corp. price-consensus-eps-surprise-chart | Vistra Corp. Quote
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 - Free Report) 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 - Free Report) 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 - Free Report) 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.