Vistra Corp. (VST) Announced Q1 2026 Earnings on May 7, 2026, Reporting $1.494 billion in adjusted EBITDA for the first quarter of 2

Vistra Corp. reported first quarter 2026 results, delivering $1.494 billion in adjusted EBITDA for the first quarter of 2026.

Generation delivered $1.426 billion of adjusted EBITDA in the quarter, while Retail delivered $68 million of adjusted EBITDA. The company deployed approximately $525 million in share repurchases during the first 4 months of the year and paid a first quarter dividend of approximately $75 million.

Management highlighted a structurally improved demand environment, noting the announced acquisition of the 5,500-megawatt Cogentrix natural gas generation portfolio.

The company also announced long-term power purchase agreements with Meta for approximately 2,600 megawatts of energy and capacity at its PJM nuclear sites.

Vistra currently has approximately 4,500 megawatts of organic development opportunities recently completed or in process across its portfolio.

The company also received an upgrade of its corporate issuer rating to investment grade from Fitch Ratings, which triggered fallaway provisions to release the liens on its assets.

Looking ahead, Vistra is reaffirming the guidance ranges for 2026 adjusted EBITDA and adjusted free cash flow before growth, and maintaining its 2027 adjusted EBITDA midpoint opportunity range.

Management noted it still has line of sight to more than $10 billion of cash generation over 2026 and 2027.

Vistra plans to allocate approximately $3 billion to equity holders and approximately $4 billion toward accretive growth investments, leaving approximately $3 billion of additional capital available to allocate through year-end 2