Vistra Corp Stock Price, News & Analysis

Nuvve (Nasdaq: NVVE) has partnered with Vistra (NYSE: VST) to assist U.S. school districts in electrifying their bus fleets. The collaboration aids districts in accessing over $4.5M in grant funding to replace older diesel buses with electric ones. This initiative not only reduces greenhouse gas emissions but also leverages Nuvve's vehicle-to-grid (V2G) technology for energy management. This innovative approach allows schools to potentially earn revenue by returning energy to the grid, while benefiting from reduced maintenance costs and enhanced fleet management.

Vistra reported a second-quarter 2022 net loss of $(1,357) million, driven by non-cash, unrealized hedging losses of $(1,987) million due to increased forward power prices. Despite this, Ongoing Operations Adjusted EBITDA reached $761 million, and the company is on track to meet its full-year guidance for Adjusted EBITDA and Free Cash Flow. Vistra executed $1.6 billion of its $2 billion share repurchase program and announced an additional $1.25 billion in buybacks. The company also increased its dividend by 23% and achieved significant residential customer growth for TXU Energy.

Vistra has declared a third quarter dividend of $0.184 per share, totaling approximately $75 million for this quarter. The cumulative dividend for 2022 reaches $225 million, marking a 23% rise from Q3 2021. The common dividend is payable on Sept. 30, 2022, with an ex-dividend date of Sept. 20, 2022. Additionally, a semi-annual dividend of $40.00 per share for the Series A Preferred Stock will be paid on Oct. 17, 2022. This reflects strong shareholder returns amid Vistra’s robust operational strategy.

Vistra has appointed Kris Moldovan as its new chief financial officer effective August 1, 2022. He succeeds Jim Burke, who will become the company's chief executive officer on the same date. Moldovan, a company veteran since 2006, has played a critical role in finance and capital allocation. His appointment reflects a strategy to enhance leadership as the company approaches its clean energy transformation. Moldovan holds degrees in engineering, law, and finance, showcasing a strong background to lead the financial operations of Vistra.

Vistra (NYSE: VST) plans to release its second quarter 2022 financial results on August 5, 2022, with a live conference call at 8 a.m. ET. Investors can listen to the webcast via the company's website or by phone after registering here. A replay will be available on the site for one year. Vistra is a major provider of electricity and natural gas, serving 4.3 million customers across 20 states and the District of Columbia.

Vistra (NYSE: VST) announced its results from the PJM capacity auction for 2023/2024, clearing 6,868 megawatts (MW) at a weighted average clearing price of $37.20 per megawatt-day, generating approximately $94 million in revenue. Including additional revenue from retail sales, total estimated revenues are projected to be $164-169 million. The auction results demonstrate Vistra's strong market position, with significant cleared capacity across various zones, reinforcing its role as a major player in the U.S. energy market.

Vistra (NYSE: VST) announced that its Emerald Grove Solar Facility in Crane County, Texas, is now online and operational, contributing to its zero-carbon power generation portfolio. This 108-megawatt solar project is part of a $1 billion investment to enhance renewable energy in Texas. The facility can power approximately 54,000 homes, supporting demand during the upcoming summer. With this addition, Vistra's renewable capacity approaches 3,300 MW, with plans to reach more than 7,300 MW by 2026.

TXU Energy, a subsidiary of Vistra (NYSE: VST), announced a $250,000 donation to support the community of Uvalde following the tragic Robb Elementary School shooting. This aid is aimed at assisting victims' families and funding essential services. The donation includes $100,000 to the Community Foundation of the Texas Hill Country, $100,000 to the United Way of San Antonio and Bexar County for mental health resources, and $50,000 to Uvalde Memorial Hospital. TXU Energy expresses deep sympathy and commitment to community support during this crisis.