Following an impressive Q3 performance that soared above analyst forecasts marked by a 54% YOY sales growth to $6.28 billion, Vistra Corp. (VST, Financial) dropped gains from earlier highs of almost 10% by climbing 7.8% Thursday. The corporation approved an extra $1 billion for stock repurchases and also revised its full-year profit projection. While adjusted EBITDA for current operations met forecasts at $1.44 billion, net earnings from continuing operations in Q3 jumped dramatically to $1.85 billion, up from $510 million in the same period last year.
Excluding probable gains from the nuclear production tax credit, Vistra revised its projection for fiscal year 2024 to show adjusted EBITDA of $5 billion-$5.2 billion and adjusted free cash flow of $2.65 billion-$2.85 billion. Target adjusted EBITDA for 2025 is initially projected to be $5.5 billion-$6.1 billion and free cash flow to be $3 billion-$3.6 billion. To support increasing energy demand in data center growth, Chief Strategy and Sustainability Officer Stacey Dore revealed continuous talks with significant data center developers to improve nuclear plant output and investigate new natural gas projects in Texas and the PJM grid areas, including Pennsylvania and Ohio.
