Vistra Corp. posted a 50% surge in Q3 EBITDA to $2.38 billion, fueled by record summer energy demand, and issued a bullish 2027 outlook as it integrates its newly acquired Cogentrix generation assets.
Q3 2026 net income of $1,140 million rose $488 million year over year and Ongoing Operations Adjusted EBITDA of $2,378 million was up $797 million (+50%), driven by record summer demand in ERCOT and PJM and higher energy and capacity prices. The company also initiated 2027 guidance of $7,700-$8,500 million EBITDA above its narrowed 2026 range of $7,100-$7,500 million, signaling growth. Offsetting positives, liquidity fell from roughly $8,923 million to about $5.4 billion pro forma after Cogentrix payments and a $1 billion preferred redemption.
Net income was $1,140 million, up $488 million from Q3 2025, and Ongoing Operations Adjusted EBITDA was $2,378 million, more than 50% higher than the $1,581 million a year earlier.
It narrowed its 2026 Ongoing Operations Adjusted EBITDA guidance to $7,100-$7,500 million and initiated 2027 guidance of $7,700-$8,500 million, with 2027 Adjusted FCFbG of $4,300-$5,100 million.
Vistra Corp. reported a strong third quarter for 2026, with Ongoing Operations Adjusted EBITDA rising over 50% year-over-year to $2.38 billion. The company benefited from record summer peak demand in ERCOT and PJM markets, alongside the successful integration of its Cogentrix acquisition. While liquidity tightened to $5.4 billion following strategic capital deployments, management initiated an optimistic 2027 EBITDA guidance range of $7.7 billion to $8.5 billion.
Vistra reported net income of $1,140 million, up $488 million from the prior year, with Ongoing Operations Adjusted EBITDA rising more than 50% to $2,378 million.
The company initiated 2027 guidance for Ongoing Operations Adjusted EBITDA between $7,700 million and $8,500 million, with Adjusted FCFbG expected between $4,300 million and $5,100 million.