Vistra's full-year 2025 results top guidance while 2026 EBITDA forecast meets expectations amid new AI-driven nuclear deals.

Vistra reported full-year 2025 Ongoing Operations Adjusted EBITDA of $5.912 billion and Adjusted Free Cash Flow before Growth of $3.592 billion, exceeding the midpoint of its original guidance. The company introduced its 2026 outlook, forecasting Ongoing Operations Adjusted EBITDA in a range of $6.8 billion to $7.6 billion.

Key Highlights

• Vistra issued 2026 Ongoing Operations Adjusted EBITDA guidance of $6.8 billion to $7.6 billion, with the $7.2 billion midpoint aligning with analyst expectations.
• The company secured approximately 3,800 megawatts in long-term nuclear power purchase agreements with Amazon Web Services and Meta, capitalizing on rising electricity demand from data centers.
• Vistra plans to acquire Cogentrix Energy's 5,500 MW portfolio and noted it has repurchased about 30% of its shares outstanding since November 2021, with $1.8 billion remaining on its current authorization.