Reported profit and adjusted earnings
Vistra reported third-quarter 2026 net income of $1.14 billion on November 6, compared with $652 million a year earlier. The unaudited results cover the three months ended September 30.
Net income includes $559 million of unrealised gains on hedges expected to settle in future years. Separately, ongoing-operations adjusted EBITDA rose to $2.378 billion from $1.581 billion. That non-GAAP measure excludes specified items and is not equivalent to net income or cash received.
What the forecasts say
The company raised the midpoint and narrowed its 2026 ongoing-operations adjusted EBITDA forecast to $7.1 billion to $7.5 billion. It introduced a 2027 range of $7.7 billion to $8.5 billion. Both are company forecasts, rather than achieved results.
The release contains the reconciliations and assumptions for comparing these adjusted measures with GAAP figures. It does not establish a change to household electricity tariffs.
Capacity additions have separate dates
Vistra says it closed the acquisition of approximately 5,500 MW of gas-fired Cogentrix capacity in October. It also reports the start of commercial operations at the 405 MW Pulaski solar facility in Illinois and the 100 MW Deer Creek solar and energy-storage facility in California.
Those operating milestones are reported alongside the November earnings release; they are not all events that happened on November 6. The company serves US electricity customers from California to Maine, but these financial results do not guarantee future power prices or share performance.
