Vistra Q2 2026: adjusted EBITDA up 31.0%, GAAP EPS misses
Vistra's second quarter of 2026 looks weak on the GAAP line and solid underneath. Net income of $305 million fell $22 million year over year as a $472 million unrealized hedge loss landed in the quarter, while Ongoing Operations Adjusted EBITDA rose 31.0% to $1.767 billion. Those hedge marks are paper losses that settle later, so the adjusted number is the better read on the business — yet GAAP EPS of $0.76 badly missed the $1.6938 consensus. View: Neutral.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $0.76, down from $0.81 a year earlier and 55.1% below the $1.6938 analyst estimate. Net income of $305 million included a $472 million unrealized loss on hedges expected to settle in future years. Strip that out and Ongoing Operations Adjusted EBITDA rose 31.0% to $1.767 billion, which is why the headline miss and the underlying quarter tell different stories.
Revenue came in at $4.401 billion, up 3.6% from $4.25 billion a year earlier. Treat this line with care: the structured data tags revenue at $4.401 billion while the income statement shows operating revenues of $4,017 million, and the filing's own data flags that gap. The segment figures in the chart total $1.794 billion and are Adjusted EBITDA by segment, not revenue.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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