Vistra Q3 2026: net income $1.14 billion, EBITDA up more than 50%
Vistra's third quarter of 2026 was a big one: revenue rose 27.7% to $6.35 billion and net income reached $1.14 billion, helped by a $559 million unrealized hedge gain. Ongoing Operations Adjusted EBITDA climbed more than 50% to $2.38 billion, and management raised and narrowed 2026 guidance. Read the two together: the hedge gain is paper profit, while the EBITDA and cash flow are the durable part of the story.
1 · Expected vs. Actual
Free preview belowDiluted EPS was $3.23 versus $1.75 a year ago, on net income of $1.14 billion against $652 million. Roughly $559 million of the pre-tax result is an unrealized gain on hedges that will settle in future years, so it is paper profit rather than cash. Judge the quarter on the $2.38 billion Adjusted EBITDA line, which strips those swings out.
Reported operating revenue was $6.35 billion, up 27.7% from $4.97 billion a year earlier. Note the data flag: the structured feed carries $5.99 billion while the income statement shows $6,347 million, so anchor on the $6.35 billion figure from the statement. The segment table sums to $2.38 billion, but those are Adjusted EBITDA numbers, not revenue, so that gap is not the same problem.
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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 2026-11-09
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