Vistra Energy Corp. (VST - Free Report) reported adjusted earnings of $1.45 per share for fourth-quarter 2021, missing the Zacks Consensus Estimate of $3.14 by 53.8%. In the year-ago quarter, VST incurred an adjusted loss per share of 2 cents.
Revenues
For fourth-quarter 2021, operating revenues of $3,314 million were up 31.3% from $2,524 million in the prior-year period. The top line missed the Zacks Consensus Estimate of $4,664 million by 28.9%.
Total revenues for 2021 were $12.1 billion, increasing 5.5% year over year but lagging the Zacks Consensus Estimate of $14.3 billion by 15.4%.
Highlights of the Release
Operating costs for 2021 were $1,559 million, down 3.9% from the 2020 figure of $1,622 million.
For fourth-quarter 2021, the company’s residential customer count slipped 0.7% from the prior-year level. Retail electric volumes for the fourth quarter improved 2.4% year over year.
VST paid a $290-million dividend to shareholders. It has repurchased 7% of its outstanding shares since third-quarter 2021.
Financial Position
As of Dec 31, 2021, Vistra Energy had cash and cash equivalents of $1,325 million compared with $406 million in the corresponding period of 2020.
As of Dec 31, 2021, the company had long-term debt of $10,477 million, up from $9,235 million in the comparable period of 2020.
Cash used in operating activities in 2021 was $206 million compared with cash provided by operating activities of $3,337 million in 2020.
Capital expenditures including nuclear fuel purchases and long-term service agreement prepayments for 2021 were $1,033 million compared with $1,259 million in 2020.
Vistra reduced debt by $625 million in the fourth quarter and aims to lower debt by $1.5 billion by 2022-end.
Vistra also announced plans to return a minimum of $7.5 billion to shareholders through 2026-end via share repurchases and dividends.
Guidance
Vistra Energy reaffirmed its 2022 adjusted EBITDA view in the range of $2,810-$3,310 million and adjusted free cash flow guidance within $2,070-$2,570 million.
Zacks Rank
Vistra Energy has a Zacks Rank #3 (Hold) at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 operating earnings per share of 41 cents, which surpassed the Zacks Consensus Estimate of 40 cents by 2.5%. NextEra Energy’s long-term (three to five) earnings growth is projected at 8.8%. The Zacks Consensus Estimate for NEE’s 2022 earnings indicates year-over-year growth of 8.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2021 operating earnings of 90 cents per share, on par with the Zacks Consensus Estimate. Dominion’s long-term earnings growth is projected at 6.6%. The Zacks Consensus Estimate for D’s 2022 earnings indicates a year-over-year decline of 6.4%.
AVANGRID, Inc. (AGR - Free Report) reported fourth-quarter 2021 earnings of 44 cents per share, beating the Zacks Consensus Estimate of 39 cents by 12.8%. AVANGRID’s long-term earnings growth is projected at 7.7%. The Zacks Consensus Estimate for AGR’s 2023 earnings indicates year-over-year growth of 13.9%.
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Vistra Energy Corp. (VST - Free Report) reported adjusted earnings of $1.45 per share for fourth-quarter 2021, missing the Zacks Consensus Estimate of $3.14 by 53.8%. In the year-ago quarter, VST incurred an adjusted loss per share of 2 cents.
Revenues
For fourth-quarter 2021, operating revenues of $3,314 million were up 31.3% from $2,524 million in the prior-year period. The top line missed the Zacks Consensus Estimate of $4,664 million by 28.9%.
Total revenues for 2021 were $12.1 billion, increasing 5.5% year over year but lagging the Zacks Consensus Estimate of $14.3 billion by 15.4%.
Highlights of the Release
Operating costs for 2021 were $1,559 million, down 3.9% from the 2020 figure of $1,622 million.
For fourth-quarter 2021, the company’s residential customer count slipped 0.7% from the prior-year level. Retail electric volumes for the fourth quarter improved 2.4% year over year.
VST paid a $290-million dividend to shareholders. It has repurchased 7% of its outstanding shares since third-quarter 2021.
Financial Position
As of Dec 31, 2021, Vistra Energy had cash and cash equivalents of $1,325 million compared with $406 million in the corresponding period of 2020.
As of Dec 31, 2021, the company had long-term debt of $10,477 million, up from $9,235 million in the comparable period of 2020.
Cash used in operating activities in 2021 was $206 million compared with cash provided by operating activities of $3,337 million in 2020.
Capital expenditures including nuclear fuel purchases and long-term service agreement prepayments for 2021 were $1,033 million compared with $1,259 million in 2020.
Vistra reduced debt by $625 million in the fourth quarter and aims to lower debt by $1.5 billion by 2022-end.
Vistra also announced plans to return a minimum of $7.5 billion to shareholders through 2026-end via share repurchases and dividends.
Guidance
Vistra Energy reaffirmed its 2022 adjusted EBITDA view in the range of $2,810-$3,310 million and adjusted free cash flow guidance within $2,070-$2,570 million.
Zacks Rank
Vistra Energy has a Zacks Rank #3 (Hold) at present.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
NextEra Energy (NEE - Free Report) reported fourth-quarter 2021 operating earnings per share of 41 cents, which surpassed the Zacks Consensus Estimate of 40 cents by 2.5%. NextEra Energy’s long-term (three to five) earnings growth is projected at 8.8%. The Zacks Consensus Estimate for NEE’s 2022 earnings indicates year-over-year growth of 8.6%.
Dominion Energy Inc. (D - Free Report) reported fourth-quarter 2021 operating earnings of 90 cents per share, on par with the Zacks Consensus Estimate. Dominion’s long-term earnings growth is projected at 6.6%. The Zacks Consensus Estimate for D’s 2022 earnings indicates a year-over-year decline of 6.4%.
AVANGRID, Inc. (AGR - Free Report) reported fourth-quarter 2021 earnings of 44 cents per share, beating the Zacks Consensus Estimate of 39 cents by 12.8%. AVANGRID’s long-term earnings growth is projected at 7.7%. The Zacks Consensus Estimate for AGR’s 2023 earnings indicates year-over-year growth of 13.9%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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