Vistra Corporation’s (VST - Free Report) second-quarter 2022 earnings of $1.48 per share surpassed the Zacks Consensus Estimate of 17 cents by a whopping 770.6%.
Total Revenues
Vistra's second-quarter total revenues of $1,588 million missed the Zacks Consensus Estimate of $2,578 million by 38.7%. The top line decreased 38.1% from the year-ago figure of $2,565 million.
Highlights of the Release
Vistra's second-quarter fuel, purchased power costs and delivery fees were $2,162 million, up 63.8% year over year. Similarly, operating costs increased 1.4%, and selling, general and administrative expenses grew 11.1%.
Due to the overall increase in operating expenses, Vistra reported an operating loss of $1,683 million in the second quarter against an operating income of $62 million in second-quarter 2021.
Interest expenses and related charges totaled $109 million, down 19.3% from the year-ago quarter.
As of Aug 2, 2022, Vistra completed $1.6 billion worth of share repurchases under its existing $2-billion share repurchase program. Vistra has purchased 70.5 million shares since Nov 2, 2021, representing 14.6% of the shares outstanding at that time. Taking into account the incremental $1.25-billion authorization, $1.65 billion remains available for execution under the program, which Vistra expects to execute by the end of 2023.
Financial Highlights
Cash and cash equivalents were $1,871 million as of Jun 30, 2022, compared with $1,325 million as of Dec 31, 2021. As of Jun 30, 2022, Vistra had total available liquidity of nearly $3,439 million, including cash and cash equivalents of $1,871 million, $368 million of availability under its corporate revolving credit facility, and $1,200 million of availability under its commodity-linked revolving credit facility, assuming the borrowing base equals the aggregate commitments of $2.25 billion.
Long-term debt was $11,949 million as of Jun 30, 2022, compared with $10,477 million as of Dec 31, 2021.
Cash used in operating activities for the first six months of 2022 was $723 million compared with $1,057 million in the first six months of 2021.
Guidance
Vistra is reaffirming its 2022 ongoing operations adjusted EBITDA in the range of $2,810-$3,310 million.
Zacks Rank
Vistra has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%.
The Zacks Consensus Estimate for NextEra Energy’s 2022 earnings has moved up 1.8% in the past 60 days. NEE’s long-term (three to five years) earnings growth is pegged at 9.3%.
WEC Energy Group (WEC - Free Report) delivered second-quarter 2022 earnings per share of 91 cents, which beat the Zacks Consensus Estimate of 86 cents by 5.8%.
The Zacks Consensus Estimate for WEC Energy’s 2022 earnings has gone up 0.2% in the past 60 days. WEC’s long-term earnings growth is pegged at 6.1%.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating earnings per share of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings has gone up 0.6% in the past 60 days. AEP’s long-term earnings growth is pegged at 6.2%.
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Vistra Corporation’s (VST - Free Report) second-quarter 2022 earnings of $1.48 per share surpassed the Zacks Consensus Estimate of 17 cents by a whopping 770.6%.
Total Revenues
Vistra's second-quarter total revenues of $1,588 million missed the Zacks Consensus Estimate of $2,578 million by 38.7%. The top line decreased 38.1% from the year-ago figure of $2,565 million.
Highlights of the Release
Vistra's second-quarter fuel, purchased power costs and delivery fees were $2,162 million, up 63.8% year over year. Similarly, operating costs increased 1.4%, and selling, general and administrative expenses grew 11.1%.
Due to the overall increase in operating expenses, Vistra reported an operating loss of $1,683 million in the second quarter against an operating income of $62 million in second-quarter 2021.
Interest expenses and related charges totaled $109 million, down 19.3% from the year-ago quarter.
As of Aug 2, 2022, Vistra completed $1.6 billion worth of share repurchases under its existing $2-billion share repurchase program. Vistra has purchased 70.5 million shares since Nov 2, 2021, representing 14.6% of the shares outstanding at that time. Taking into account the incremental $1.25-billion authorization, $1.65 billion remains available for execution under the program, which Vistra expects to execute by the end of 2023.
Financial Highlights
Cash and cash equivalents were $1,871 million as of Jun 30, 2022, compared with $1,325 million as of Dec 31, 2021. As of Jun 30, 2022, Vistra had total available liquidity of nearly $3,439 million, including cash and cash equivalents of $1,871 million, $368 million of availability under its corporate revolving credit facility, and $1,200 million of availability under its commodity-linked revolving credit facility, assuming the borrowing base equals the aggregate commitments of $2.25 billion.
Long-term debt was $11,949 million as of Jun 30, 2022, compared with $10,477 million as of Dec 31, 2021.
Cash used in operating activities for the first six months of 2022 was $723 million compared with $1,057 million in the first six months of 2021.
Guidance
Vistra is reaffirming its 2022 ongoing operations adjusted EBITDA in the range of $2,810-$3,310 million.
Zacks Rank
Vistra has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%.
The Zacks Consensus Estimate for NextEra Energy’s 2022 earnings has moved up 1.8% in the past 60 days. NEE’s long-term (three to five years) earnings growth is pegged at 9.3%.
WEC Energy Group (WEC - Free Report) delivered second-quarter 2022 earnings per share of 91 cents, which beat the Zacks Consensus Estimate of 86 cents by 5.8%.
The Zacks Consensus Estimate for WEC Energy’s 2022 earnings has gone up 0.2% in the past 60 days. WEC’s long-term earnings growth is pegged at 6.1%.
American Electric Power Company, Inc. (AEP - Free Report) reported second-quarter 2022 operating earnings per share of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings has gone up 0.6% in the past 60 days. AEP’s long-term earnings growth is pegged at 6.2%.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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