VST Q2 2025 Earnings
Reported Aug 7, 2025 at 3:00 AM ET · SEC Source
Q2 25 EPS
$N/A
Q2 25 Revenue
$4.25B
vs S&P Since Q2 25
-37.9%
TRAILING MARKET
VST -24.0% vs S&P +14.0%
Market Reaction
Did VST Beat Earnings? Q2 2025 Results
Vistra Corp. Posted a mixed but strategically eventful second quarter for 2025, with earnings of $1.01 per share edging past consensus estimates even as revenue of $4.25 billion, up 10.5% from $3.85 billion a year earlier, fell short of Wall Street e… Read more Vistra Corp. Posted a mixed but strategically eventful second quarter for 2025, with earnings of $1.01 per share edging past consensus estimates even as revenue of $4.25 billion, up 10.5% from $3.85 billion a year earlier, fell short of Wall Street expectations. GAAP net income slid to $327 million from $467 million in Q2 2024, weighed down by elevated plant outage costs at Martin Lake Unit 1 and Moss Landing, a $68 million impairment charge, and higher depreciation tied to capital additions. Ongoing Operations Adjusted EBITDA declined $63 million year-over-year to $1.35 billion for the same reasons, though the company's aggressive capital return program remained intact, with roughly $5.40 billion in cumulative buybacks since November 2021 shrinking shares outstanding by about 30%. Looking ahead, Vistra reaffirmed its 2025 Adjusted EBITDA guidance of $5.50 billion to $6.10 billion and raised its 2026 midpoint opportunity to more than $6.80 billion, buoyed by surging electricity demand from AI data centers and a pending acquisition of 2,600 MW of natural gas capacity from Lotus Infrastructure Partners.
Key Takeaways
- • Higher operating revenues driven by integrated business model across pricing and weather conditions
- • Higher plant outage costs including Martin Lake Unit 1 and Moss Landing reduced Adjusted EBITDA by $63 million YoY
- • Increased depreciation and amortization from capital additions
- • Impairment of long-lived assets of $68 million in the Texas segment
- • Insurance income of $80 million related to Martin Lake incident property damage
VST YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“With power demand rising, our team at Vistra remains steadfast in our commitment to reliably power American homes and businesses, providing a critical foundation for the U.S. economy. This quarter, we solidified several opportunities to expand our generation capacity and capabilities for decades to come, including through the execution of a definitive agreement to acquire a 2,600-MW natural gas generation fleet spanning the PJM, New England, New York, and California electricity markets, and through NRC approval of a license extension through 2046 for our Perry Nuclear Power Plant in Ohio. Now, each of Vistra's six nuclear reactors are licensed to operate for a total of 60 years.”
— Jim Burke, Q2 2025 Earnings Press Release
VST Earnings Trends
VST vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VST EPS Trend
Earnings per share: estimate vs actual
VST Revenue Trend
Quarterly revenue: estimate vs actual
VST Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 FY | $1.33 | — | — | — | — |
| FY Full Year | — | — | — | $17.74B | — |
| Q3 25 | — | — | — | $4.97B | — |
| Q2 25 | — | — | — | $4.25B | — |
| Q1 25 | $0.68 | — | — | $3.93B | +4.18% |