Vistra Corp.

Vistra Corp. reported a significant financial turnaround in Q1 2026, achieving a net income of $1.03 billion and diluted EPS of $2.87, compared to a net loss in the prior year. Operating revenues increased substantially to $5.64 billion. The company also announced an agreement to acquire Cogentrix Energy for approximately $2.3 billion cash and 5 million shares, and completed the Lotus Acquisition for $1.23 billion. Additionally, Vistra Operations issued $4.0 billion in senior unsecured notes, repaid existing debt, and achieved an investment-grade credit rating, leading to the release of collateral.

Vistra Corp. reported strong first-quarter 2026 financial results, with GAAP Net Income reaching $1,029 million and Ongoing Operations Adjusted EBITDA increasing to $1,494 million. The company reaffirmed its 2026 guidance ranges for Ongoing Operations Adjusted EBITDA and Adjusted Free Cash Flow before Growth. Vistra also highlighted the upgrade of its corporate issuer credit rating to Investment Grade by a second major agency, significant share repurchases, and progress on strategic initiatives like the Cogentrix acquisition and Meta power purchase agreements.

Vistra Operations Company LLC, a subsidiary of Vistra Corp., executed a supplemental indenture dated April 22, 2026, to issue $4 billion in senior notes across four series. These notes include 4.550% Senior Notes due 2028, 5.000% Senior Notes due 2031, 5.250% Senior Notes due 2033, and 5.550% Senior Notes due 2036. The indenture outlines terms for definitions, notes, redemption, covenants, defaults, and guarantees.