---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-073364"
form_type: "8-K"
ticker: "VST"
cik: "0001692819"
company_name: "Vistra Corp."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:41:15.429528+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Vistra FY2025 Adj EBITDA $5.912B beats guidance; FY2026 outlook $6.8-7.6B; secures ~3.8 GW nuclear PPAs

## Summary
- Ongoing Operations Adj EBITDA $5.912B for FY2025, +$269M YoY, exceeding midpoint guidance by ~$112M.
- 2026 guidance: Adj EBITDA $6.8-7.6B; Adj FCFbG $3.925-4.725B; 2027 midpoint $7.4-7.8B (ex Cogentrix & Meta PPAs).
- Signed ~3,800 MW nuclear PPAs: 1,200 MW with AWS at Comanche Peak; 2,600 MW with Meta at PJM; supports 20-year license renewal.
- Announced Cogentrix Energy acquisition (~5,500 MW nat gas), closing mid-to-late 2026; closed Lotus (2,600 MW) in Nov 2025.
- Share repurchases ~$5.9B since 2021; shares outstanding ~337M (30% reduction); $1.8B authorization remaining, expected by 2027.

## SEC filing metadata
- accession: 0001193125-26-073364
- form_type: 8-K
- ticker: VST
- cik: 0001692819
- company_name: Vistra Corp.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692819/000119312526073364/0001193125-26-073364-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692819/000119312526073364/d21122d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-073364
- JSON: https://secwatch.observer/filing/0001193125-26-073364.json
- Plain text: https://secwatch.observer/filing/0001193125-26-073364.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.