Summary
Vistra Corp. reported a net income of $164 million for the three months ended June 30, 2020, a decrease from $354 million in the same period of 2019. This decline was primarily attributed to a significant decrease in unrealized gains from hedging transactions, partially offset by lower interest expense and a reduction in income tax expense. For the six months ended June 30, 2020, net income was $209 million, down from $578 million in the prior year, also impacted by lower hedging gains, an asset impairment charge, and a loss on disposal of an investment. Despite the year-over-year decline in net income, the company's operational cash flow for the first six months of 2020 was strong at $1.309 billion, an increase from $882 million in the prior year. This robust cash flow demonstrates the resilience of Vistra's integrated business model. The company maintained adequate liquidity, with total available liquidity of $1.669 billion as of June 30, 2020. Management expects to have sufficient liquidity to fund operations and capital allocation initiatives for at least the next 12 months.
Financial Highlights
50 data points| Revenue | $2.51B |
| SG&A Expenses | $236.00M |
| Operating Income | $377.00M |
| Interest Expense | $141.00M |
| Net Income | $166.00M |
| EPS (Basic) | $0.34 |
| EPS (Diluted) | $0.34 |
| Shares Outstanding (Basic) | 488.68M |
| Shares Outstanding (Diluted) | 490.47M |
Key Highlights
- 1Vistra Corp. reported a net income of $164 million for the second quarter of 2020, a decrease from $354 million in the second quarter of 2019.
- 2For the six months ended June 30, 2020, net income was $209 million, compared to $578 million for the same period in 2019.
- 3The decrease in net income was primarily due to a significant decrease in unrealized gains from hedging transactions.
- 4Operating cash flow for the first six months of 2020 was strong at $1.309 billion, an increase from $882 million in the same period of 2019.
- 5Available liquidity remained robust at $1.669 billion as of June 30, 2020.
- 6The company incurred an impairment loss of $84 million related to its Joppa/EEI coal generation facility and a related capacity contract.
- 7Interest expense and related charges decreased due to lower interest paid/accrued and reduced unrealized mark-to-market losses on interest rate swaps.