Vistra

Q2 FY2026 EarningsFY26 Q2 results missed consensus expectations on the top line with revenue of $4,017M vs. $5,521M expected, primarily impacted by $611M in unrealized mark-to-market losses. Despite the revenue miss, GAAP Diluted EPS of $0.76 and Adjusted EBITDA of $1,744M remained robust, supported by higher realized capacity prices in the East and optimization of gas units in Texas. Management highlighted significant growth progress, including a $1B commitment to a digital infrastructure fund with KKR to capture AI-driven data center demand.