The S&P 500’s best performer this year is surging once again after earnings
Texas-based utility firm Vistra Corp is the big beneficiary of accelerating demand for electricity.
Vistra, the top S&P 500 performer in 2024, is on a renewed press higher after reporting better-than-expected quarterly results and boosting its full-year earnings outlook.
The power generator has soared 227% year to date through Wednesday, and is adding another 4.8% as of 10:12 a.m. ET.
Revenues of $6.3 billion were well above the $5 billion consensus estimate, with earnings per share of $1.28 also exceeding analysts’ expectations.
Demand for electricity accelerated meaningfully in 2024 relative to average growth over the past 10 years, and grid operators in regions where Vistra has a major footprint are forecasting even stronger growth through the end of the decade.
Management’s improved guidance for 2024 and initial range for 2025 doesn’t include potential benefits from nuclear-production tax credits, which could add materially to its bottom-line results. The board also authorized another $1 billion in share repurchases to be carried out by the end of 2026.
