Vistra Energy
Vistra Energy Reports First Quarter 2017 Results

May 19, 2017

Vistra Energy (NYSE: VST), the parent company for TXU Energy and Luminant, reported first quarter 2017 net income of $78 million and cash provided by operating activities of $141 million.  Adjusted EBITDA for the first quarter 2017 was $276 million and adjusted free cash flow was $(48) million.

Curt Morgan, Vistra Energy's chief executive officer, remarked, "Vistra Energy is off to a great start in 2017, delivering solid earnings despite some headwinds created by mild winter weather in Texas, once again demonstrating the resilience of our integrated model.  Our retail team continues to excel at customer acquisition and retention growing residential customer counts in the quarter.  The team's performance resulted in lower levels of customer churn than anticipated, which partially offset lower than expected earnings driven by reduced consumption from the mild winter."

Morgan added, "Complementing our premier retail business, our wholesale generation operations were highly reliable during the quarter, achieving commercial availability of 95%, and our wholesale commercial operations team achieved realized prices nearly 55% higher than settled prices during the quarter."

"Further, our corporate team concluded the process for our shares to be uplisted to the New York Stock Exchange as planned, with our first day of trading on the NYSE last Wednesday," Morgan said.  "We are executing on our commitments and we will continue to work tirelessly to deliver value to our shareholders."

Click here to read the full press release.

For more information:

Vistra Energy

Link http://www.electricenergyonline.com/detail_news.php?ID=638680
Most consulted news
Click here to try the new version of Electric Energy Online!