U.S. markets closed
  • S&P Futures

    4,419.50
    -2.00 (-0.05%)
     
  • Dow Futures

    34,917.00
    -26.00 (-0.07%)
     
  • Nasdaq Futures

    15,164.75
    -3.00 (-0.02%)
     
  • Russell 2000 Futures

    2,231.00
    -1.70 (-0.08%)
     
  • Crude Oil

    69.18
    +0.09 (+0.13%)
     
  • Gold

    1,803.20
    -5.70 (-0.32%)
     
  • Silver

    25.16
    -0.13 (-0.52%)
     
  • EUR/USD

    1.1826
    -0.0011 (-0.09%)
     
  • 10-Yr Bond

    1.2170
    +0.0330 (+2.79%)
     
  • Vix

    17.28
    -0.69 (-3.84%)
     
  • GBP/USD

    1.3921
    -0.0010 (-0.07%)
     
  • USD/JPY

    109.8580
    +0.1050 (+0.10%)
     
  • BTC-USD

    40,252.64
    +815.48 (+2.07%)
     
  • CMC Crypto 200

    992.10
    +16.21 (+1.66%)
     
  • FTSE 100

    7,120.43
    -3.43 (-0.05%)
     
  • Nikkei 225

    27,832.44
    +104.34 (+0.38%)
     

Vistra Energy (VST) Posts Wider Q1 Loss Due to Storm Uri Woes

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Vistra Energy Corp. VST reported a loss of $4.21 per share in the first quarter of 2021, much wider than the Zacks Consensus Estimate of $1.34. Also, the bottom line came against the year-ago quarter’s earnings of 11 cents per share due to the negative impact of the winter storm Uri.

Revenues

In the first quarter of 2021, operating revenues of $3,207 million improved 12.2% from $2,858 million in the prior-year quarter.

Vistra Corp. Price, Consensus and EPS Surprise

Vistra Corp. Price, Consensus and EPS Surprise
Vistra Corp. Price, Consensus and EPS Surprise

Vistra Corp. price-consensus-eps-surprise-chart | Vistra Corp. Quote

Highlights of the Release

Total operating expenses for the quarter amounted to $371 million, down 2.1% from 2020’s first-quarter figure of $379 million.

Operating loss came in at $2,583 million against the prior-year quarter’s income of $391 million.

In the first quarter of 2021, the company’s residential customer count slipped 2.3% from the prior-year quarter's level. Retail electric volumes in the first quarter rose 21.9% year over year.

Financial Position

As of Mar 31, 2021, Vistra Energy had cash and cash equivalents of $561 million compared with $406 million as of Dec 31, 2020.

As of Mar 31, 2021, the company had long-term debt of $9,312 million, up from $9,235 million on Dec 31, 2020.

The company’s cash used in operating activities in the to-be-reported quarter was $1,653 million compared with the cash provided by operating activities of $552 million in the first three months of 2020.

Capital expenditures including nuclear fuel purchases and LTSA prepayments in the first three months of 2021 were $192 million compared with $261 million in the comparable period of 2020.

Guidance

After considering the impact of the winter storm Uri, the company expects 2021 adjusted EBITDA in the range of $1,475-$1,875 million, down from the prior expectation of $3,075-$3,475 million. Also, it anticipates total capital expenditures for 2021 to be $1,116 million.

Zacks Rank

Vistra Energy has a Zacks Rank #4 (Sell), currently.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Utility Releases

American Electric Power Co., Inc. AEP reported first-quarter 2021 adjusted earnings per share of $1.15, which missed the Zacks Consensus Estimate of $1.23 by 6.5%.

NextEra Energy, Inc. NEE reported first-quarter 2021 adjusted earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 60 cents by 11.7%.

FirstEnergy Corporation FE delivered first-quarter 2021 operating earnings of 69 cents per share, which beat the Zacks Consensus Estimate of 68 cents by 1.5%.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.

Click here for the 4 trades >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

FirstEnergy Corporation (FE) : Free Stock Analysis Report

American Electric Power Company, Inc. (AEP) : Free Stock Analysis Report

NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

Vistra Corp. (VST) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research