Vistra Corp.

Company facts

Industry

Electric Services

Headquarters

Irving, Texas

Most recent report

8-K, filed Sep 24, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1692819

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 13 sections worth reading, with 0 positive, 13 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Core financial statements with material results and disclosures.
  Notable

  • Cogentrix acquisition pending for $2.3B cash plus 5M shares, expected late 2026.
  • Committed up to $1B to KKR Helix Fund for AI/data center infrastructure, including initial $500M.
  • Moss Landing fire: $85M remaining accrued for EPA remediation, total estimated $175M.
  • Indenture Collateral Release eliminated liens on Senior Secured Notes after investment-grade upgrades.
  • Revolving Credit Facility increased from $3.44B to $5.5B in June 2026 amendment.

• Management's Discussion (Item 2)

  Numerous company-specific results, strategic moves, and quantified risks. Essential for understanding Vistra's period.
  Notable

  • Agreed to sell Casco Bay, Beaver Falls, and Syracuse gas plants (Disposal Group) with closing expected H2 2026, assets classified as held for sale.
  • Received $583M loan from Texas Energy Fund at 3% fixed for building 860 MW peaking plant in west Texas ($172M drawn as of June 30, 2026).
  • Collateral on senior secured notes released after investment-grade upgrades (S&P, Fitch), and $2.444B Term Loan B-3 repaid in April 2026.
  • Entered 20-year PPAs with Meta for 2,609 MW of nuclear power and uprates, with full delivery by 2027 (operating) and 2034 (uprates).
  • Lotus Acquisition completed (2,600 MW) for $1.9B base price, funded with cash and assumed $800M debt, adding plants in PJM, ISO-NE, NYISO, CAISO.
  • 20-year PPA with AWS for 1,200 MW of carbon-free power from Comanche Peak nuclear plant, deliveries starting Q4 2027 ramping to full by 2032.
  • Repurchased $709M of common stock in H1 2026 and paid $250M in dividends to common and preferred shareholders.
  Negative

  • Supply chain constraints forced deferral or abandonment of some solar and battery capital projects, impacting future growth.
  • Iran conflict may indirectly affect operations via commodity price volatility, supply chains, and capital markets, though no direct exposure.
  • Asset Closure net loss grew to $116M (Q2 2026) from $43M (Q2 2025) due to costs from the Moss Landing fire net of insurance.

• Market Risk (Item 3)

  Quantified VaR doubled, high counterparty concentration, debt paydown disclosed.
  Notable

  • Interest rate swaps now hedge just $414M of project-level debt, down from over $2.7B in prior period due to loan repayment and swap termination.
  Negative

  • One counterparty represents $236M, or 36% of wholesale net credit exposure as of June 30, 2026. High concentration risk.

What changed: Jun 2026 vs. Mar 2026

About 13% of VST's Jun 2026 10-Q is new information. 80 paragraphs were added, 244 changed, and 78 removed. Below are the most important lines SECSift identified.

• Item 1 149
• Item 2 90
• Item 3 7
• Item 5 3
• Item 4 1