On May 4, Vistra Energy held its first post-merger earnings call and announced Q1’18 results. Highlights include:

  • Completed merger with Dynegy on April 9, 2018 — ahead of schedule and without any required divestiture of ERCOT gas-fueled power plants
  • Increased targeted EBITDA, free cash flow, and tax synergy value levers associated with the merger by nearly 60 percent.
  • Initiated 2018 and 2019 combined company guidance, provided 2018 illustrative guidance pro forma for a Jan. 1, 2018 merger close, and provided 2019 illustrative guidance pro forma for full run-rate of merger synergies; projections significantly higher than Vistra management’s October 2017 forecast:
  • Repurchased a portion of Odessa Power Plant earnout, with an expected earnings benefit (net of premium paid) of approximately $23 million in the aggregate forecasted to be realized over the next three years
  • Grew retail customer counts and introduced new digital platform for multifamily customers
  • Scheduled to reach commercial operations at 180 MW Upton County 2 solar facility on May 31, 2018
  • Repaid remaining $850 million principal amount of 6.75% senior notes due 2019 on May 1, 2018

The earnings press release can be found at:


The earnings presentation can be found at: