Followers | 241 |
Posts | 12150 |
Boards Moderated | 3 |
Alias Born | 04/05/2009 |
Saturday, December 10, 2016 9:56:08 AM
DALLAS, Dec. 6, 2016 /PRNewswire/ --Vistra Energy (OTCQX: VSTE), the parent company for TXU Energy and Luminant, today announced updated expectations for 2016 adjusted EBITDA and adjusted free cash flow and also initiated 2017 guidance for the same metrics.
Curt Morgan, Vistra Energy's chief executive officer, commented, "We are moving into 2017 as a newly reorganized entity with our support cost structure competitively aligned, a strong balance sheet, and diversified assets. We believe our unique integrated business model, pairing TXU Energy's leading retail platform with Luminant's reliable and efficient generating capabilities, will provide investors with an attractive, stable earnings profile, as is evidenced by our 2017 guidance. We will continue to focus on increasing shareholder value in 2017 as we leverage and expand on our core competencies."
2016 Expectations
Vistra Energy anticipates 2016 adjusted EBITDA in the range of $1,550 million to $1,615 million, representing an increase of nearly 4 percent based on the midpoint as compared to 2016 adjusted EBITDA projected by its predecessor, Texas Competitive Electric Holdings Company LLC, in connection with its bankruptcy plan of reorganization and its related exit financing. Vistra Energy expects 2016 adjusted free cash flow in the range of $615 million to $680 million.
2017 Guidance
Vistra Energy is initiating guidance for 2017 with an adjusted EBITDA range of $1,350 million to $1,500 million and an adjusted free cash flow range of $745 million to $925 million. The 2017 adjusted EBITDA guidance reflects a more than 8 percent increase based on the midpoint as compared to 2017 adjusted EBITDA projected by its predecessor in connection with its bankruptcy plan of reorganization and its related exit financing. The primary drivers of the projected increase are continued outperformance by TXU Energy versus previous projections, as well as enhanced support cost savings realization.
The 2017 guidance ranges reflect the impact of two planned nuclear refueling outages in 2017 versus one refueling outage in each of 2015 and 2016. Excluding the approximately $65 million impact of incremental operating and maintenance expenses related to the additional outage, the 2017 adjusted EBITDA guidance would have reflected a range of $1,415 million to $1,565 million. The 2017 guidance ranges further reflect forward price curves as of September 30, 2016 and assume certain of our coal units will operate flexibly, depending on market conditions and needs, while anticipating no coal plant retirements.
About Non-GAAP Financial Measures and Items Affecting Comparability
"Adjusted EBITDA" (EBITDA as adjusted for unrealized gains or losses from hedging activities, tax receivable agreement accretion, reorganization items, and certain other items described from time to time in Vistra Energy's earnings releases); and "adjusted free cash flow" (cash from operating activities adjusted for capital expenditures, other net investment activities, preferred stock dividends, and other items described from time to time in Vistra Energy's earnings releases), are "non-GAAP financial measures." A non-GAAP financial measure is a numerical measure of financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in Vistra Energy's consolidated statements of operations, comprehensive income, changes in stockholders' equity and cash flows. Non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable GAAP measures. Vistra Energy's non-GAAP financial measures may be different from non-GAAP financial measures used by other companies.
Vistra Energy uses adjusted EBITDA as a measure of performance and believes that analysis of its business by external users is enhanced by visibility to both net income prepared in accordance with GAAP and adjusted EBITDA. Vistra Energy uses adjusted free cash flow as a measure of liquidity and believes that analysis of its ability to service its cash obligations is supported by disclosure of both cash provided by (used in) operating activities prepared in accordance with GAAP as well as adjusted free cash flow.
Additional Information
Vistra Energy's guidance materials will be available on the "Investor Relations" section of www.vistraenergy.com later today. Further, Vistra Energy plans to begin hosting quarterly earnings conference calls in connection with the release of its fourth quarter 2016 financial results in March 2017.
http://www.prnewswire.com/news-releases/vistra-energy-updates-2016-expectations-and-initiates-2017-guidance-300373323.html
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Recent VST News
- TXU Energy Announces Recipients of 2024 Energy Leadership Awards • PR Newswire (US) • 09/19/2024 02:26:00 PM
- Vistra to Acquire Equity Interests of Vistra Vision LLC from Minority Investors • PR Newswire (US) • 09/18/2024 09:00:00 PM
- Vistra Partners With Sunrun on Residential Battery Aggregation Program • PR Newswire (US) • 09/11/2024 02:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/15/2024 08:36:58 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/13/2024 08:07:38 PM
- TXU Energy and Ford Team Up to Offer Daily Free Home Charging Hours • PR Newswire (US) • 08/12/2024 12:51:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 11:13:01 AM
- Vistra Reports Second Quarter 2024 Results • PR Newswire (US) • 08/08/2024 11:00:00 AM
- U.S. Index Futures Drop, Signaling Ongoing Market Volatility; Oil Prices Stall • IH Market News • 08/08/2024 09:55:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 11:18:52 PM
- Vistra Declares Dividend on Common Stock and Series A Preferred Stock • PR Newswire (US) • 07/31/2024 10:30:00 PM
- Vistra Publishes 2023 Sustainability Report Highlighting Accelerated Portfolio Transformation & Responsible Decarbonization • PR Newswire (US) • 07/31/2024 05:45:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/31/2024 10:07:00 AM
- Vistra Receives Approval to Operate Comanche Peak Nuclear Plant Through 2053 • PR Newswire (US) • 07/30/2024 08:11:00 PM
- Homefield Energy Contracts with U.S. General Services Administration to Advance Sustainability Goals • PR Newswire (US) • 07/30/2024 02:00:00 PM
- Vistra to Report Second Quarter Results on Aug. 8, 2024 • PR Newswire (US) • 07/16/2024 08:30:00 PM
- Vistra Pledges $1 Million to Aid Customers and Communities Impacted by Hurricane Beryl • PR Newswire (US) • 07/15/2024 03:11:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 08:06:29 PM
- BP Slashes Profit Forecast by $700 Million; Morgan Stanley Predicts S&P 500 10% Drop, and More News • IH Market News • 07/09/2024 10:54:32 AM
- Vistra Announces Plans to Add Up to 2,000 MW of Gas-Fueled Dispatchable Power in ERCOT • PR Newswire (US) • 05/30/2024 08:00:00 PM
- TXU Energy Announces Recipients of 2024 Energy Leadership Awards • PR Newswire (US) • 05/22/2024 07:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:37:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:35:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 09:29:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 11:01:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM