Vistra Corp. reported significant financial growth for the third quarter and the first nine months of 2024, driven by increased operating revenues and net income. For the three months ended September 30, 2024, operating revenues reached $6,288 million, a substantial increase from $4,086 million in the same period of 2023. Operating income also surged to $2,588 million, compared to $834 million in Q3 2023. Net income for the quarter was $1,837 million, up from $502 million year-over-year, while net income attributable to Vistra rose to $1,888 million from $502 million.

For the nine months ended September 30, 2024, operating revenues totaled $13,187 million, compared to $11,701 million in the same period of 2023. Net income for this period was $2,322 million, an increase from $1,676 million in 2023. The company’s earnings per share also saw a notable rise, with basic earnings per share increasing to $5.36 from $1.27 in Q3 2023.

The substantial growth in revenues and profitability was attributed to several factors, including the addition of Energy Harbor following its merger with Vistra in March 2024, which enhanced the company’s nuclear and retail operations. The merger, which cost $3.1 billion in cash, was a strategic move to diversify Vistra's portfolio across carbon-free technologies. The company also reported unrealized net gains from mark-to-market valuations of commodity positions, contributing $1.960 billion in Q3 2024, compared to losses of $345 million in Q3 2023.

Despite the positive financial performance, Vistra faced challenges, including a decrease in cash provided by operating activities, which fell to $3,210 million from $4,572 million in the previous year. Cash used in investing activities increased significantly to $4,959 million, primarily due to the Energy Harbor acquisition. Additionally, the company reported a decrease in cash and cash equivalents, ending the period with $905 million, down from $3,485 million at the end of 2023.

Vistra's total assets increased to $37,878 million as of September 30, 2024, up from $32,966 million at the end of 2023. The company’s long-term debt also rose to $14,730 million, compared to $14,402 million at the end of the previous year. The increase in debt was partly due to financing activities related to the Energy Harbor merger.

Overall, Vistra's strategic developments, particularly the Energy Harbor merger, have significantly impacted its financial performance, positioning the company for future growth in the energy sector.