Vistra in talks with data center hyperscalers to upgrade nuclear plants to boost power output
Vistra (NYSE:VST) +7.8% in Thursday’s trading, off earlier highs over 10%, after crushing analyst expectations with a 54% Y/Y surge in revenues to $6.28B in Q3, while also raising full-year profit guidance and authorizing an additional $1B of stock buybacks.
Q3 ongoing operations net earnings soared to $1.85B from $519M in the year-earlier quarter, and ongoing operations adjusted EBITDA totaled $1.44B, in-line with expectations.
Vistra (VST) raised and narrowed guidance for FY 2024 ongoing operations adjusted EBITDA and ongoing operations adjusted free cash flow guidance to $5B-$5.2B and $2.65B-$2.85B, respectively, excluding any potential benefit from the nuclear production tax credit, and initiated FY 2025 guidance for the two metrics at $5.5B-$6.1B and $3B-$3.6B, respectively.
The company is in early discussions with some of some of the biggest data center developers to upgrade nuclear plants to increase power output, Vistra’s chief strategy and sustainability officer Stacey Dore said on the company’s earnings conference call.
Vistra (VST) is having discussions with data center developers in Texas and parts of the PJM grid, including Pennsylvania and Ohio, including two large companies about building new natural gas plants to support a data center project, and talks over the company’s Comanche Peak nuclear plant in Texas have been going on for some time, Dore reportedly said.
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Vistra in talks with data center hyperscalers to upgrade nuclear plants to boost power output, source
