In the last trading session, the stock price of Vistra Energy Corp (NYSE:VST) gained 0.11% to close the day at $18.70. The gains came at a share volume of 3.78 million compared to average share volume of 3.93 million. During the earning release for Q3 2017, the company had narrowed its guidance for FY2017.
Vistra Energy posted net income of $273 million in Q3 2017. Net income for the initial three quarters of 2017 came at $325 million while cash offered by operating activities was $845 million for the same period. Adjusted EBITDA came at $522 million in Q3 2017. For the preliminary three quarters of 2017, the company’s adjusted EBITDA stood at $1,143 million while adjusted free cash flow came at $625 million.
Curt Morgan, the CEO of Vistra Energy, expressed that the company’s third quarter results were remarkable, despite substandard summer weather and the unintended outage at Comanche Peak Unit II that lasted through August. Their performance this quarter, in the scenario of these challenges, once again reinstate the strength of their integrated operations and their commercial capabilities.
The CEO of Vistra added that in 2017 they have put substantial focus on enhancing the value of their wholesale operations so as to successfully compete in this tough, low wholesale power price setting. Their operations performance measure has been successful, listing around $50 million in yearly run-rate EBITDA enhancement prospects on a full-year basis. Irrespective this great outcome, certain of their coal assets no longer boost continued investment in this current oversupplied generation segment, which comprises the growth of subsidized renewables, that together with low natural gas prices has established a period of considerably low wholesale power prices.
Hence, earlier this month Vistra reported the difficult decision to close three of its coal plants. Morgan added that they thank their employees at these locations, who have reliably supported Texas for years, for their dedicated service.