:max_bytes(150000):strip_icc()/GettyImages-1232437564-d3fa05c1dcee4c019a06286f489c1fdd.jpg "Vistra Stock Pops as the 2024’s Best-Performing S&P 500 Company Tops Expectations")
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Key Takeaways
- Vistra shares are higher after the its third-quarter results comfortably topped expectations.
- The electricity provider has been the best-performing stock in the S&P 500 this year.
- Vistra has seen enthusiasm about using nuclear capacity to power energy-intensive AI processes.
Vistra Corp (VST) shares climbed after the company posted third-quarter earnings that smashed expectations after the market closed Wednesday.
The Texas-based electricity provider reported revenue of $6.29 billion, up 54% year-over-year and compared to the analyst consensus of $4.53 billion. Net income was $1.84 billion, blowing past expectations of $504.63 million.
Vistra also raised its full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast to between $5 billion and $5.2 billion from $4.55 billion to $5.05 billion.
Shares of Vistra rose more than 9% intraday Thursday and have more than tripled in value in 2024, making it the best-performing stock on the S&P 500 index this year. The company has seen a wave of enthusiasm about using nuclear capacity to power energy-intensive artificial intelligence processes.