Vistra Corp 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2026 — OR —☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from __ to __ Commission File Number 001-38086 Vistra Corp. Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to suchfiling requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submitsuch files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growthcompany" in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ TABLE OF CONTENTS GLOSSARY OF TERMS AND ABBREVIATIONS FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q contains forward-looking statements that involve risks and uncertainties. All statements,other than statements of historical facts, that are included in this report, or made in presentations, in response to questions or otherwise,that address activities, events or developments that may occur in the future, including (without limitation) such matters as activitiesrelated to our financial or operational projections, capital allocation, capital expenditures, liquidity, dividend policy, business strategy,competitive strengths, goals, future acquisitions or dispositions, development or operation of power generation assets, market andindustry developments, and the growth of our businesses and operations, including potential transactions with large load facilities atour nuclear and natural gas plants (often, but not always, through the use of words or phrases such as "intends," "plans," "potential,""will likely," "unlikely," "believe," "expect," "anticipated," "estimate," "should," "could," "may," "projection," "forecast," "target,""goal," "objective," and "outlook"), are forward-looking statements. Although we believe that in making any such forward-lookingstatement our expectations are based on reasonable assumptions, any such forward-looking statement involves uncertainties and risksthat could cause our actual results to differ materially from those projected in or implied by such forward looking statement. Any suchforward-looking statement is qualified in its entirety by reference to the discussion in (i) Part I, Item 1A.Risk Factorsand Part II, Item7.Management's Discussion and Analysis of Financial Condition, and Results of Operationsin our 2025 Form 10-K, and (ii) Part I,Item 2Management's Discussion and Analysis of Financial Condition, and Results of Operationsin this quarterly report on Form 10-Q. Any forward-looking statement speaks only at the date on which it is made, and except as may be required by law, we undertakeno obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflectthe occurrence of unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predictthem. In addition, we may be unable to assess the impact of any such event or condition or the extent to which any such event orcondition, or combination of events or conditions, may cause results to differ materially from those contained in or implied by anyforward-looking statement. As such, you should not unduly rely on such forward-looking statements. PART I. FINANCIAL INFORMATION VISTRA CORP.CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) (Millions of Dollars, Except Share Data) VISTRA CORP.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) (Millions of Dollars) VISTRA CORP.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) (Millions of Dollars) See Notes to Condensed Consolidated Financial Statements6 VISTRA CORP.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1