Vistra Energy (NYSE: VST) reported Q1 EPS of $0.44, $0.20 better than the analyst estimate of $0.24. Revenue for the quarter came in at $2.92 billion versus the consensus estimate of $2.86 billion.

• Delivered first quarter 2019 Ongoing Operations Adjusted EBITDA1 of $815 million and Net Income from Ongoing Operations of $238 million—results above consensus and in-line with management expectations for the quarter. Ongoing Operations Adjusted EBITDA results were nearly $240 million better than first quarter 2018 results pro forma for the merger with Dynegy as a result of realization of merger value levers, favorable realized prices, and higher retail gross margin quarter-over-quarter.
• Reaffirmed 2019 full-year Ongoing Operations Adjusted EBITDA and Ongoing Operations Adjusted Free Cash Flow before Growth (FCFbG) guidance ranges of $3.22 to $3.42 billion and $2.1 to $2.3 billion, respectively2, highlighting the company's significant earnings power and EBITDA to free cash flow conversion of approximately 66%.

"Vistra's strong first quarter results were above consensus and a clear indication of our focus on execution in 2019 and the effectiveness of the integrated model. Our teams continue to integrate Dynegy and capture merger synergy targets and value from our Operations Performance Initiative, as well as prepare for the close of the Crius acquisition," Curt Morgan, Vistra's chief executive officer, commented. "We also continue to execute our capital allocation plan, bolstered by our significant free cash flow generation, purchasing our stock at attractive price levels and significantly rotating our shareholder base while driving to our low-leverage target. We have added a few attractive tuck-in growth investments as well, while exhibiting financial discipline. We look forward to continuing to execute on our commitments and creating value for our shareholders."

For earnings history and earnings-related data on Vistra Energy (VST) click here.