Vistra Energy Corp. on Feb. 26 booked a fourth-quarter 2017 net loss of $579 million, or a loss of $1.35 per share, according to a Form 10-K filed Feb. 26. That compared with a net loss of $163 million, or a loss of 38 cents per share, in the fourth quarter of 2016.
Operating revenues for the fourth quarter of 2017 dropped to $944 million, from $1.19 billion in the same quarter of 2016. Meanwhile the company booked an operating loss for the quarter ended Dec. 31 of $462 million, compared to an operating loss of $161 million in the fourth quarter of 2016.
Vistra reported total available liquidity as of Dec. 31, 2017, of $2.33 billion, a $244 million increase from fourth quarter 2016, primarily due to proceeds from settling a contract related to the Sandow plant.
For full-year 2017, the company reported adjusted EBITDA of $1.46 billion and adjusted cash free flow of $831 million.
The company posted a full-year net loss of $254 million, or a loss of 59 cents per share, attributing the results primarily to a $451 million write-down of deferred tax asset balance as a result of the recent federal tax reform's reduction in the tax rate, and a $206 million charge related to retiring three coal plants.
Vistra's full-year 2017 operating revenues were $5.43 billion, while operating income was $198 million.
The company said it plans to provide updated 2018 earnings guidance following closure of its merger with Dynegy Inc.