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Vistra Energy narrows net loss in Q2'17

Vistra Energy Corp. on Aug. 4 reported adjusted EBITDA of $345 million for second quarter 2017.

The company recorded a net loss of $26 million, or a loss of 6 cents per share, during the second quarter of 2017, compared to a net loss of $499 million in second-quarter 2016.

"Our operations performance initiative is well under way and, while we have not yet finalized review of the entire fleet, we already expect to capture approximately $28 million of incremental EBITDA in 2017 as a result of this process. This incremental $28 million of EBITDA translates to a full year run-rate in the range of $45 [million] to [$]50 million based on the reviews we have completed to date," Vistra CEO Curt Morgan said in a news release.

The company posted operating revenues of $1.3 billion for the second quarter of 2017, up from $1.2 billion in the prior-year period. Vistra's operating income was $53 million for the quarter ended June 30, 2017, compared to a loss of $112 million in the second quarter of 2016.

Liquidity increased to $2.0 billion in the second quarter due to increased available cash from operations.

Vistra Energy reaffirmed its 2017 adjusted EBITDA guidance range of $1.35 billion to $1.50 billion and an adjusted free cash flow range of $745 million to $925 million.