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Vistra Energy reports adjusted EBITDA of $368M post-TCEH bankruptcy

Vistra Energy Corp. on March 30 reported adjusted EBITDA of $368 million for Oct. 3, 2016, through Dec. 31, 2016.

The Dallas-based company recorded a net loss of $163 million during the same period. Adjusted free cash flow for the same period was $147 million, according to the company.

Vistra Energy adopted a fresh-start accounting after it was rebranded from TCEH Corp., which emerged from Chapter 11 bankruptcy Oct. 3, 2016, resulting in Vistra Energy becoming a new entity for financial reporting purposes. As a result, Vistra Energy's 2016 results are reported for TCEH for the period from Jan. 1, 2016, to Oct. 2, 2016, and for Vistra from Oct. 3, 2016, to Dec. 31, 2016.

For TCEH's reporting period, the company reported adjusted EBITDA of $1.23 billion and net income of $22.85 billion. The adjusted free cash flow for the period totaled $739 million.

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. The company expects 2017 adjusted net income in the range of $4 million to $8 million.

For the full year 2016, the company had $843 million in cash and cash equivalents with $131 million in available letter-of-credit capacity under its term loan C facility and $860 million available under its revolving credit facility, which remained undrawn as of the end of 2016.