Shares of Vistra Get Hammered on Texas Storm Estimates
Shares of independent power producer Vistra (NYSE: VST) are down 20.9% as of 12:15 p.m. EST today. The sharp drop in share price comes after management released its initial estimate for the costs it will incur from winter storm Uri earlier this month.
In conjunction with the company's fourth-quarter and full-year 2020 earnings release, management gave some initial estimates for the financial impact from the recent Texas winter freeze. While management said that it has not completed the final tally, the current estimate is a financial hit between $900 million and $1.3 billion for the 2021 fiscal year.
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Source Fool.com
