Vistra Energy Corp. (NYSE:VST) Q1 2020 Earnings Conference Call - Final Transcript

May 05, 2020 • 08:00 am ET


Vistra Energy Corp. (NYSE:VST) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Vistra Energy First Quarter 2020 Earnings Call.

[Operator Instructions]

I would now like to hand the conference over to your speaker today, Molly Sorg, Vice President of Investor Relations. Thank you. Please go ahead.

Molly Sorg

Thank you, and good morning, everyone.

Welcome to Vistra's investor webcast covering first quarter 2020 results, which is being broadcast live from the Investor Relations section of our website at

Also available on our website are a copy of today's investor presentation, our Form 10-Q and the related earnings release. Joining me for today's call are Curt Morgan, President and Chief Executive Officer, and David Campbell, Executive Vice President and Chief Financial Officer.

We have a few additional senior executives available to address questions in the second part of today's call as necessary. Before we begin our presentation, I encourage all listeners to review the safe harbor statements included on Slides 2 and 3 in the investor presentation on our website that explain the risks of forward-looking statements, the limitations of certain industry and market data included in the presentation and the use of non-GAAP financial measures. Today's discussion will contain forward-looking statements, which are based on assumptions we believe to be reasonable only as of today's date. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected or implied.

We assume no obligation to update our forward-looking statements. Further, our earnings release, slide presentation and discussions on this call will include certain non-GAAP financial measures. For such measures, reconciliations to the most directly comparable GAAP measures are provided in the earnings release and in the appendix to our investor presentation.

I will now turn the call over to Curt Morgan to kick off our discussion.

Curtis A. Morgan

Thank you, Molly. And good morning to everyone on the call.

As always, we appreciate your interest in Vistra, especially during these extraordinary times. First and foremost, the Vistra family sends our heartfelt thoughts and prayers to those adversely impacted by the COVID-19 virus.

We know the Northeast US has been hardest hit and many of you on the call may have been affected. As tough as it is, there is hope, as I am convinced that we will get through this and we will be better than ever. I never thought I'd be hosting an earnings call from my home with our management team dispersed across the North Texas metroplex.

And yet, that is where we find ourselves today. These are challenging times as we face the highly disruptive COVID-19 disease, which has already created unprecedented harm to society, threatening the health of not only the population, but of our economy and businesses as well. Now more than ever, I am proud to lead a company that is providing such an essential service to society, the electricity that powers our lives. Roughly 3,000 power plant team members at Vistra have no choice but to go to