How did Vistra's expenses change over past quarters?

Vistra's expenses have shown significant variations over the past quarters. Here's a detailed analysis:

1. Fuel, Purchased Power Costs, and Delivery Fees: These expenses have decreased from $7.6 billion in the third quarter of 2023 to $5.5 billion in the third quarter of 2024, representing a decrease of approximately 3.9%.
2. Operating Costs: There has been a substantial increase in operating costs from $1.7 billion in the third quarter of 2023 to $2.4 billion in the third quarter of 2024, indicating a rise of about 41.1%.
3. Selling, General, and Administrative Expenses: These expenses have also increased from $1.3 billion in the third quarter of 2023 to $1.6 billion in the third quarter of 2024, reflecting a growth of approximately 23%.
4. Quarterly Expenses Over the Past Year: Vistra's quarterly expenses for the past year are not available. However, the company's 10-Q filing for the quarter ended September 30, 2024, reveals operating revenues of $6,288 million with a net income of $1,837 million for that quarter. This contrasts with the previous year's same quarter, where revenues were $4,086 million and net income was $502 million.
5. Trends and Analysis: Vistra's expenses have generally been on the rise, except for the fuel-related costs that have seen a decrease. The increase in operating costs and selling, general, and administrative expenses suggests that the company may be investing in growth or facing inflationary pressures. The significant year-over-year revenue and income increases in certain quarters, as seen in the third quarter, indicate effective cost management and operational improvements by the company.

In summary, while some expenses have decreased, particularly in the area of fuel costs, other operational and administrative expenses have increased, reflecting a complex mix of cost management strategies and external factors such as market conditions and inflation.