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Energy & Utilities · Week of Nov 2, 2026

Q3 earnings bring buybacks and restructurings: the week in energy

Third-quarter earnings dominated the week, with Vistra, Hut 8 and Core paired with buybacks and Sempra and Calumet using asset sales and restructurings.

· Times Beats newsroom

Third-quarter results made up most of the week's releases. Vistra reported Ongoing Operations Adjusted EBITDA of $2,378 million and initiated 2027 guidance, Sempra posted adjusted earnings of $917 million and said Oncor expects its base capital plan to rise about 20%, and TORM raised the lower end of its 2026 guidance. Capital returns were a recurring feature: Vistra authorized an additional $1.5 billion of share repurchases, Hut 8 raised its authorization to $1.0 billion, Core Natural Resources returned $90 million in the quarter and TORM approved a USD 1.35 per share interim dividend.

Balance sheets and portfolios were also being reshaped. Calumet says it has retired about $265 million of debt since July and separately restructured its Warburg Pincus agreement to take full ownership of Montana Renewables, LLC. Sempra expects its sale of a 45% stake in Sempra Infrastructure Partners to KKR affiliates to close within two weeks, Vistra closed its Cogentrix Energy acquisition, and NextEra Energy and Dominion Energy accepted most conditions proposed by Virginia regulators for their combination, which they expect to close in the second half of 2027.

  1. Sempra

    Sempra Reports Strong Third-Quarter 2026 Results

    Sempra reported third-quarter 2026 GAAP earnings of $877 million, or $1.34 per diluted share, and adjusted earnings of $917 million, or $1.40, updated 2026 GAAP EPS guidance to $7.41 to $8.41 and affirmed 2027 EPS guidance of $5.10 to $5.70. The company says Oncor projects its 2027-2031 base capital plan to rise about 20% and that the sale of a 45% interest in Sempra Infrastructure Partners to KKR affiliates is expected to close in the next two weeks.

  2. Calumet, Inc.

    Calumet Reports Third Quarter 2026 Results

    Calumet reported third quarter 2026 net income of $273.3 million, down from $313.4 million a year earlier, while Adjusted EBITDA with Tax Attributes rose to $347.2 million from $92.5 million. The company says it has retired approximately $265 million of debt since July, including the redemption of $150 million of 2028 Notes on October 25, 2026.

  3. Core Natural Resources

    Core Natural Resources Reports Third Quarter 2026 Results

    Core Natural Resources reported third quarter 2026 net income of $9.0 million, or $0.18 per diluted share, on revenues of $1.1 billion, and returned $90 million to stockholders. The company says it secured 29.4 million tons of new sales commitments and declared a $0.10 per share dividend payable December 15, 2026.

  4. Hut 8 Corp.

    Hut 8 Reports Third Quarter 2026 Results

    Hut 8 reported third quarter 2026 revenue of $71.1 million and net income of $189.5 million, including $413.8 million of primarily unrealized gains on digital assets. The company signed a second 352 MW IT lease at Beacon Point that it says represents about $9.8 billion in expected base-term contract value, closed a $1.07 billion revolving credit facility and raised its repurchase authorization to $1.0 billion.

  5. Vistra Corp

    Vistra Reports Third Quarter 2026 Results

    Vistra reported third quarter 2026 net income of $1,140 million and Ongoing Operations Adjusted EBITDA of $2,378 million, up from $1,581 million, which it attributes mainly to higher energy and capacity prices, the Lotus plants and the return of Martin Lake Unit 1. The company narrowed 2026 guidance to $7.1 billion to $7.5 billion, initiated 2027 guidance of $7.7 billion to $8.5 billion and authorized an additional $1.5 billion of share repurchases.

  6. NextEra Energy, Inc.; Dominion Energy

    NextEra Energy and Dominion Energy strengthen historic Virginia benefits package with additional customer and financial safeguards

    NextEra Energy and Dominion Energy filed rebuttal testimony with the Virginia State Corporation Commission, accepting 101 of 117 proposed conditions as proposed and 13 with modifications. The companies say their commitments include four years of shareholder-funded residential bill credits, $100 million for EnergyShare and 1,000 new jobs, and they expect the deal to close in the second half of 2027.

  7. Torm PLC

    TORM plc Q3 2026 Results, Dividend Distribution, and Financial Outlook 2026

    TORM reported third-quarter 2026 net profit of USD 199m, up from USD 78m, and approved an interim dividend of USD 1.35 per share payable on 02 December 2026. The company raised the lower end of its full-year guidance, now USD 1,750 - 1,900m for TCE earnings, and agreed after quarter-end to acquire eight LR2 newbuildings through a 50/50 joint venture.

  8. Calumet, Inc.

    Calumet Announces CMR Asset Lease Details and Revised Agreement with Warburg Pincus

    Calumet said its subsidiary Calumet Montana Refining entered a long-term asset lease with Montana Renewables expected to provide about $30 million in annual lease income, and that Warburg Pincus will exchange its 13.17% stake in Montana Renewables Holdings for warrants on up to 8% of its common equity. The company says the moves support its MaxSAF expansion toward about 200 million gallons of annual Sustainable Aviation Fuel production by year-end 2028, with its equity interest in MRL rising to 100%.

This roundup is written with AI assistance from the press releases listed above, using only what they state. The releases are the companies' own announcements, not Times Beats reporting.