STOCK TITAN

Via Renewables, Inc. - VIA STOCK NEWS

Welcome to our dedicated page for Via Renewables news (Ticker: VIA), a resource for investors and traders seeking the latest updates and insights on Via Renewables stock.

Via Renewables, Inc. (NASDAQ:VIA) is a prominent independent retail energy services company, providing alternative choices for natural gas and electricity to both residential and commercial customers across competitive markets in the United States. Founded in 1999 and headquartered in Houston, Texas, Via Renewables operates in 103 utility service territories spanning 20 states and the District of Columbia.

With over 20 years of experience, Via Renewables' core retail energy business remains fiscally strong, predictable, and essential to modern life. The company offers green energy options to hundreds of thousands of customers, emphasizing environmental, social, and governance (ESG) projects that significantly impact their stakeholders and retail customers.

Via Renewables' services are categorized into two main segments: Retail Electricity and Retail Natural Gas. The Retail Electricity segment generates the bulk of the company’s revenue. This segment involves purchasing electricity supply through market counterparties and ISOs, then supplying it to consumers via fixed-price and variable-price contracts. These contracts ensure stable and predictable energy costs, with green product alternatives available.

Recent achievements highlight the company's robust financial performance. For the quarter ending June 30, 2023, Via Renewables reported a significant net income of $19.1 million, a stark increase from $12.5 million in the corresponding period of the previous year. The company also reported a gross profit of $45.5 million for the same quarter, driven mainly by an increase in Retail Gross Margin and effective hedging strategies.

Via Renewables continues to show resilience and growth, even during challenging periods. For instance, the company navigated one of the hottest summers on record in ERCOT thanks to its risk management policies and portfolio diversification. In the third quarter of 2023, the company recorded a net income of $14.7 million despite industry challenges.

The company’s strategic outlook includes enhancing its financial flexibility and managing market volatility. Via Renewables focuses on expanding its positive impact not only in Texas but also across the United States. The company’s expansion strategy is evident in its recent efforts to strengthen its balance sheet, pay down debt, and boost liquidity, ensuring long-term sustainable growth for shareholders.

In 2024, Via Renewables announced a significant merger agreement with Retailco, LLC, with a cash consideration that represents a substantial premium to the closing share price. This merger is expected to enhance the company's strategic positioning and financial stability, with the merger process projected to conclude by the second quarter of 2024.

Via Renewables is committed to providing stable and predictable energy costs with a strong emphasis on ESG initiatives, positioning itself as a key player in the retail energy sector.

Rhea-AI Summary
Via Renewables, Inc. declared a quarterly cash dividend of $0.76051 per share on its 8.75% Series A Preferred Stock. The dividend will be paid on July 15, 2024, to shareholders of record on July 1, 2024. The Series A Preferred Stock transitioned to a floating rate period starting April 15, 2022, with a new benchmark rate of Three-Month CME Term SOFR plus a tenor spread adjustment of 0.26161%. The Company suspended its common stock dividend.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
Tags
dividends
-
Rhea-AI Summary
Via Renewables, Inc. reports financial results for 2023, showing improvements in Net Income, Adjusted EBITDA, Gross Profit, and Retail Gross Margin. The company achieved $26.1 million Net Income and $56.9 million Adjusted EBITDA for the year. Fourth quarter results included a Net Loss of $(0.9) million, $13.3 million Adjusted EBITDA, $25.4 million Gross Profit, and $33.7 million Retail Gross Margin. Via Renewables maintained total liquidity of $116.0 million as of December 31, 2023, aiming for organic growth and potential acquisitions in 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.09%
Tags
-
Rhea-AI Summary
Via Renewables, Inc. (NASDAQ:VIA) to present full-year and fourth quarter 2023 financial results in a conference call and webcast on February 29, 2024. The live webcast can be accessed on Via Renewables Investor Relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.1%
Tags
conferences earnings
Rhea-AI Summary
Via Renewables, Inc. announced a quarterly cash dividend of $0.75960 per share on its 8.75% Series A Preferred Stock, to be paid on April 15, 2024. The floating rate period for the stock began on April 15, 2022. The dividend will be paid to holders of record on April 1, 2024. The company also specified the replacement benchmark rate following the end of Three-Month LIBOR's publication on June 30, 2023, as Three-Month CME Term SOFR, plus a tenor spread adjustment of 0.26161%. Additionally, the company suspended its common stock dividend.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.38%
Tags
dividends
-
Rhea-AI Summary
Via Renewables, Inc. (NASDAQ:VIA)(NASDAQ:VIASP) has announced a merger agreement with Retailco, LLC, for $11.00 per share, representing a 17.0% premium to the closing share price on December 29, 2023. Retailco, owned by TxEx Energy Investments, LLC, will acquire all of Via Renewables' Class A common stock, except for certain shares. The transaction is expected to close in the second quarter of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.15%
Tags
-
Rhea-AI Summary
Via Renewables, Inc. reported financial results for the third quarter of 2023, achieving $14.7 million in net income and $12.8 million in adjusted EBITDA. The company added approximately 24,000 RCEs in the quarter and reported a total RCE count of 337,000. Via Renewables also reported total liquidity of $98.8 million as of September 30, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
23.01%
Tags
Rhea-AI Summary
Via Renewables, Inc. plans to present its third quarter 2023 financial results in a conference call and webcast on November 2, 2023. A live webcast can be accessed from the Investor Relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.55%
Tags
conferences earnings
-
Rhea-AI Summary
Via Renewables declares quarterly cash dividend on Series A Preferred Stock
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.5%
Tags
dividends
-
Rhea-AI Summary
Via Renewables, Inc. reported $19.1 million in Net Income and $12.0 million in Adjusted EBITDA for Q2 2023. Total RCE count increased to 346,000. Total liquidity is $86.3 million. Gross Profit increased to $45.5 million. Retail Gross Margin increased to $30.7 million. The company declared a dividend of $0.75922 per share for Series A Preferred Stock. Via Renewables aims to strengthen its balance sheet and increase liquidity. Conference call to discuss results on August 3, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
28.61%
Tags
Rhea-AI Summary
Via Renewables, an independent retail energy services company, will present its second quarter 2023 financial results in a conference call and webcast on August 3, 2023. The webcast can be accessed from the Via Renewables Investor Relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.22%
Tags
conferences earnings

FAQ

What is the current stock price of Via Renewables (VIA)?

The current stock price of Via Renewables (VIA) is $10.995 as of June 13, 2024.

What is the market cap of Via Renewables (VIA)?

The market cap of Via Renewables (VIA) is approximately 35.5M.

What services does Via Renewables, Inc. provide?

Via Renewables, Inc. offers alternative choices for natural gas and electricity to residential and commercial customers in competitive markets across the United States. The company provides stable and predictable energy costs and green product alternatives.

Where is Via Renewables, Inc. headquartered?

Via Renewables, Inc. is headquartered in Houston, Texas.

What is Via Renewables' core business?

The core business of Via Renewables is retail energy services, focusing on providing natural gas and electricity through fixed-price and variable-price contracts.

How does Via Renewables, Inc. generate revenue?

The company primarily generates revenue through its Retail Electricity segment, which involves purchasing electricity supply through market counterparties and ISOs and supplying it to consumers.

What recent financial performance highlights Via Renewables' growth?

For the quarter ending June 30, 2023, Via Renewables reported a net income of $19.1 million and a gross profit of $45.5 million, driven by an increase in Retail Gross Margin and effective hedging strategies.

What are Via Renewables' key segments?

Via Renewables operates primarily through two segments: Retail Electricity and Retail Natural Gas, with the Retail Electricity segment being the main revenue driver.

What are the environmental initiatives of Via Renewables, Inc.?

Via Renewables focuses on environmental, social, and governance (ESG) projects that are complementary and impactful to their retail customers and stakeholders, offering green energy options to hundreds of thousands of customers.

What was the impact of the ERCOT summer on Via Renewables?

Despite the challenges of one of the hottest ERCOT summers on record, Via Renewables navigated successfully due to its proven risk management policies and portfolio diversification.

What strategic initiatives has Via Renewables undertaken recently?

Via Renewables is focused on enhancing financial flexibility, managing market volatility, and expanding its positive impact across the US. This includes strengthening its balance sheet, paying down debt, and boosting liquidity.

What is the significance of the merger agreement with Retailco, LLC?

The merger agreement with Retailco, LLC, announced in 2024, is expected to enhance Via Renewables' strategic positioning and financial stability, with a cash consideration representing a substantial premium to the closing share price.

Via Renewables, Inc.

Nasdaq:VIA

VIA Rankings

VIA Stock Data

35.54M
2.40M
25.72%
18.99%
0.94%
Utilities - Regulated Electric
Electric & Other Services Combined
Link
United States of America
HOUSTON