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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.

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Via Renewables reported a $4.9 million net loss in Q3 2022, compared to a $34.7 million net income in Q3 2021. The company achieved $15.1 million in Adjusted EBITDA, down from $22.0 million the previous year, primarily due to decreased marks on hedges and increased customer acquisition costs. Despite challenges, gross profit stood at $16.6 million with a retail gross margin of $30.5 million. Total liquidity is reported at $67.7 million, and the company plans to leverage rising energy prices to boost competitiveness.

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Via Renewables, Inc. (NASDAQ:VIA) will present its third quarter 2022 financial results in a conference call on November 3, 2022, at 10:00 AM Central. Interested investors can access the live webcast on the company's Investor Relations website. Via Renewables, founded in 1999, provides energy services in 19 states under brands like Spark Energy and offers various product choices, including green options. The company emphasizes stable energy costs and alternative choices for its customers.

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Via Renewables has declared a quarterly cash dividend of $0.18125 per share for its Class A Common Stock, amounting to an annualized dividend of $0.725 per share. This dividend is set for payment on December 15, 2022 to shareholders of record as of December 1, 2022. Additionally, the company announced a dividend of $0.666071 per share on its 8.75% Series A Preferred Stock, to be paid on January 17, 2023 for those on record as of January 1, 2023.

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Via Renewables reported its second-quarter 2022 financial results, achieving $12.5 million in net income and $13.3 million in adjusted EBITDA. The company noted a gross profit of $35.4 million and a retail gross margin of $23.7 million. Total RCE count reached 368,000 with a monthly attrition rate of 3.1%. The firm secured a new $195 million credit facility, enhancing its capital structure. However, net income declined from $24.8 million year-over-year, attributed to lower mark-to-market hedges and rising energy costs.

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Via Renewables has declared a quarterly cash dividend of $0.18125 per share on its Class A Common Stock, amounting to an annualized $0.725 per share. This dividend is set to be paid on September 15, 2022 to shareholders on record by September 1, 2022. Additionally, the Board announced a quarterly cash dividend of $0.568125 per share on the Series A Preferred Stock, payable on October 17, 2022 to holders of record by October 3, 2022.

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Via Renewables has announced plans to present its Q2 2022 financial results on August 4, 2022, at 10:00 AM Central. The event will be accessible via a live webcast on the company's Investor Relations website. With operations across 19 states and providing services under renowned brands like Spark Energy and Verde Energy, Via Renewables offers alternatives in natural gas and electricity. Investors are encouraged to regularly check the website for updates.

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Via Renewables (NASDAQ: VIA, VIASP) announced the closing of a $195 million senior secured credit facility to replace its existing credit line of $227.5 million, maturing October 2023. This new facility includes a $55 million accordion and provides more flexible terms, enabling the company to pursue growth opportunities and acquisitions. The facility is managed by Woodforest National Bank and BOKF, NA. Executives expressed gratitude for the support of lenders, emphasizing the facility's role in enhancing operational flexibility and shareholder value.

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Via Renewables reported a net income of $31.0 million for Q1 2022, a significant turnaround from a net loss of $(27.6) million in Q1 2021. The company achieved Adjusted EBITDA of $10.8 million and Retail Gross Margin of $28.8 million, both lower than the previous year due to rising commodity prices. Total RCE count rose to 387,000, and average monthly attrition improved to 3.7%. Liquidity stood at $96.0 million. The company announced dividends of $0.18125 per share for Class A common stock.

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Via Renewables (NASDAQ:VIA) plans to announce its first quarter 2022 financial results during a conference call on May 5, 2022, at 10:00 AM Central (11:00 AM Eastern). A live webcast will be available through the Investor Relations section of its website, followed by a 12-month archived replay.

Founded in 1999, Via Renewables operates across 19 states and serves 101 utility territories, offering customers various energy solutions including green product alternatives.

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Via Renewables has announced a quarterly cash dividend of $0.18125 per share for its Class A Common Stock, equating to an annualized dividend of $0.725. This dividend will be distributed on June 15, 2022, to shareholders on record as of June 1, 2022. Additionally, a dividend of $0.476393 per share has been declared for the Series A Preferred Stock, payable on July 15, 2022, to holders on record by July 1, 2022. Via Renewables operates across 19 states in the U.S., serving 101 utility territories.

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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
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United States of America
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