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.
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.
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.
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.
Via Renewables (NASDAQ:VIA, VIASP) reported financial results for 2021, demonstrating significant challenges and strategic responses. For Q4 2021, the company reported a net loss of $(35.8) million, with Adjusted EBITDA of $11.6 million and Retail Gross Margin of $25.2 million. Annually, net income was $(4.0) million, down from $68.2 million in 2020, impacted by a $64.4 million loss from winter storm Uri. Total liquidity stands at $122.2 million, with plans to ramp up organic growth and product offerings in 2022, aiming for a 100% green energy portfolio.
Via Renewables (NASDAQ:VIA) announced plans to present its full year and Q4 2021 financial results in a conference call on March 3, 2022, at 10 AM Central. The webcast will be accessible on the company's Investor Relations website, with an archived replay available for twelve months.
Founded in 1999 and headquartered in Houston, Via Renewables provides energy services under brands like Spark Energy and Major Energy, serving 100 utility territories across 19 states.
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 will be paid on March 15, 2022 to shareholders on record as of March 1, 2022. Additionally, a dividend of $0.546875 per share has been declared on the Series A Preferred Stock, with an annualized amount of $2.1875 per share, payable on April 15, 2022 to holders recorded by April 1, 2022.
Via Renewables reported its financial results for Q3 2021, showing a net income of $34.7 million, up from $22.6 million in Q3 2020. Adjusted EBITDA decreased to $22.0 million from $27.7 million year-over-year, while Retail Gross Margin fell to $30.9 million, down $16.1 million due to fewer customers. The company’s total liquidity stood at $134.5 million. A dividend of $0.18125 per share on Class A common stock was declared, payable on December 15, 2021.
Management expects further customer growth as acquisitions are fully integrated.
Via Renewables (NASDAQ:VIA) will present its third quarter 2021 financial results on November 4, 2021, at 10:00 AM Central. The presentation will be available via a live webcast on the company's Investor Relations website, along with an archived replay for twelve months. Founded in 1999 and headquartered in Houston, Texas, Via Renewables operates in 19 states, providing customers with natural gas and electricity alternatives through brands like Spark Energy and Verde Energy. Investors are encouraged to regularly check the website for updates and disclosures.
Via Renewables (NASDAQ:VIA) declared a quarterly cash dividend of $0.18125 per share on its Class A Common Stock for Q3 2021, with a payment date set for December 15, 2021. This translates to an annualized dividend of $0.725. Additionally, a dividend of $0.546875 per share on its Series A Preferred Stock was announced, with a payment date of January 17, 2022. The company has also amended its senior secured credit facility, extending it to October 13, 2023, and its $25 million subordinated debt facility to January 31, 2025, enhancing liquidity for new sustainable energy opportunities.
Spark Energy, Inc. has announced an overwhelming approval from shareholders to change its name to Via Renewables, Inc. (NASDAQ:VIA). This rebranding is accompanied by the launch of a new Investor Relations website, which outlines Via's commitment to sustainability and innovation. The trading ticker for Class A common stock will change to VIA, effective August 10, 2021. The Company aims to enhance its offerings and serve a wider customer base through its established brands across various states.
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