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Via Renewables, Inc. is an independent retail energy services company that provides residential and commercial customers in competitive markets across the United States with alternative choices for natural gas and electricity. The core retail energy business has remained strong, offering green energy options to hundreds of thousands of customers. Via Renewables is focused on expanding its positive impact in Texas and across the US by evaluating additional environmental, social, and governance projects. The company's key revenue is derived from the Retail Electricity segment, where it purchases electricity supply through physical and financial transactions and supplies electricity to consumers.
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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.
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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.
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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.
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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.
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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.
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Via Renewables declares quarterly cash dividend on Series A Preferred Stock
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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.
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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.
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Via Renewables, Inc. reported financial results for Q1 2023, with a net loss of $6.8 million and adjusted EBITDA of $18.8 million. The company achieved $14.4 million in gross profit and expanded retail gross margin to $40.3 million. Total RCE count increased to 339,000, and liquidity stood at $75.4 million. Via Renewables declared a dividend for Series A Preferred Stock but suspended the cash dividend on common stock. The company aims to enhance financial flexibility and prioritize shareholders' interests.
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FAQ
What is the current stock price of Via Renewables 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (VIASP)?
The current stock price of Via Renewables 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock (VIASP) is $21.32 as of November 8, 2024.
What is Via Renewables, Inc.?
Via Renewables, Inc. is an independent retail energy services company that offers green energy options to residential and commercial customers in competitive markets across the United States.
What is the core business of Via Renewables?
The core business of Via Renewables is providing alternative choices for natural gas and electricity to its customers.
Where does Via Renewables operate?
Via Renewables operates in 105 utility service territories across 20 states and the District of Columbia in the United States.
What are the key revenue segments of Via Renewables?
The key revenue segments of Via Renewables are Retail Electricity and Retail Natural Gas, with Retail Electricity contributing significantly to the company's revenue.
How does Via Renewables supply electricity to consumers?
Via Renewables purchases electricity supply through physical and financial transactions with market counterparties and ISOs, supplying electricity to residential and commercial consumers.
What is the focus of Via Renewables for future projects?
Via Renewables is evaluating additional environmental, social, and governance projects that align with its retail customers and stakeholders, aiming to expand its positive impact in Texas and across the US.
How does Via Renewables aim to grow organically?
Via Renewables targets organic growth by offering attractive products and services to customers and remains open to potential tuck-in acquisitions to enhance its business.
What are the financial highlights for Via Renewables in recent quarters?
For the recent quarter ended March 31, 2024, Via Renewables reported higher Net Income compared to the previous year. The company's performance was driven by various factors, including favorable market conditions and reduced expenses.
How has the merger impacted Via Renewables?
Following the completion of the merger, William Keith Maxwell, III, and his affiliates became the registered or beneficial owners of all issued and outstanding shares of the Surviving Corporation, resulting in the delisting of the Class A Common Stock.
What is the future outlook for Via Renewables?
Via Renewables aims to continue its business momentum by focusing on organic growth strategies, offering innovative products and services, and exploring potential opportunities for expansion.
Via Renewables, Inc. 8.75% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock
Nasdaq:VIASP
VIASP Rankings
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3.57M
0.02%
Utilities - Regulated Electric
Electric & Other Services Combined
United States of America
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