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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.
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.
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.
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.
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.
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.
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.
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