Summer Energy Holdings, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 19, 2020 at 03:46 pm EST
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Summer Energy Holdings, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced sales was USD 57.665 million compared to USD 54.696 million a year ago. Operating loss was USD 1.195 million compared to USD 2.907 million a year ago. Net loss was USD 2.046 million compared to USD 3.364 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.11 a year ago. For the nine months, sales was USD 139.054 million compared to USD 130.021 million a year ago. Operating loss was USD 2.469 million compared to USD 4.379 million a year ago. Net loss was USD 4.837 million compared to USD 5.619 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.18 a year ago.
Summer Energy Holdings, Inc. operates through its wholly owned subsidiaries Summer Energy, LLC (Summer LLC), Summer Energy Midwest, LLC (Summer Midwest), and Summer Energy Northeast, LLC. Summer LLC is a retail electric provider in the state of Texas under a license with the Public Utility Commission of Texas (PUCT). Summer LLC procures wholesale energy and resells to commercial and residential customers. The Company provides electricity to residential and all size commercial customers in the restructured retail energy market. Summer Northeast is engaged in serving electric load to both residential and commercial customers in the Northeastern United States and holds licenses in Massachusetts and New Hampshire. Summer Midwest provide billing, collections, back-office service, including supply and scheduling services, customer service and accounting services.
SUMMER ENERGY HOLDINGS, INC. 
