Via Renewables, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 10:00 am EDT
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Via Renewables, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 109.75 million compared to USD 117.19 million a year ago. Revenue was USD 110.24 million compared to USD 118.86 million a year ago. Net income was USD 7.52 million compared to net loss of USD 0.881 million a year ago. Basic earnings per share from continuing operations was USD 1.49 compared to basic loss per share from continuing operations of USD 0.92 a year ago. Diluted earnings per share from continuing operations was USD 1.47 compared to diluted loss per share from continuing operations of USD 0.92 a year ago.
For the nine months, sales was USD 337.5 million compared to USD 343.59 million a year ago. Revenue was USD 333.49 million compared to USD 343.11 million a year ago. Net income was USD 15.31 million compared to USD 16.71 million a year ago. Basic earnings per share from continuing operations was USD 2.32 compared to USD 3.5 a year ago. Diluted earnings per share from continuing operations was USD 2.29 compared to USD 3.48 a year ago.
Via Renewables, Inc. is an independent retail energy services company. The Company provides residential and commercial customers in markets across the United States with an alternative choice for natural gas and electricity. The Company operates through two segments: Retail Electricity and Retail Natural Gas. In the Retail Electricity segment, the Company purchases electricity supply through physical and financial transactions with market counterparties and independent system operators (ISOs) and supplies electricity to residential and commercial consumers pursuant to fixed-price and variable-price contracts. In the Retail Natural Gas segment, the Company purchases natural gas supplies through physical and financial transactions with market counterparties and supply natural gas to residential and commercial consumers pursuant to fixed-price and variable-price contracts. The Company operates in about 105 utility service territories across 20 states and the District of Columbia.