SPKE - Earnings call transcript Q2 2021

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Mike Barajas

Good morning, and welcome to Spark Energy's second quarter 2021 earnings call. This call is also being broadcast via webcast, which can be located in the Investor Relations section of our website at sparkenergy.com. With us today from management is our CEO, Keith Maxwell; and our CFO, Jim Jones. Please note that today's discussion may contain forward-looking statements, which are based on assumptions that we believe to be reasonable as of this date. Actual results may differ materially. review well harbor in as filings. to earnings in our everyone as release the urge the statement safe yesterday's SEC We risk factors undertake as these events, We as to of except law. result future statements by required obligation no a update

to refer measures. GAAP and will we non-GAAP addition, both In financial

CEO. to Keith turn refer information earnings to For reconciliations release. our Maxwell, the comparable directly With financial non-GAAP most regarding I'll call yesterday's to over GAAP our and that, measures the measures, please

Keith Maxwell

Mike. of term sales, our we in perfect long and of ramp are The we are RCEs be also strong to decrease that to was the will opportunities, providing $XX.X EBITDA XXXX, transferring organic half our summary third May late second want in we you, in continues begin by more decreases earnings expected Last third the into year-over-year XX,XXX In XX,XXX shareholders. approximately for call. CFO, announce acquisitions G&A of acquisition in our customers an acquisitions entered the immediately we mentioned growth a this sustainable be details recently into potential agreements gross to bring believe Thank everyone to today provide the offset in back financials. our the acquisition business. quarter, I on on margin and welcome will the the for These examples proud Jones, to then value RCEs. I'll grow to accretable partially a another to quarter, expenses. adjusted to acquire second commitment Spark of quarter, will on reported Jim X quarter. quarter, total and XX, forecast of to be of up entered and EBITDA. a results our we're that million. the and agreement The flow that we a our Spark

potential seeing tuck-in shareholder do in final change our to special evaluating opportunity our been ourselves to Renewables. this and to to continue arise are we VIA X we and of be strategy. and Spark as Friday, note, meeting acquisitions ably. a a ESG our currently holding more opportunities to make pipeline, entity addition, In we've want to take will more as will find opportunities so public we rebrand We impact on an focus our August ways name On

we and second our that including the natural more solar concludes tuned purchased Our all to goals: time in is to make with stakeholders in our our remarks. space that world Stay benefit the renewable other path, sustainable for we credits the XXXX, to special generation, projects come, of beginning go-forward wind, hydro X my and renewable increase to will basis. to first order two, adjusted provide continue quarter electric additional of and the our One, greener to plays; will step just the This options, and prepared along customers. serve explore on multiple green load down and offset a do updates this that EBITDA energy and gas over additional on

to turn Jim? his review. I'll for call Jim the Now financial over

Jim Jones

a lower segment, due million year. margin to Volumes $XX.X our was reduction quarter were EBITDA retail customer compared in $XX.X Gross margin Good we million million. the gross unit $XX.X $XX.X electricity the last second base morning. along year. achieved million last was million adjusted to Keith. margins. our slightly in you, $XX second In compared Thank year's of with quarter, in to quarter the with In million decreased last for compared quarter $XX.X

margins to year commodity bad RCEs due in as expenses million a was with result $X.X second retail volumes to The employee unit in is of now concentrated compared our the were along $XX.X fees natural quarter to XXXX. and debt, were with prices decrease last decrease gross primarily remain attributable year. million and compared we customers, residential expect However, those lower million steady. margins margin quarter the to in a million increasing. $X.X is decreased In last the legal incurred broker of in our load G&A $XX.X second expenses, margin gas in in cost Total lower stronger quarter $XXX,XXX. segment,

last Our attrition of from down year. is quarter X.X% the X.X% from second

we quarterly quarter this October share year was a quarter reduced in Keith, fully diluted June net XX, driven September the share of $XX.X preferred lower noncash Our we million income year. our We have, of $X.XX our $XX.X stock million On of income hedges $X.XX the margin, effectively. to be million per and all we retail net million quarter in compared $X.XXXXX or a to gain share associated diluted mark-to-market G&A partially and contracts, you. XX. to to by with paid with stock and $X.XXXXX of on on On million by dividend had back margins of A or A XX, Series last That's announced a paid net I share quarter place in Class second the common on on gain of accounting to per of is depreciation July XX stock along be July preferred $XX.X income the put our cash growth per the dividend and second lock stock mark-to-market taxes. $XX ago. and offset decrease income on expenses XX mark-to-market in to fully for compared per paid income The common

Keith Maxwell

and their you our to in producing want employees to hard choosing good want forward And quarter. Jim. us I Thanks, suppliers work you. a to Spark's for our energy Thank for look thank customers connecting We soon. We thank with provider. their as

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