VIA - Earnings call transcript Q4 2021

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Operator

Good morning, ladies and gentlemen. Welcome to the Via Renewables Incorporated, Fourth Quarter 2021 earnings conference call. My name is Paul and I will be your Operator for the call today. At this time, all participants are in a listen-only mode. If anyone should require Operator assistance during the conference, [Operator Instructions].

conference will recorded Renewables be this and replay website. reminder, call this posted a is for being purposes, As on Via Mr. I conference to like to would turn now over the Rabalais Stephen Renewables. Via with Please go ahead.

Operator

quarter will anyone being and in for I Stephen Via the replay is gentlemen. like this As a conference you, will participants [Operator be name the to and the Inc, Rabalais turn call. this on call Good morning, Renewables. Thank Renewable should Operator sir. assistance XXXX reminder, a Mr. recorded and Via for conference Instruction] over Welcome to would conference I ladies Please earnings Donna are purposes, with posted If require go your website. Via Operator Inc. listen-only to now Renewables ahead. mode. fourth be is All My today.

Stephen Rabalais

from GAAP financial as as result by as our in we required will morning. the statement to yesterday's Renewables, This factors webcast, earnings you. in We to in results addition, located call to we may well us to which obligation Please Maxwell, harbor filings. Barajas. Thank section these Keith our safe the also Quarter Call. viarenewables.com. discussion and With differ assumptions which of CEO risk being Actual is and measures. Welcome good future reasonable our of Mike law. management, this broadcast undertake that no date. everyone on release, be via the that contain based of our materially. non-GAAP is We forward-looking except CFO, events, update review Investor XXXX be Earnings website, both a to And urge are today's may Via statements, And statements SEC refer Relations believe as can note at Fourth as today

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

W. Keith Maxwell III

call. I Thank year by a want our you, providing a liquidity. Not Last Stephen. on to was was results be earnings testament more of CFO, and and Mike full a to provide everyone summary in renewable financials. XXXX, Via year those majority then to only I'll begin and today's will weather have the Barajas details flexibility welcome able in significant our since we platform. these it first were the customers us been presented, COVID to operationalized storm able Despite quarter, of but the several the complete winter Erie, team the to book successfully and on-boarded the presented our acquisitions. limitations transactions customer loss our

an are future included the group support. G&A for health their significantly line continued bottom which was reduce our able line. to working our again extend and our acquisition. October, capital partnership to contribute facility, to which you Thank In Via able and our their of amend for to We acquisition bank

efforts, in adjusted decrease experience our million XXXX. Finally, named represents team had on two EBITDA combined of out our decades in These and carry direct executives us achieving a impact compliments to due XXXX retail sustainability customer from we lead goal. with $XX.X This expense and our acquisition higher book lowered is debt a savings by decrease and to year prior the up prices. in energy smaller margin The compression ramped from offset collection costs. bad reduced customer legal our which

channels on to organic we up ramping remain we book. sales and our growing our into move are focused As XXXX, committed customer

to purchase to renewable are will and customers credits continue natural XXX% load. We to having book dedicated gas electric our offset and a green

our business. continue services We our offerings energy to sustainability and explore complement expanding that

to shareholders. continue tuck-in term potential our call Mike? will I'm And in sustainable growth value over are review. drive acquisition we his Mike financial to going opportunities so we'll and for addition, long this for to the and do XXXX.We turn with In evaluating that, actively believe

Mike Barajas

to Keith. In we a margin decrease million adjusted fourth $XX.X fourth for achieved compared EBITDA, morning. to Retail XXXX, full-year $XX.X EBITDA in margin compared expenses. to million adjusted XX% million primarily G&A the with XXXX. declines Thank of year. last a And Good quarter margin fourth XXXX, quarter retail reducing $XXX.X ended we million due for gross in margin while $XXX.X in was $XX gross of at million gross the million were million. $XX.X year-over-year. in XXXX, G&A you, last ended by The retail Full-year million prices. fewer able decrease in offset energy to was portfolio. The our in quarter by our to decreases in margin We gross for due by $XXX.X EBITDA lower compression a compared overall skyrocketing gross at decrease offset saw year's margin quarter-over-quarter, adjusted compared $XX.X our partially as to customers was expenses

due XXXX end expenses, Our in year acquisitions. XXX,XXX $XX.X broker and $XX.X book decreased legal as XXXX We in from debt, fourth-quarter of on bad to XXX,XXX G&A fees. result ended to XXXX the customer the in collections several at with from a reduced up reductions million RCEs, million of

was For million storm prior-year. decreased Interest expense bottom decreases in primarily XXXX to winter Income year million the in X.X% fell for in line. of million spent to in acquisition in $X.X customer by $XX.X.Million $X.X our because $X.X we costs driven the tax to Meanwhile, expense our year, average in customer for million the $X.X monthly million rates. the compared from [Indiscernible] year's from to impact benchmark XXXX, XXXX $X.X year. XXXX

mark-to-market a a included million $X.X Income of Our Net in $XX.X year million Income Net with XXXX, a the which million for $XX.X to gain. mark-to-market million loss gain compared $X.X was

share common dividend share $XX.XXX you, balance quarter March of XXth and stock our on on That's of have. and our our On the we Keith. and April preferred A I had net total quarterly announced debt all $XX.X cash paid 'XX, liquidity million fourth to per a be per January respectively. at paid On our Class million of we on dividend stock, of $XXX.X XXth, sheet, Back respectively. preferred A we $XX.XXX December at And of January XXth, common Looking in to our XXXX. XXth Series stock. year-end stock

W. Keith Maxwell III

proud strong as our at We're their here about to Mike. for continue you. the you the excited the the to business, focus to with market the mass thank connecting and provider. for everyone we in business. they've choosing to work Via explore I I 'XX, year. our and of products in success while employees for course Renewables our Thanks, on their excited offer and over core work customers want look thank Thank put new about for to energy our future talk I'm us last and to We're increasing our will and next producing call. and services quarter, good hard a year, want the suppliers on a forward Via of

End of Q&A

and gentlemen your participation in This today's and for thank Renewables. you Ladies concludes interest event. Via

and rest You your your lines, at may day. disconnect log enjoy webcast time the off of the this

W. Keith Maxwell III	Chief Executive Officer
Mike Barajas	Chief Financial Officer
Stephen Rabalais	Senior Manager, Financial Planning and Analysis

Via Renewables (VIASP) 3 Mar 222021 Q4 Earnings call transcript