VIA - Earnings call transcript Q1 2022

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Operator

Good morning, ladies and gentlemen. Welcome to the Via Renewables, Inc.

First Quarter 2022 Earnings Conference Call. My name is Kyle, and I will be your operator for today. At this time all participants are in a listen only mode. Instructions]. [Operator

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

Stephen Rabalais

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

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

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

Keith Maxwell

CFO, million. will quarter, an today's more a call. of first financials. EBITDA summary we've the quarter, then you, the want Thank first everyone Mike of provide adjusted the begin I'll results Stephen. I Barajas, providing $XX.X by reported on welcome our earnings details In to for to and

channel. up the gas can The since first to Although our we also year-over-year commodity and to attributed compressed the have last our in to well. our have our of quarter both year. we're is as prices, decrease which a increased year, The In into on product systems, since the acquisition margins count is have is decrease the organic ramped looking growth. in attributed coming very XXXX, ramp which focused received and power protection margin Texas, sales search rising other which spend Via as and such higher has plan organic offerings channels gross in volume. XXXX, up we RCE exploring be grown smart to has sales We states expand been new aim home

decreased comparison the has attrition XXXX. our in to Additionally, quarter first of

to opportunities we'll continue so acquisition continue as and do evaluate tuck-in As potential opportunities, always, to these we arise.

Our goal prepared shareholders. to Mike is And concludes our to my our for and review. remarks. sustainable book long-term Mike? turn the That call for I'll financial grow now over drive his value

Mike Barajas

were unit we $XX.X lower compared last Gas first in margin our the morning. was of to in Thank an Electricity first to the margin the you, first quarter segments. achieved due Total the offset gross by to sales to in by G&A year, the $XX.X first and year. ramp driven volume. million quarter to last partially million This offset In million year. an was of margins in increase was in segment, expenses Keith. quarter lower $XX.X last EBITDA of $XXX,XXX year's Good million adjusted $XX.X and million $XX.X quarter first with our the Retail last last reserves, In cost $XX Retail marketing quarter for primarily compared was million higher XXXX gross increases of as In we segment, in expenses, million million employee gross margin $XX.X $XXX,XXX increasing Natural This compared the $XX.X quarter Retail slightly margins, $XX.X first was to in million compared in year-over-year. unit quarter to XXXX. year. RCEs first prices, our compared by quarter to attributable commodity compared expenses decrease volume were in in due $XX.X increase up million. also

attrition down our year-over-year. of from X.X% X.X% Additionally, is

you, by Our or XXXX. offset $X expense income mark-to-market stock, gain compared and diluted preferred to That's share On we our million the $X.XXXXX for I XXXX. our we net in on to $XX.X of to tax and year XXXX stock a million first bottom or quarter to common loss quarter million ago. stock preferred million of We the July of million of due be tax income $X.X in diluted $X.XXXXX XXXX had share stock to winter to paid compared quarter Uri's dividend Series of incurred storm per is impact fully a a of share our and million was increase with mainly paid Uri, quarter quarter the on first for $X.XX first all per for mark-to-market this $XX of on a cash expense fully on quarterly loss first in last storm paid per be net the Class XX, winter XXXX $X.XX $XX.X quarter $X.X of higher of of gain benefit dividends A the XX, April million Back year. loss respectively. On a XX in April a Keith. Income compared A March per due partially the a XX. to income common have. of to announced share $XX.X June The line to increased XX

Keith Maxwell

customers energy look I their to future to for thank to Via thank call. our provider. choosing us Thanks, Thanks. and as their supporting support. suppliers our dedication with for also Mike. and next you continued their care about connecting excited I want for forward and the growing to on Via, want We're employees our and

Stephen Rabalais	Senior Manager, Financial Planning and Analysis
Keith Maxwell	Chief Executive Officer & Chairman of the Board of Directors
Mike Barajas	Chief Financial Officer

Via Renewables (VIASP) 8 May 222022 Q1 Earnings call transcript