VIA - Earnings call transcript Q2 2022

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Operator

Good morning, ladies and gentlemen. Welcome to Via Renewables, Inc.'s Second Quarter 2022 Earnings Conference Call. My name is Donna and I will be your operator for today. [Operator Instructions] As a reminder: This conference call is being recorded for replay purposes, and this call will be posted on Via Renewable Inc.'s website. I would now like to turn the conference over to Mr. Renewable Via with Rabalais Inc. Stephen Please go ahead.

Stephen Rabalais

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

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

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

Keith Maxwell

the of commodity count to is mainly acquisitions million prices due by several year-over-year book review. Winter second agent, close with bank XXXX. decrease over acquisition group a related provides quarter Uri. new flexibility, rising the able our million That want then the on you, compared to for lower We this administrative and and million our RCE in $X.X of thank this In now National will CFO, a attrition the I'll second the tail turn to helping a XXXX the begin Mike Via financial increased $XX.X quarter summary year adjusted of Woodforest pleased million a close to will to of quarter, the initiatives. Thank and the by financials. I us EBITDA Via's to Storm And his position spend, reported in today's $XXX an was in of Barajas, customer our new Stephen. half the more XXXX, providing the at second The to along second achieve the to put in want second end We're facility. additional second credit to The our to facility offset of in everyone Bank; welcome customer earnings compared to facility. in concludes that, XXXX. the rest the on $XX.X us Mike? add-back announce on to details quarter. of Mike which operating call. strategic call prepared my total higher I'll quarter, results we remarks, with provide for attributed for Via

Mike Barajas

sales gross our prices gross compared driven million margin compared quarter second electricity slight Keith. million. and to quarter second adjusted due In with compared million lower in in by segment, increase last quarter $XX.X margins. million our In year. margin costs. to $X in for to million G&A margin increase to natural our volumes, offset compared second million million $XX.X year. This of in of second $XX.X was a in quarter Retail XXX,XXX in were retail $X.X last gas the received year unit expenses last you, increases was in we the This quarter we million to the the bad partially payroll XXXX. attributable to in second gross higher an credit $XX.X in to last was decrease achieved second XXX,XXX XXXX, Total were quarter $XX.X unit in second Thank quarter year's In marketing increasing $XX.X last million million morning. compared compared due $X.X by year-over-year. slightly quarter, of and Good $XX.X was the million year. debt volume RCEs EBITDA was retail tax $XX.X the to primarily the margins and higher commodity lower a of segment,

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

of G&A Our PURA to of income million from by million diluted expenses, net this offset net The compared income $XX income or XXXX. a million of our or ago. gain had for the mark-to-market in quarter fully the of a of a decrease share share quarter million of for diluted securitization reduced gross decrease per related the financing, compared to quarter income million ERCOT fully additional was to $X.XX $X.XX per We $XX.X second N gain $XX.X mark-to-market mark-to-market $XX.X related $X.X Subchapter to $X.X margin year a million along with is gains.

all expense million an our with per $X.X in the we of Keith. On we quarter XX, On $X.XXXXX $X.X to quarterly you, quarter be on be the Back share on XX dividends in July tax of of dividends XXXX income cash XX, October respectively. to stock, announced A have. per and on to common XX; paid our decreased common stock XXXX. I XX. preferred Lastly, second A to September of and second and June paid paid Class million preferred expense stock, share compared Series That's July on $X.XXXXXX stock,

Keith Maxwell

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

Operator

and Ladies concludes gentlemen, today's this event.

this the You may time, at of your disconnect lines day. your rest enjoy 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) 6 Aug 222022 Q2 Earnings call transcript