VIA - Earnings call 3 2023 | Via Renewables, Inc.

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Operator

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

Third Quarter 2023 Earnings Conference Call. My name is John, and I will be your operator for today. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes, and this call will be posted on Via Renewable Inc.'s website. to conference like to now would turn over the Mr. I with Via Rabalais Renewables, Stephen Inc. sir. ahead, go Please

Stephen Rabalais

Thank and also Keith our Good the viarenewables.com. Earnings Barajas. webcast, you. With morning, Mike can Maxwell; Investor Call. Quarter Renewables' which from our This and XXXX Relations Third us section CFO, call website located today CEO, is be being of via welcome broadcast in to at Via is management

assumptions harbor that note results safe which on Please result events, except urge today's filings. We are yesterday's as the SEC reasonable contain undertake discussion well as may review We no law. as obligation Actual required of as believe future statements, forward-looking we by these release of that may materially. a everyone date. be the to to statement based to this factors as our in risk in update earnings statements differ

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

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

William Maxwell

summary Thank quarter, results details want is area. Northeast record you, everyone of decrease third the the from the a summers welcome today's million for call. financials. prior In will the as Stephen. in which hottest X $XX.X in on we $X.X I'll CFO, experienced providing by the quarter, we the on ERCOT $XX.X quarter, to million. earnings relatively of well service third million, Mike In EBITDA mild of our year reported and begin weather as more then to Barajas, I of provide third the the

lower and third our and quarter a higher both to count were XXXX. we risk finished RCE We slightly quarter quarter the policies diversification. successfully able However, on of from due portfolio the attrition the to navigate proven

this XX,XXX We quarter. customer focus continue organic We and approximately to growth on added channels RCEs retention. maintain our

we debt, Financial balance strategic our our weather of by sheet down the working committed Furthermore, provides mitigate opportunities growth capital. ability impacts pursue remain the flexibility with improved paying has events. and which future unforeseeable us to and strengthening liquidity to

This remarks. prepared concludes my

Mike? for Now I'll his review. it to over Mike financial turn

Mike Barajas

Thank morning. resulted third achieved we Northeast, margin slightly was lower gross compared quarter to EBITDA partially $XX.X third year's last year-over-year. $XX.X you, to in compared the million was of in Retail last the In our for the third margins mostly year. due Keith. market, volumes, million from Retail Electricity $XX.X which Good quarter, $XX gross with year. In to compared million quarter weather unit million quarter $XX.X million. last offset margin mild in $XX.X decrease was higher million by the was The but adjusted

compared the $X.X margin volumes unit our million XXXX. segment, Natural was third In due higher Gas margins gross last $X.X higher Retail The in year. were count in a quarter RCE due both This and volumes year-over-year. to higher was million to to

marketing and year, to ended $XX.X quarter sales in a XXXX. were third XXX,XXX RCEs the offset quarter by and and in expenses to to the G&A the compared expenses at XXX,XXX compared million fees. We due million expenses. of partially quarter third $XX.X debt last primarily was legal broker RCEs This to bad increased reduction end

our XXXX, to X.X% book. compared which attrition from was market attrition the of X% mass in on Our lower third resulted quarter

is a quarter or of mainly place the $X.X that mark-to-market of fully contracts. loss of a million million to we mark-to-market margins income quarter XXXX. was We negative net loss compared share $XX.X fully due had per or on diluted quarter for our on diluted the share to Our in of mark-to-market a per the this $X.XX compared net a for to income our to third year $XX.X $X.XX retail This lock ago. increase hedges of put gain an in $X.X million in million

We preferred XXXX. amount our we be on in paid On increases G&A million stock the in Income $X.X preferred also all dividend January XX. of the on October expense. income had quarterly a That's on asset quarter $X.XXXXX benefit dividend I $X.X A On by of in to have. quarter XX, of October third partially per XX, reduction the Keith. was to a and expenses. XXXX optimization, net tax cash tax, expense was in third we paid declared million a Series share compared stock. The depreciation our increase in the of $XX,XXX Back offset you, to

William Maxwell

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

Operator

conference. This concludes today's

may your disconnect at Thank for lines You this time. your you participation.

Via Renewables (VIASP) 2 Nov 232023 Q3 Earnings call transcript