Via Renewables, Inc. SEC 10-Q Report
Via Renewables, Inc., a leading provider of natural gas and electricity, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial and operational performance, highlighting key metrics and business activities that have shaped the company's recent performance.
Financial Highlights
Total Revenues: $90.03 million, reflecting a slight increase from the previous year, driven by higher retail revenues.
Operating Income: $6.05 million, a decrease compared to the previous year, primarily due to increased retail cost of revenues.
Net Income: $3.15 million, significantly lower than the previous year, impacted by higher operating expenses and interest expenses.
Net Income attributable to Via Renewables, Inc. stockholders: $2.74 million, after accounting for non-controlling interests and preferred stock dividends.
Net Income attributable to stockholders of Class A common stock: $0.34 million, reflecting the impact of preferred stock dividends.
Basic EPS: $0.09, indicating a decrease from the previous year due to lower net income.
Diluted EPS: $0.09, consistent with Basic EPS, as there were no dilutive securities impacting the calculation.
Business Highlights
Revenue Segments: The company's revenues are primarily derived from the sale of natural gas and electricity. The revenue is segmented into Retail Electricity and Retail Natural Gas, with significant contributions from both commercial and residential customer types.
Geographical Performance: The company operates in several primary markets, including New England, Mid-Atlantic, Midwest, and Southwest. The Mid-Atlantic region showed strong performance with the highest revenue contribution, followed by the Southwest region.
Customer Segments: Revenue is generated from both commercial and residential customers. The residential segment remains the largest contributor to total revenue, indicating a strong customer base in this category.
Sales Units: The company reported net notional volumes of open derivative financial instruments, with natural gas and electricity being the primary commodities. The natural gas segment had a net buy position of 5,634 MMBtu, while electricity had a net buy position of 937 MWh.
New Production Launches: The company acquired 100% of the membership interests in NGE Texas, LLC to obtain an existing Texas retail electricity license, which is essential for operating as a retail electricity provider in Texas.
Future Outlook: The company is evaluating the impact of new accounting standards on its financial statements and is actively managing the impact of commodity costs on financial covenant compliance. The company is also working to minimize economic impacts from regulatory changes in Maryland and Massachusetts that could affect its operations.
SEC Filing: Via Renewables, Inc. [ SLE1 ] - 10-Q - Jul. 31, 2025