The following is a summary of the Via Renewables, Inc. (VIA) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Via Renewables posted a full-year 2023 adjusted EBITDA of $56.9 million, rising from $51.8 million in 2022 due to increased retail gross margin.

• The company reduced attrition to 3.4% in 2023 from 3.8% in 2022.

• Power and natural gas volumes decreased because of a reduced RCE count and milder weather in the Northeast, offsetting the enhanced unit margin.

• Via Renewables' Q4 adjusted EBITDA stood at $13.3 million, marking an improvement from $12.6 million the previous year.

• Full-year 2023 retail gross margin increased to $136.7 million, compared to the previous year's $114.8 million.

• Net income for 2023 reached $26.1 million, an improvement from $11.2 million in 2022, and the company ended the year with a net debt of $54.4 million and total liquidity of $116 million.

Business Progress:

• Via Renewables shifted its focus towards organic growth in 2023, after relying heavily on mergers and acquisitions previously.

• The company suspended dividends on common stocks to strengthen the balance sheet, increase financial flexibility, and seize strategic growth opportunities.

• The customer base grew to 335,000 RCEs in 2023 compared to 331,000 in 2022, thanks to increased sales and lower attrition.

• Customer acquisition costs marginally increased in 2023 to $6.7 million from $5.9 million in 2022.

• Via Renewables continued its commitment to its preferred shareholders by declaring a $0.7596 per share quarterly dividend, payable on April 15.

More details: Via Renewables IR

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