| Via Renewables Inc
Financial News Report: Via Renewables Inc. Reports Significant Losses in Q3 2024Via Renewables Inc. (VIASP) has reported a challenging third quarter for the financial year ending September 30, 2024, with significant declines in earnings and revenue compared to the same period last year. The company revealed a loss of $0.17 per share, contrasting sharply with a profit of $1.47 per share recorded in the same quarter last year. The earnings per share also fell from $1.51 per share in the preceding quarter, signaling operational difficulties ahead. Total revenue for the quarter plummeted by 14.936%, amounting to $93.77 million, down from $110.24 million year-over-year, despite a sequential revenue improvement of 8.164% from $86.70 million in the previous quarter. This decline particularly impacted the Retail Electricity sector, where various revenue streams faced substantial drops, including:- Retail Revenues: -14.12%- Other Revenue: -99.86%- POR Retail Revenues: -5.08%- Non-POR Retail Revenues: -24.9%- Residential Billed Revenue Retail Revenues: -11.82%- New England Retail Revenues: -25.73%- Midwest Retail Revenues: -5.71%- Southwest Retail Revenues: -21.78%Despite these losses across several sectors, there were areas of growth. Notably, Commercial Billed Revenue Retail Revenues increased by 8.51%, and Retail Electricity Commercial Billed Revenue Revenues rose by 14.34%. Yet, these growth pockets were overshadowed by the overall downward trend in most retail categories.The net earnings for the July to September period were recorded at $1.655 million, a steep decline from $14.659 million in the corresponding period of the previous year. The company's operating margin saw a reduction to 5.33%, a significant drop from 18.36% in Q3 2023, as operating earnings collapsed by 75.29% to $5 million.
|
| |
| Electric and Gas Revenue |
|
 0.21 % |
of total Revenue |
| Cost of Services Energy Services |
|
1.27 % |
of total Revenue |
| Retail revenues |
|
101.58 % |
of total Revenue |
| Other revenue |
|
0 % |
of total Revenue |
| POR Retail revenues |
|
59.68 % |
of total Revenue |
| Non-POR Retail revenues |
|
41.9 % |
of total Revenue |
| Unbilled revenue Retail revenues |
|
-4.26 % |
of total Revenue |
| Commercial Billed Revenue Retail revenues |
|
32.23 % |
of total Revenue |
| Residential Billed Revenue Retail revenues |
|
73.61 % |
of total Revenue |
| New England Retail revenues |
|
18.61 % |
of total Revenue |
| Mid-Atlantic Retail revenues |
|
41.53 % |
of total Revenue |
| Midwest Retail revenues |
|
14.3 % |
of total Revenue |
| Southwest Retail revenues |
|
27.14 % |
of total Revenue |
| Retail Electricity Retail revenues |
|
56.74 % |
of total Revenue |
| Retail Electricity POR Retail revenues |
|
39.32 % |
of total Revenue |
| Retail Electricity Non-POR Retail revenues |
|
17.42 % |
of total Revenue |
| Retail Electricity Unbilled revenue Retail revenues |
|
-4.43 % |
of total Revenue |
| Retail Electricity Commercial Billed Revenue Retail revenues |
|
7.59 % |
of total Revenue |
| Retail Electricity Residential Billed Revenue Retail revenues |
|
53.58 % |
of total Revenue |
| Retail Electricity New England Retail revenues |
|
14.95 % |
of total Revenue |
| Retail Electricity Mid-Atlantic Retail revenues |
|
27.32 % |
of total Revenue |
| Retail Electricity Midwest Retail revenues |
|
5.71 % |
of total Revenue |
| Retail Electricity Southwest Retail revenues |
|
8.77 % |
of total Revenue |
| Retail Natural Gas Retail revenues |
|
44.84 % |
of total Revenue |
| Retail Natural Gas POR Retail revenues |
|
20.36 % |
of total Revenue |
| Retail Natural Gas Non-POR Retail revenues |
|
24.47 % |
of total Revenue |
| Retail Natural Gas Unbilled revenue Retail revenues |
|
0.16 % |
of total Revenue |
| Retail Natural Gas Commercial Billed Revenue Retail revenues |
|
24.64 % |
of total Revenue |
| Retail Natural Gas Residential Billed Revenue Retail revenues |
|
20.04 % |
of total Revenue |
| Retail Natural Gas New England Retail revenues |
|
3.65 % |
of total Revenue |
| Retail Natural Gas Mid-Atlantic Retail revenues |
|
14.22 % |
of total Revenue |
| Retail Natural Gas Midwest Retail revenues |
|
8.59 % |
of total Revenue |
| Retail Natural Gas Southwest Retail revenues |
|
18.38 % |
of total Revenue |
| Retail Electricity |
|
56.74 % |
of total Revenue |
| Retail Natural Gas |
|
44.84 % |
of total Revenue |
| Corporate and Other |
|
-1.58 % |
of total Revenue |
2.7% 